# Wheat price rise likely but much drier season ahead: NAB - Grain Central

> NAB Agribusiness forecasts Australian wheat prices to rise about 12% by end-2017, largely on an expected fall in the Australian dollar to 70 US cents. It says global wheat supply is near record levels and USDA ending stocks are near 250 million tonnes, so prices are expected to stay generally weak.

- Date: 2017-02-21 · published 2017-02-21T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/72419-wheat-price-rise-likely-but-much-drier-season-ahead-nab-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker Australian dollar lifts local wheat prices and makes Australian exports more competitive, but with world stocks high the rally is limited and depends on currency moves.

## Read by commodity

- WHEAT: bullish ▲
- AUDUSD: bearish ▼

## Sources

- graincentral.com: https://www.graincentral.com/cropping/wheat-price-rise-likely-but-much-drier-season-ahead-nab/

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