News Capsule: Australian Wheat Export Prices Hit 3-Year High
26-Aug-2026 11:21 AM
News Capsule: Australian Wheat Export Prices Hit 3-Year High
★ Australian wheat export prices have surged as disruptions to wheat supplies from Russia and Ukraine in the Black Sea region have pushed Asian buyers toward Australian wheat.
★ On August 24, ASW1 was quoted at $291 per tonne FOB Kwinana, up $25 per tonne since July 6. This was the highest level for the grade since July 2023. Over the same period, APW rose $26 to $298 per tonne, its highest level since June 2024.
★ Drone attacks and logistical disruptions at Black Sea ports have affected wheat supplies from Russia and Ukraine. Southeast Asian buyers are increasing Australian wheat purchases for September-October loading. Freight costs from the Black Sea to Southeast Asia have also risen above $80 per tonne, reducing the competitiveness of Russian wheat.
★ Meanwhile, Australian farmer selling remains limited. Growers are waiting for rainfall ahead of the September harvest, while the stronger Australian dollar is also supporting export prices. September and October shipping capacity is largely booked, with new-crop availability expected to increase from November.
★ Continued disruptions in Black Sea supplies and limited early availability of Australia’s new crop could provide further support to Australian wheat prices in Asian markets in the near term.