UPDATE: Sorry everyone - the workshops have been cancelled due to the impact of the COVID-19 virus. We are hoping to reschedule and will keep you updated once we have some news. We thank you for your understanding as we prioritise the health and wellbeing of staff, participants and the community as a whole.
FarmLink partner, Rabobank, is bringing expert analysts to Temora Ag Innovation Centre (TAIC) on March 19 to host an event where they will discuss commonalities between Australia and the US and share their views on how Australian grain farmers can set themselves up for profitability.
RaboResearch US Grains & Oilseed Analyst, Steve Nicholson, will join Cheryl Kalisch Gordon (Senior Grains & Oilseed Analyst, RaboResearch, Australia) at the March 19 event at TAIC's Trefle Shed.
According to Ms Kalisch Gordon, Rabobank baseline projections show that US grain growers will face sustained margin pressure over the coming decade, primarily as a result of sluggish commodity prices and high input costs.
In particular flat US demand growth - US grain (wheat and corn) demand is forecast to grow at less than one per cent per annum for the next decade – together with increased grain production is expected to result in higher US grain stocks and lower US prices over the next 10 years.
In Australia we expect local cereal grain demand to rise by 2.3 per cent per year and above yield increases over the next decade, with feed grain demand leading the way. However, the outlook for challenging conditions for US farmers and further strong grain production growth in the Black Sea region that will underpin increased global production means that the Australian grains industry also faces a prevailing low margin outlook.
Individual farmers can however relieve margin pressure through the adoption of new technology to manage costs, risk management tools to deliver improved pricing and strategic review of longer term operational premises – such as should land be leased or owned, should quality or yield be the key aim and will on farm storage enhance long term margins?
Contact the FarmLink office on 02 6980 1333 for event details.