Wheat: Australia front bumper crop

Australia's wheat providers are on the best way to reclaim their share of the Asian wheat market. The world's fourth-largest wheat exporter will probably drive a record wheat harvest and refer the competitors from the Black Sea region in their place.
Australia had lost some market share in recent years when its biggest customer in Indonesia to seller from Russia and the Ukraine, which were able to offer cheaper. This year but expected a harvest volume from 31 to 32 million tons and thus to set the previous record dating back to 29.9 million tonnes in 2011/12.
The Australian retailer want to use that to serve the demand of countries next door in South-East Asia. Australian standard wheat with 9% protein in this week, USD/tonne fob cost $185. The similar quality from the Ukraine offered fob in Southeast Asia with $178 to $180 per tonne, with Australia typically has a freight cost of $10 per tonne. There have been allegedly had wheat supplies from the Ukraine to Indonesia. For that now but hardly a demand is present, since the buyer with Australian and Argentinian wheat can be operated.
The wheat crop in Australia is now well underway and the results are better than expected. A few weeks ago you heard of fears that the crop quantity and quality as a result of rains could suffer. The protein values are higher than anyone expected with up to 10.5 to 11%. A weak exchange rate of the Australian dollar against the US dollar also promotes the chance of good exports.
The Philippines had bought for the period July to September of 440,000 tons of Ukrainian wheat and are gone now but again Australian standard wheat. The world is currently awash with wheat and will reach the USDA according to end of June 2017 with a closing stock of 250 million tonnes of wheat an all-time high.

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