Water Week

EWN Publishing

Australian grain buyer goes bust in wheat price spike: Chicago December 07 wheat futures US922c/bu

Posted by waterweek on 10 October 2007

The drought has already forced one grain buyer, Barry Smith Grains, based in Moree, NSW, into administration and there are constant rumours of others, big and small, who are not comfortable with their position, reported Queensland Country Life, (10/10/2007, p.5).

Price factors: Analyst Malcolm Bartholoders raised two other factors bringing the price down slightly domestically. He said the prices over $400/t for old-crop cereals were flushing small packages of grain from growers. especially in South Australia. keeping a lid on new season values. Internationally, Chicago Board of Trade December 07 futures came back from US952c/bushel earlier in the week to trade limit down to US922c/bu on Wednesday.

Queensland Country Life, 10/10/2007, p. 5

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