Global wheat prices peaked at record levels last week, with the Russian invasion of Ukraine impacting grain exports from the Black Sea for the foreseeable future. But what does this mean for Australian farmers?
Australian growers weigh up whether to lock in contracts for this year's crop at inflated pricesAn agri-commodity strategist says the Chicago May wheat futures price peaked at almost $US13 per bushelAlthough the Australian wheat price has not risen to the same extent, there has been a significant upswing with the crop selling for close to $400 a tonne.
"It's a moral conflict to a point. This is another person's misery, and it's a terrible thing in human terms," Mr Dart said. He said he was able to sell some of their feed quality wheat from last year's wet harvest at escalated prices.
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