Australia buys Canadian wheat

[ajl]

As expected Australia will import a little wheat to tide them over to new crop. This will form a near term bottom so there will be an opportunity to sell wheat until new crop Australian supplies are available. Then the surplus pile will get bigger again.

[farmaholic]

Maybe that explains Mallee's prices he was quoting earlier? Even a domestic shortage?

I kind of find it amazing.

[Agvocate]

First wheat imports into Australia since 2007. Makes a good headline, should keep a floor in spring wheat futures. If Aussie drought continues into this year and more imports are needed spring wheat futures should keep rallying over KC and Chicago. That could just as easily mean KC and Chicago just fall though, so flat price doesn't have to get better to the grower, just widen the distance between HRW and SRW values.

[farmaholic]

First wheat imports into Australia since 2007. ................ That could just as easily mean KC and Chicago just fall though, so flat price doesn't have to get better to the grower, just widen the distance between HRW and SRW values.