Weekly Commodity Report

Report prepared 31 July 2026.

Wheat

$358/t (H2)

Steady

Global wheat markets rose last week on escalating conflict in the Black Sea region that typically accounts for a third of the world's wheat trade.
Source: Bendigo Bank

Barley

$319/t (feed)

Up 3.6%

.East coast barley found support from dry northern conditions and stronger wheat markets. Upside remains as Australia stays competitive into China.
Source: Bendigo Bank

Sorghum

$344/t

Down -1.1%

.Since the bulk market is completed the market is now centred on delivered container terminal pricing, recently falling to $340 Narrabri or $355 Downs
Source: Rain Agribusiness

Cotton

$628.3/bale (Cotlook 'A' Index)

Steady

May exports topped 200,000 bales and above May 2025. China accounted for 47%, Vietnam 19%, Indonesia and Malaysia both 10%, Bangladesh 6% and India 7%
Source: Australian Cotton Shippers Assn

Oilseeds

(Canola)

$788/t

Up 1.9%

ICE canola reached 3-year highs, with the Nov contract clearing resistance near C$800, prices supported by rallying crude prices and wheat strength.
Source: Lachstock Consulting

Pulses

(Chickpeas)

$667/t

Steady

Apart from the Indian market, traders expect demand of up to 1 million tonnes including to Pakistan for shipping in September-November period.
Source: Rain Agribusiness

Sugar

$450/t

Down -3.3%

Brazil’s crop mix remains skewed towards ethanol despite the larger crop, sugar production down 12.6% to 10.8 million tonnes from the same period last year.
Source: QSL

Cattle

1004c/kg (EYCI)

Up 0.1%

National cattle yarding down 9% to 67,283 hd with most indicators down. Restocker Yrlg Steer Indicator down 0.5%, Heavy Steers 4% lower to 441¢/kg lwt
Source: MLA

Cows

388c/kg (lwt)

Down 0.7%

Processor cows averaged 404¢/kg lwt at Wagga Wagga which accounted for 24% of NSW yardings for the week, while Carcoar averaged 403¢ and Dubbo 396¢.
Source: MLA

Lamb

1198c/kg (NTLI cwt)

Down -1.7%

Indicators fell on reduced demand as more processors shut for winter maintenance. Merino Lamb Indicator down 1.5%, Restocker Lambs down 4%.
Source: MLA

Wool

1,873c/kg (EMI)

Down -1.5%

Merino indicators fell between 20¢ and 65¢ and crossbred 26-28 micron types fell 42¢ to 50¢. Clearance rate was 84.7%. Market now on a 3-week recess.
Source: AWI

Weather

The Bureau's August to October rainfall outlook indicates a 60 to 80% chance of below-average rainfall across most eastern states.
Source: Bureau of Meteorology