Big gains for Australian grain

IN spite of a lack of fundamental news, grain prices have rallied sharply over the past week.

Australian wheat prices are now in excess of $300 a tonne port in many regions for APW grade grain.

A depreciating dollar is having a massive impact, but international futures in key commodities such as wheat, corn and canola are now at their highest levels since the Ukrainian crisis sent markets spiralling at the end of May.