2023/24 Returns
The 2023/24 marketing season has been challenging due to extreme volatility created by the ongoing conflict in the Black Sea and unstable, yet improving, global weather patterns. The high interest rate environment continues to impact the buying patterns of certain global consumers.
This season Australian barley enjoyed the patronage of China after a trade dispute since 2020 was settled late last season.
Wheat was characterised by a strong China sales program but ongoing stiff competition from Black Sea sellers.
Volatility in canola was also high this year as the European market experienced a glut of Ukrainian sunseed but improved late in the season as those supplies ran down and an investigation into used cooking oil from China cooled that competition.
In this environment, the methodical nature of the Advantage pooling programs has supported clients to achieve a relatively strong average price over the life of the program and avoid selling all their grain in one of the price troughs seen this season.
Detailed 2023/24 returns by port zone can be found below.
