Australia Reports First Wheat Export Business for the New Harvest

Australia has reported the first wheat export business in the new marketing year. According to information from unnamed sources, 50,000 tonnes of Australian Premium White (APW) wheat were sold to mills in Thailand for around $ 280 / tonne c & f for arrival in December / January.
Australia's wheat exports are delayed this year, after the country suffers from a severe drought for the second consecutive year. Due to the higher price level, wheat from Australia is often inferior to the competition from the Black Sea region and other exporting countries.
In a "normal" year, exporters have already sold around three million tonnes of wheat for shipment from December onwards.
Russia recently sold wheat to Indonesia for $ 250 / tonne c & f.
Australia reduced the wheat harvest forecast by nearly 13% to 19.1 million tonnes this month. The dryness in the east has caused the fourth largest wheat exporter, probably the smallest crop in 10 years.
Further export transactions depend on the price level. However, prices rose this week after news of frost damage in Western Australia.This week, Australia Premium White has been awarded a $ 295 / tonne c & f for delivery to destinations in Southeast Asia.
Frost across much of Western Australia has dispelled the hope that wheat-growing areas in the western Australians could provide a much-needed boost in production.

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