Torrential Rain Hits Australian Grains
Huge thunderstorms are bringing heavy rains and damaging winds to large areas of southeastern Australia. Some places have picked up 50mm+ totals in 24 hours, with Heidelberg in Melbourne's northeast seeing 18mm in just half an hour this afternoon. Of that total 12mm fell in 10 minutes, leading to flash flooding and causing temperatures to drop 10 degrees in 10 minutes.
More widespread storms are set for tomorrow, bringing with them high winds and also the chance of damaging hail.
Local reports suggest that prices for quality wheat have moved up strongly in the last couple of days, as fears mount that what had looked like being a great crop only a few weeks ago, is now mostly going to end up in the feed bin.
Local prices have been depressed following a surging Australian dollar, leading many growers to opt to delay wheat sales hoping for higher prices later on.
These latest delays to harvesting, and the potential downgrading of wheat quality coupled with a lack of farmer selling is tightening up the spot cash milling wheat market, and exporters are now struggling to fill vessels lining up at the ports.
For a look at the latest 24 hour precipitation forecast go here.
More widespread storms are set for tomorrow, bringing with them high winds and also the chance of damaging hail.
Local reports suggest that prices for quality wheat have moved up strongly in the last couple of days, as fears mount that what had looked like being a great crop only a few weeks ago, is now mostly going to end up in the feed bin.
Local prices have been depressed following a surging Australian dollar, leading many growers to opt to delay wheat sales hoping for higher prices later on.
These latest delays to harvesting, and the potential downgrading of wheat quality coupled with a lack of farmer selling is tightening up the spot cash milling wheat market, and exporters are now struggling to fill vessels lining up at the ports.
For a look at the latest 24 hour precipitation forecast go here.