It was only 5 years ago...

[malleefarmer]

I was super bullish agriculture future was rosy blah blah.
The shine has gone of ag i reckon and i have one young guy super interested the other 2 are not that no problem and there choice.
One wants to be a school teacher the other a vet.

Cost of iron stupid, land ever increasing bare land here last week zero improvements small farm 830 acres made $588 per acre yield potential most years 2.3 t per ha of wheat barley and say 1 t ha canola other legumes similar to canola. But truth was a sheep farmer bought it who crops 1/3 his farm livestock on rest has low machinery overheads and diversity with meat and wool. Actually 5 bidders runner up livestock guy as well as number 3 and 4th 5th bidders croppers only.

Anyway i digress unless a trainwreck happens in the world somewere possibly for 2 years running grain will be flat. People want cheap food govts want cheap food farmers dont.
Milk industry here in australia in turmoil milk at supoer market $1 per litre fresh below cost of production.

Sheep and to a lesser degree cattle bright lights. Cattle $6.80 per kg live wieght and sheep and lamb around the $4.50 to 5.50.

Current wheat port price take of $35 to get on farm price wheat $222 standard wheat feed barley $160 and malt barley $190 to 210 Canola $530 lentils $730 chickpeas 900 to 1100, peas $375.

Thus ends todays aussie market report and whine sorry guys got a few stiches in my head from a minor work accident yesterday im grumpy even grumpier when i saw doctors bill.......

[errolanderson]

mallee . . . 5 years ago, it was the peak of China's economic miracle.

It has been all downhill for China and global commodity markets since . . . .

[farmgal71]

Also 5 years ago, US Ethanol policy growth used up all of the surplus corn and created a grain deficit.

Farmers are good at cranking up grain production if the prices is very profitable.

Not sure what the solution is, we are concerned as well about medium term.

[ajl]

Current condition are normal. Plenty of production and supply pushed. Last number of years were the exception. Trouble is to get input costs to return to normal as they are used to the higher levels of the past number of years which is the major problem.

[blackpowder]

If it makes you feel better. That same land here would be $4000.

[errolanderson]

China is now aggressively purchasing soybeans from the U.S. and Brazil right now. Bean imports are destined for rebuilding hog herds. Chinese have massive appetite for pork.

U.S. soybean exports have been so brisk of-late that the U.S. 3rd quarter may rise slightly because of this demand.

This is also contributing price support for canola.