Last Updated: April 02, 2015

Weather: Canberra 13°C - 25°C . Possible shower developing.

Grain & Hay

Global wheat production to rise, USDA says

wheat

Rise: The USDA report forecasts world wheat production for this year would increase 5 million tonnes. Picture: Zoe Phillips Source: Weekly Times Now

WHEAT futures fell early this morning after the US Department of Agriculture predicted a rise in global grain production.

The USDA report forecast world wheat production for this year would increase 5 million tonnes or 8 per cent or to 711 million tonnes.

Most of this increase is from Canada which is expecting a record crop of 37.5 million tonnes, and last Australia’s production was also raised 1 million tonnes to 26.5 million tonnes.

The UDSA said the near record world wheat supplies and increase export competition would reduce price prospects for US wheat.

And overnight US wheat futures prices fell sharply as a result of the report.

Commonwealth Bank agricultural commodity strategist Luke Matthews said Chicago Board of Trade futures broke through key support levels last night and settled at fresh contract lows.

Have your say

Skip to:
Read comments
Add comments

Add your comment on this story

Comments Form

1200 characters left

Your details
Post Options

Kelly’s can-do attitude saved day

 Peter Kelly is the CEO of SPC Ardmona, pictured at their factory in Shepparton.

THERE to shut down the company, this managing director found a nation willing him to do the opposite, writes ROB HARRIS

NZ mussels in on aquaculture

 New Zealand green lipped mussels. mussel greenlipped NZ seafood

A NEW aquaculture park, which will allow greenshell mussels to be selectively bred, is opening near Nelson in New Zealand.

Dairy prices slump at latest auction

-

DAIRY prices in Fonterra’s GlobalDairyTrade auction have plunged for the second time in a fortnight.

Wheat rates on roller-coaster

Wheat rates on roller-coaster

THE price for wheat is expected to remain volatile as the world’s grain growing nations look to the US red wheat crop.

1970s are still the high point

FARM Colin and Sally's Organic Lamb and Beef

THE current high beef cattle prices are lower than the levels of the 1970s.

$5b windfall for rural Vic

Macarthur wind farm in western Victoria..

WIND farms worth almost $5 billion are poised to be built across Victoria.

Saints to atone for past sins

Goulburn Valley FL, Grand Final, Benalla Saints v Shepparton Swans

BENALLA Saints will be out to exorcise its demons when the Goulburn Valley Football League kicks off.

Kelly’s can-do attitude saved day

 Peter Kelly is the CEO of SPC Ardmona, pictured at their factory in Shepparton.

THERE to shut down the company, this managing director found a nation willing him to do the opposite, writes ROB HARRIS

Aussie baling history on show

Aussie baling history on show

A TWO-horse pull-power hay press will be displayed at the International Harvester Historic Baling Festival.

Going native one step at a time

Jindi Farm Bush Foods

LESLIE Smith wanders through her farm at Jindivick in Gippsland with daughter Leila.