July 29, 2010

Global grain prices expected to rise further

Grain traders are predicting international grain prices will continue to climb in the coming months.

Prices have soared in the past month due to crops losses caused by a drought in Russia and floods in Canada.

The Victorian Farmers Federation's deputy grains president, Andrew Wiedemann, said it provides an opportunity for Wimmera-Mallee grain growers.

"I think that most growers would be looking optimistically at the moment, we've got good subsoil moisture at the moment and we've been getting some reasonable falls out of some of the rain fronts that are coming through, so we're quite optimistic at the moment we'll be looking at a good production year," he said.