Tony’s Tractors

A growing population and greater demand from biofuels and livestock are expected to keep world grains and oilseeds prices relatively high over the medium term, delegates at the ABARE Outlook conference in Canberra heard today. ABARE Chief Economist Dr Terry Sheales told delegates that world wheat and coarse grains prices are forecast to decline in 2010-11 as a result of relatively high wheat stocks and higher coarse grains production. He also discussed Canada's experience in adopting genetically modified crops which began over a decade ago.