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Seeding is underway across the region, and growers are excited by the recent rains. Some farmers are reporting 160mm + across the farm over 48 hours, creating ideal conditions for comfortable seeding. Many growers appear to be turning to canola this year, with prices in Australia at record highs, (exceeding $1,000 a tonne over the past six months). Canola on the world market is now worth $1,184.70 CAD per tonne, according to the Canada Price Index, which has almost doubled from about $680 a year ago. It should be noted, however, that the benefits of the current high canola prices are somewhat tempered by the rising input costs associated with canola being an input-heavy crop.
Australian grain overall continues to price competitively into international markets. With China reportedly experiencing one of its worst Winter crops after heavy rains delayed planting. Australian grain is currently being pulled between local markets and higher paying international markets as local supply chains work hard to move grain offshore.
It’s an exciting time for agribusinesses, albeit a higher risk, higher reward ratio. Therefore it’s timely for the Grains Research and Development Corporation (GRDC) to be asking grain growers, advisors, researchers and stakeholders for their input into the new five-year-plan that will guide investment into RD&E from 2023-28. The 'grain storming' stage will be the first opportunity for growers to contribute their insights and perspective on the drivers, threats and opportunities for the grains industry. You can find out how to participate here.
Finally, a reminder about the first home super saver (FHSS) scheme, which may be relevant to the younger generation looking to save for a first home. The FHSS allows first home buyers to save money for their first home inside their super fund. This enables buyers to save faster with the concessional tax treatment of superannuation.
To those of you knee-deep in seeding, best wishes for the coming days and weeks.
27th April 2022
ACCORDING to the Bureau of Meteorology (BoM), 129 millimetres at Ravensthorpe was the highest recorded rainfall last week, however reports from individual farmers put the tally much higher and in some cases, closer to figures from the Esperance region floods back in 2017.
Now, conditions are near perfect to fire up the seeding rig and really get the ball rolling.
WHERE should Australian grains research, development and extension (RD&E) focus to help ensure the nation's growers are profitable now and into the future?
To find out how you can be involved or to have your say on the future priorities and needs for GRDC RD&E in the grains sector go to rdeplan.grdc.com.au/consultation
Chicago Board of Trade wheat futures continued to climb through last week before some profit taking saw CBOT close lower Thursday night ahead of the Easter weekend.
Dryness in China and the United States continue to be monitored with expected downgrades being priced into markets.
Natural disasters and trade bans are creating a perfect storm for Australian vegetable oil producers as prices skyrocket globally.
War in Ukraine and a drought in Canada have left a hole in the market, which has been filled by Australia's record harvest
The first home super saver (FHSS) scheme allows you to save money for your first home inside your super fund. This will help first home buyers save faster with the concessional tax treatment of superannuation.
You can use this scheme if you are a first home buyer and both of the following apply:
-You will occupy the premises you buy, or intend to as soon as practicable, and
-You intend to occupy the property for at least six months within the first 12 months you own it, after it is practical to move in.
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