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 Grain prices set to come back 

Grain prices set to come back

4/08/2008 12:30:00 PM
Grain growers should not bank on the historic high prices for Australian grain continuing, according to ABB managing director Michael Iwaniw.

Speaking at a Rural Media luncheon in Adelaide on Friday Mr Iwaniw said with a strong Northern hemisphere crop and the availability of capital becoming scarce grain companies would be hard pressed to offer top dollar.

"Stories of people buying the whole Australian crop or even half the crop are impossible because none of the grain companies including ABB have the balance sheets to do it," he said.

Mr Iwaniw said with deregulation, the risk with grain prices that was carried by ABB or AWB in the past was now carried by growers.

"In average or above average years I think we'll see a dramatic change in grain prices," he said.

* Extract from a full report in Stock Journal, August 7 issue.

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Comments


Date: Newest first | Oldest first
I would like to see one of our grain deregulation ideoligists smooth talk their way out of this story.
Posted by Hunger, the new world order on 4/08/2008 11:52:01 AM
Well, did anyone not honestly see this coming?
Posted by farmer pete on 4/08/2008 8:39:02 PM
These guys are just trying to buy grains cheap and sell them at much higher prices later on. Happens every year around this time....
Posted by Farmer Parker on 6/08/2008 11:18:18 AM
Risk has always been carried by farmers pre and post deregulation, nothing's changed. Put it in a pool prices go up and down, farmers win and lose, sell for cash prices go up or down after the sale farmers win or lose, never been any risk for grain companies. Sorry micheal we are not that dumb.
Posted by pete the farmer on 9/08/2008 4:14:19 PM

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ABB managing director Michael Iwaniw
ABB managing director Michael Iwaniw

Q: Who is your preferred Leader of the Federal Opposition?

Brendan Nelson
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Poll Date: 3/08/2008

26/11/2008 | If we're serious about roo farming, we'll need to start with a breeding program and kangaroo EBVs for marbling and tenderness.
 
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