As winter crop planting gathers momentum around Australia, greater attention is now being paid to wheat, barley and canola marketing options for the coming 2021-22 season.
Growers are mostly wanting to get the new crop established before genuinely engaging in the market.
But it is interesting to understand what is driving Australia’s current values, and whether the influencing factors will persist for the remainder of the season.
Recent rallies across the three commodities of wheat, barley and canola can predominantly be attributed to ongoing production concerns in US and South America for corn and soybeans, with Chicago corn futures rising to their highest levels since March 2013.
Canadian canola and wheat prospects are being impacted by…