# Asian millers turn to Argentina for wheat as drought hits Australian output - CTRM Center

> Asian millers are buying large volumes of Argentine wheat for February to April arrival, with Indonesia booking close to 1 million tonnes. Argentine 12% protein wheat trades around $255-$265 per tonne C&F, versus about $300 for Australian grain, as a second year of drought cuts Australian output to an 11-year low.

- Date: 2019-02-20 · published 2019-02-20T12:00:00.000Z
- Category: weather · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/60643-asian-millers-turn-to-argentina-for-wheat-as-drought-hits-australian-output
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Australia's drought removes a major Asian supplier during its peak export season, shifting demand to Argentina and supporting world wheat values. The price gap favours Argentine origin for Asian buyers.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-09-20 | [Winter drought rolls into third La Niña for Argentina - Grain Central](https://feedsoft.ai/events/14008-winter-drought-rolls-into-third-la-nina-for-argentina-grain-central.md) | +0.4% | -9.0% |
| WHEAT | 2018-10-10 | [Eastern drought pushes Australian winter crop forecast lower - Grain Central](https://feedsoft.ai/events/62503-eastern-drought-pushes-australian-winter-crop-forecast-lower-grain-central.md) | +8.2% | +4.5% |
| WHEAT | 2022-09-15 | [Argentina wheat farmers abandon some lots due to drought, exchange says \| Reuters](https://feedsoft.ai/events/39652-argentina-wheat-farmers-abandon-some-lots-due-to-drought-exchange-says-reuters.md) | +5.5% | -9.2% |
| WHEAT | 2018-08-02 | [Drought sends Australian wheat on a world-beating rally](https://feedsoft.ai/events/9689-drought-sends-australian-wheat-on-a-world-beating-rally.md) | +3.5% | +1.5% |
| WHEAT | 2018-08-22 | [Record grain harvest potential for Western Australian farmers as prices spike on east coast drought - ABC News](https://feedsoft.ai/events/63501-record-grain-harvest-potential-for-western-australian-farmers-as-prices-spike.md) | +1.0% | -0.6% |

## Sources

- ctrmcenter.com: https://www.ctrmcenter.com/news/ags-softs/asian-millers-turn-to-argentina-for-wheat-as-drought-hits-australian-output/

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