00:00So a bit more good news overnight.
00:02Whilst everyone's talking about the budget,
00:04there was another report that came out that might actually be more important
00:07in the immediate term for Australian grain farmers.
00:10And that was the WOSTA report from the USDA.
00:13So it's the first report of the year
00:14that looks at all of the countries around the world
00:17and their supply and demand estimates.
00:19And the good news from it is that the US is going through that significant drought
00:24and we're looking at stockpiles around the world dropping.
00:26Interesting enough, if you look at the data at a top level,
00:29it doesn't look too bad.
00:31It looks like we've still got pretty good stocks.
00:32But it's what we've been saying for a long time.
00:35It's when you drill into the numbers
00:36and actually look at what is happening with the exporters.
00:41So exporter stocks are declining.
00:43The US is, you know, the lowest crop in about 50 odd years.
00:47And that is all good news for Australian grain farmers.
00:49And what we saw overnight was the futures market rallying significantly,
00:54limit up in Kansas wheat, but in seabot wheat up $21.
00:58So good news all around.
01:00Read the report on episode three for the full details
01:03and also on the ECM newspapers.
Comments