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Grain Comment, 5 April

The final loads of the 22/23 harvest have trickled into XLD Powranna, so it is now appropriate to give this harvest a bit of a wrap.

XLD sites received a little over 50,000 tons of grain and oilseeds, around the same volume as last year, but way above the long-term average.

The highlight of the harvest this year was the quality, barley crop quality was exceptional, with around 50% of the crop achieving malt grade. This is a real credit to the Tasmanian grain industry as it is a significant improvement on previous years.

Canola crop quality was very good with oil content average above 46%, however as an industry we need to keep an eye on admixture levels, as it did drag the overall result for some farmers a little lower.

Dry land wheat yields in many districts were close to record. Overall, it was another excellent harvest.

Prices for grain remain steady to firmer with good local demand and very strong export demand. There are some concerns of a slow in demand, but we are yet to see the shipping stem on the mainland slow down.

Overseas, grain merchants’ attention is quickly shifting towards the weather with extremely dry conditions on the US plains impacting wheat yields, and a large snowpack in the northern states likely to slow the planting pace of corn and soybeans. Prices are going to remain volatile.


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