Weekly Wisdom 14 September 2016
Australia could be on course for its largest wheat crop since 2011/12, according to recent figures from the Australian government. It is said that crops are in excellent condition after a successful winter and the outlook for the spring looks promising.
Wheat production is forecast nearly 3Mt higher than in June at 28.1Mt, and forecasts for barley are +5Mt, canola +0.4Mt and oats +80Kt. Wheat and barley production are both predicted to be the second highest on record since 2011/12.
There are considerable areas of uncertainty, with the world currently on its way to its fourth consecutive global grain surplus. As a result, this is keeping overall price levels down.
While wheat harvests are coming to a close in parts of Europe, the US and the Black Sea regions, harvest is only just beginning in Canada.
We have received untreated trials data for Nelson, our exclusive winter wheat variety.
Nelsons superb disease resistance. Nelson has a significant spec weight with it being the top performer of all varieties at all trials sites. The highest recorded spec weight was at Langley in Berkshire at 79.1kg/hl.
Nelson is a tall variety with excellent standing and large flag leaf, which helps suppress weeds and blackgrass.
Nelson is an extremely early maturing variety, maturing 7 days before Skyfall.
Organic markets are strong with organic feed wheat trading at £210-£215 ex farm. Premiums are available for feed wheat’s with good hagbergs in the North at £225 ex farm.
There is strong demand for organic milling oats, malting and milling wheat. Organic feed barley is worth £202-£205 ex farm for Sept-Oct movements.
With a lack of protein coming from the Eastern block, organic beans are valuable and are now worth £315-£325 ex farm.