![Until there is another rally in the market, Australian wheat growers seem to be content with holding on to what old crop they have left and seeing it out. Picture via Shutterstock Until there is another rally in the market, Australian wheat growers seem to be content with holding on to what old crop they have left and seeing it out. Picture via Shutterstock](/images/transform/v1/crop/frm/37uSWs3eyNM24fqefKJaatC/08516b94-f2b9-4be8-be54-aad057f26171.jpg/r0_995_2995_2649_w1200_h678_fmax.jpg)
Recent rainfall events have been welcomed, especially throughout southern NSW and northeast Victoria.
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For a short period, many growers were feeling concerned but a few prayers coupled with some rain dances has put smiles back on most faces.
As we enter the colder months and depths of winter, all hands are on deck, with growers and carriers currently busy organising fertiliser loads and spreaders to give the crops the best chances to flourish.
Weather forecasts remain largely positive, giving confidence to these investment decisions.
A lot like the Geelong Football Club and its outspoken loyal supporters of late, wheat markets have given up much of their sharp gains in May in both United States and French futures prices.
However, there are still concerns that remain around global production especially with dry conditions and late frosts in Russia.
Harvest estimates have been cut, which is a stark contrast to the back-to-back bumper crop Russia has experienced in recent years.
China may also increase grain imports due to a potential drought.
Drought is expected to drop China's corn and wheat output, which potentially leads to an increase in imports.
With high temperatures continuing in the next 10 days or more in major corn and wheat-producing areas, concerns are high.
Wheat production in the marketing year that ends in June 2025 is forecast to drop by 1.24 per cent to 134 million tonnes, while corn is expected to fall 2.26 per cent to 282 million tonnes in the year through October 2025, according to Beijing Orient Agribusiness Consultant Limited (BOABC), a China-based agriculture consultancy.
It is sobering to consider the enormous grain-producing capacity of both Russia and China and explains their significant influence over global markets.
Back home, growers continue to weigh up their options for old crop.
It seems until we see another rally in the market, growers seem to be content with holding on to what they have left and seeing this out.
In the back of their minds is the decision about whether it's best to move on and look to next season.
One thing for sure is there is still a lot that can take place between now and harvest, and as we know, things can turn very quickly for the good or bad.
Before we know it, harvest will be here and everyone will be all guns blazing once again.
For now, though, it is continuing the slow grind whilst we wait and see what Mother Nature has to offer in the coming months.
Here's hoping she can be nice again.