International wheat prices seen to stay flat

Grain producers could be in for a prolonged period of low wheat prices as high supplies result in a global glut.

Queensland-based wheat exporter PentAg said the larger volume of wheat has meant the global price has not moved significantly in around eight weeks.

PentAg's Steve Sloss said something drastic would have to happen for the price to shift. "Unless we see a serious deterioration of someone's crop around the world and we talking about an event in the order of 10,000-15,000 tonnes, it's going to be a tough grind to push prices higher in the near term," he said.

"Consumers both domestically and international are choosing to buy everything hand to mouth, which again is not new, but that continued buying pattern has made it a bit tough for us to get any sort of a rally in our markets here in Australia," he said.