When speaking about importing and exporting grains, you will see differences in the prices, according to the type. If you are importing grains from Australia, you have to be updated with the pricing. The updates on grain prices australia is giving grain sellers and distributors a graph as a valuable tool in the process of grain marketing.
How does the grain prices graph work?
The grain prices graph has a record of the daily prices of every grain type from different grain millers around Australia. The valuable tool helps grain sellers and buyers get updated with the latest pricing of these grains in the market. So, if you are a grain seller, you may check out the prices of every type of grain using the graph.
The grain prices graph shows the latest updates and the price change. If you want to check the prices previously, there’s data marked on the graph showing how these grains have ups and downs in pricing. The analytical data help grain growers make great marketing decisions.
The tool helps a successful generation of solid grain marketing plans for every crop you are offering.
Grain prices in Australia
The grain prices in Australia consider three vital components:
- foreign exchange rates
- basis points
These three have effective effects on grain market prices.
Reading grain prices
If you are not knowledgeable about reading a grain price graph, as a grain seller, you need to know this. Yes, reading the grain prices can be complicated. The multiple factors to consider, such as the cash prices, exchange rates, futures, and discounts, make the reading more complicated than this.
Reading grain prices needs knowledge of what you are searching for and an understanding of how grain prices are determined. This is the formula of a standard grain price:
Cash price equals the future plus the basis added or deducted by the premium and discounts. Most importantly, you need to have awareness of the exchange rate since most grain price indicators are in cents. Thus, the conversion of the dollars according to the state is required. Take note that US dollars have a different value than AUD dollars.
Why use the grain price graph?
Many grain sellers may not be aware of this valuable tool, but it is not too late. There are several ways to know and understand how this daily grain price graph is used to provide daily grin price growth live. It provides updated and accurate data that can be used by grain growers in making better grain marketing options.
Therefore, you need to learn and understand all these things before you go through with selling grains. If you are an experienced grain seller, the estimation of the pricing is not enough. You need to be aware of the pricing that the other grain sellers offer. Or else, you might not gain a profit or you can’t roll out the capital from your grain business.