# Grain Trade Australia says record crop, not market failure behind price lag | Farm Online | ACT

> 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.

- Date: 2023-04-06 · published 2023-04-06T12:00:00.000Z
- Category: logistics · region Australia · magnitude low
- Page: https://feedsoft.ai/events/36374-grain-trade-australia-says-record-crop-not-market-failure-behind-price-lag-farm
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

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.

## Read by commodity

- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-04-22 | [New grain production records have been met with new export capacity \| Farm Online \| ACT](https://feedsoft.ai/events/36368-new-grain-production-records-have-been-met-with-new-export-capacity-farm-online.md) | -8.3% | -10.0% |
| WHEAT | 2016-11-07 | [CP Rail says October grain shipments set record, proves it can move bumper crop \| iNFOnews.ca](https://feedsoft.ai/events/73858-cp-rail-says-october-grain-shipments-set-record-proves-it-can-move-bumper-crop.md) | +1.2% | +0.3% |
| WHEAT | 2021-03-23 | [Hot sea-freight market boosts Australian export opportunities - Grain Central](https://feedsoft.ai/events/48320-hot-sea-freight-market-boosts-australian-export-opportunities-grain-central.md) | -0.9% | -0.8% |
| WHEAT | 2024-10-04 | [Canada: Grain trade reputation on the line](https://feedsoft.ai/events/27888-canada-grain-trade-reputation-on-the-line.md) | -5.2% | -6.7% |
| WHEAT | 2024-07-01 | [Red Sea conflict sets bomb ticking under Aussie ag shipping costs \| Farm Online \| ACT](https://feedsoft.ai/events/17019-red-sea-conflict-sets-bomb-ticking-under-aussie-ag-shipping-costs-farm-online.md) | +6.6% | -1.3% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/8149425/gta-points-to-record-crops-role-in-price-drop/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.