Feedgrain Focus: Domestic values follow offshore lead

FEEDGRAIN buyers in eastern Australia judiciously are maintaining their strong buying stance as they face world markets which refuse to go down and as southerners fear Mallee and Wimmera region dryness is dusting up Australia’s otherwise optimistic start to the winter cropping season.

Nearby values in the south for wheat and barley firmed this week by about $5/tonne, but new crop bids reflected forward risk and uncertainty as Melbourne values advanced by $15-20/t.

Indicative grain prices delivered. A$/t.

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