i can tell you that the shipping stem is full right along the eastern and southern ports.
this is extremely unusual for August and September, - i have not seen this level of export activity since i have been in the export - handling - shipping business - Aug/Sept that tend to be the down times. The carryover must be enormous.
the grain needs to be shifted to make space for the early crops (canola etc)
i am also looking back on the data of exports, there are new markets that are taking a great deal - previously these were niche markets.
the situation in europe is far worse that previously thought, with the droughts making planting conditions untenable.
Aus will still ship canola to europe, this may increase, but the wheat exports ex Europe to middle east is a a massive market. Shipping costs are not a great deal more, and a good shipping charterer is able to position vessels that are suitable for grain. Am seeing loads of vessels coming into AUS with fertilizer, and being on the coast, picking up grain. and these vessel are already 'fertilizer' standard, so able to carry grain without an issue.
There is still enough grain out there - even without next season crop to keep the export silos full.
Looking forward to an explosive 12 moths or so.
GNC Price at posting:
$8.42 Sentiment: Buy Disclosure: Held
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