Grain Market Update - Wheat (April 2013)

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The following graph shows the movement in Chicago (CBOT) December 2013 Wheat Futures price and the 2013/14 APW Multigrade price delivered port. Both prices have fallen by approximately A$40/t equivalent since late January 2013.  Recent falls in wheat prices have largely been a response to falling US corn prices.

Looking forward, we are likely to enter a period of volatility driven by world crop forecasts and domestic supply and demand.

Currently the CBOT December 2013 Futures price is A$244/t equivalent and the APW Multigrade price is A$247/t delivered port, reflecting a basis of A$3/t.

Farm Management, Cropping, FinanceLiz KelleherRural Management Strategies