Australian wheat prices drop below Black Sea in Asia for 1st time in 4 years
Prices of Australian wheat offered in Asia slid this week below Black Sea values for the first time in at least four years, with the country forecast to harvest a near-record crop, two trade sources said
"Price is likely to drop further as the crop looks really good," said Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney. "Growers are happy sellers at today"s numbers and yields are massive." IKON Commodities is estimating Australia"s 2020/21 wheat crop at 32 million tonnes. For the first quarter, Asian wheat buyers are going to shift to Australia," said one Singapore-based trader. "Prices are cheaper and quality is good." Australia has suffered drought for the last three years, curbing production of wheat and lifting prices
تاریخ: سه شنبه ٢٠ آبان ١٣٩٩ ساعت: ١١:٤٥
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