CommBank Agri Podcast

commbankagripodcast•commbankagripodcast.podbean.com

Join CBA’s Agricultural and Sustainable Economist, Dennis Voznesenski, as he delves into the latest developments in global agri markets. The podcast discusses how global grains production, demand and geopolitical events impact grain markets for an Australian audience. The podcast will be released weekly. Off-schedule releases are reserved for notable global events impacting grain markets.

Last refreshed: August 26th, 2025 at 3:18 PM ⓘ

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Episodes

Market drop continues

Grain prices have continued to decline as the northern hemisphere enters the key harvest period. Seasonal conditions in Nort America and Australia continue to improve. Disclaimer: Important Information This podcast is approved and distributed by Global Economic & Markets Research (“GEMR”), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). Before listening to this podcast, you are advised to read the full GEMR disclaimers, which can be foun...

Jun 19, 2024•17 min•Ep. 24

Rain drops & price drops

Global wheat prices have experienced a sharp decline this week. The drop was driven by improved growing conditions across key export markets, Türkiye announcing a wheat import ban and winter wheat harvest beginning in the northern hemisphere. South Australia and Western Victoria remain the dry trouble spots of Australia. Meanwhile, rainfall has continued to blanket large swathes of Western Australia, with some farmers receiving last year’s rainfall total in just one week. Disclaimer: Important I...

Jun 12, 2024•12 min•Ep. 23

Red Across the Board

Recent rainfall over Western Australia has improved the trajectory of the season for many farmers. On page four we delve into the impact on major WA cropping zones. Meanwhile global grains and oilseeds markets have declined. For wheat the decline was driven by a stabilisation of Russian wheat crop estimates, improved growing conditions elsewhere and the beginning of the northern hemisphere harvest. In canola, prices declined because of improving conditions in Canada and Western Australia, in add...

Jun 04, 2024•13 min•Ep. 22

Russia is the name of the game

Russian weather challenges continue to drive markets higher, that’s despite improving conditions in other regions. Russian consultancy IKAR downgraded wheat production to 83.5mmt from 86mmt. Track/FIS APW1 prices were up 2%/wk. APW1 is trading between $368/mt track Port Kembla to $420/tonne FIS Kwinana. With the rapid rise in overseas markets, local track prices in NSW, VIC and SA have begun to trade at a discount to overseas levels. For more updates, follow Dennis on X @Voz_Dennis or search Den...

May 28, 2024•16 min•Ep. 21

Russian crop drives the market higher

Despite improving seasonal conditions in north America and stabilising crop estimates in Europe, global wheat prices continued to rocket higher, rising 4% for the week. Global wheat prices are now at the highest level since mid-2023 and up 28% in the span of only 1 month. The wheat market has been driven by a continued deterioration of Russian crop prospects, with more downgrades likely to come in the next couple of weeks. Disclaimer: Important Information This podcast is approved and distribute...

May 21, 2024•10 min•Ep. 20

Where to now for prices?

CBOT Wheat prices were up a mind boggling 7.3% on the week to 670USc/bu. Since the lows of April 19th, CBOT Wheat and EU MATIF Wheat have increased by 26%. A massive short covering by funds has intensified a rally fuelled by Russian advances in Ukraine and weather challenges around the world. The question is where to now? While we forecasted the price direction correctly on the 15th of April, the rapid CBOT Wheat price rise has exceeded our 12-month forecast range…in 1 month. We believe the magn...

May 14, 2024•10 min•Ep. 19

Too Fast & Furious

Global Wheat are up 13% since the lows of April 18 when the price rally began. Wheat prices were pushed higher by concerns of a drying Russian winter wheat crop and declining stock levels more broadly across the Black Sea and Danube countries. Australian Track APW1 wheat prices increased 1.8%/wk on average across port zones. While we forecasted a wheat price rise globally and locally, the speed and magnitude of the rise has come about faster and more furiously than expected. Disclaimer: Importan...

May 06, 2024•13 min•Ep. 18

Why have prices rallied higher?

CBOT wheat increased 9.6% over the past week and closed at 603USc/bu, while European MATIF wheat increased 11.1%/wk. Escalating middle east conflict, Russia making up ground in Ukraine, and several key producing and exporting countries experiencing drying conditions were behind the rise. Locally, national average APW1 Track/FIS prices increased 3%/wk, while feed barley increased 1%/wk. Unless there is a sudden price decline overseas, we expect local prices to follow global higher. WA and SA rema...

Apr 29, 2024•9 min•Ep. 17

Missiles, dryness and leafhoppers

Global wheat prices strengthened over the past week. The rise was prompted largely by Israel’s retaliatory strikes on Iran. Other supportive news included reductions in Argentina’s corn crop, Black Sea dryness and low government stocks in India. Global canola markets dipped on favourable US and Canadian weather, weak Chinese March soybean import figures and increased availability of palm oil eased prices lower. Disclaimer: Important Information This podcast is approved and distributed by Global ...

Apr 22, 2024•11 min•Ep. 16

Canola market outlook still golden

The outlook for canola markets still remains positive locally and globally for the end of year. Have a listen of the 3rd podcast for the week, We delve into global canola stocks, drought in Canada, an overly wet Europe and rising demand by year end and into 2025. Disclaimer: Important Information This podcast is approved and distributed by Global Economic & Markets Research (“GEMR”), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). Before...

Apr 18, 2024•13 min•Ep. 15

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