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Grain Trade Australia says Australian wheat cash prices sat up to $150 a tonne below some international futures because export logistics could not keep pace with record crops. The industry has added bulk export terminals, growing from 18 to 32 over the years since deregulation.
GTA rejected calls for an inquiry into the grain supply chain.
Constraints in export capacity hold Australian cash wheat below world parity, which affects the basis that buyers pay. Capacity additions over time should narrow this discount.
farmonline.com.auGregor HeardApr 6, 2023After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
