Grain markets hit top gear

IN FOCUS: NAB’s director of commodities, Tim Glass, will be a keynote speaker at the upcoming Optimising Gain from Grain forums.
IN FOCUS: NAB’s director of commodities, Tim Glass, will be a keynote speaker at the upcoming Optimising Gain from Grain forums. Contributed

WITH drought conditions across the US, Russia and the Ukraine continuing to send grain markets soaring higher, wheat growers will have an opportunity to hear from experts to help understand the opportunities and challenges this presents at forums around the region.

NAB Agribusiness has joined forces with Partners in Grain Queensland to run a series of grain marketing forums to be held in Warra, Moonie, Yelarbon and Thallon later this month.

The bank's director of commodities, Tim Glass, and Rob Imray from Farmarco will be the keynote speakers at the Optimising Gain from Grain forums, which will also include a panel discussion with key grain buyers.

Mr Glass said escalating world grain prices also brought challenges, such as the high volatility in the current market.

"Global weather conditions are driving price direction, and prices could go either way very quickly if the weather changes or big speculators take profit on their positions," Mr Glass said.

"Growers need to bear these potential challenges in mind when making marketing decisions this year."

Mr Glass will discuss the current global volatility in the market and the impact of US and now Eastern European countries facing dry, hot conditions.

"If growers are happy with the production risk then current market prices are very attractive. Given that the market could easily go either way from here, a lot of risk is already priced in, and averaging in from these levels is prudent," he said.

Mr Imray will provide a practical look at marketing physical grain, including how to capture price opportunities and providing tips for this year's harvest and beyond.

Queensland Partners in Grain co-ordinator Theresa Pilcher said both Tim Glass and Rob Imray had strong backgrounds in helping growers improve their commodity marketing.

"The content will be pitched so that both the novice grain marketer and the veteran will comprehend the points raised," she said.

"The forum will also allow growers to hear directly from grain buyers regarding products available for the 2012 crop. We have attracted most of the larger buyers with Graincorp, Viterra, Elder Toepfer, CLEAR, AWB, Philp Brodie Grains, Westons, Dalgrains and Robertson Grains all attending this year's forum."

The forums will be held in Warra on August 21 at the Memorial Hall, Moonie, on August 22 at the Cross Roads Road House, Yelarbon on August 23 at the Oasis Hotel and Thallon on August 24 at the hall.

The forums start at 9.30am and finish at 2.30pm.

For more information about the grain marketing forums, contact Partners in Grain Queensland co-ordinator Theresa Pilcher on 0428 147 749.

Topics:  commodities grain markets

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