Grains Research and Development

GRDC Update Papers

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This page contains papers from the GRDC Update series for both growers and advisers.

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  • Business implications of a changing climate in the Tamworth region

    Research Updates

    Grains

    Article Date
    08.09.2016
    Presented At
    GRDC Farm Business Update in Tamworth, 8 September 2016
    Region
    North

    • Summer rainfall has been steadily increasing, but since 2000 winter rain has dropped.
    • Wheat yield variability has increased with wheat seeding and spring rainfall decreasing.
    • Early and late summer rain has increased providing more soil moisture for winter crops, but also more opportunities for summer crops in rotations.
    • The rate of yield increase in sorghum yields was much higher than that for wheat yields.

  • What to do with profit repay debt expand or invest off farm

    Research Updates

    Grains

    Article Date
    08.09.2016
    Presented At
    GRDC Farm Business Update in Tamworth 8 September 2016
    Region
    North

    • Look at each investment decision with reference to your long term strategy. Does the expenditure or investment align with what you are trying to achieve?
    • Debt is a tool not a toy; those in a strong financial position will one day take advantage of those that are not.
    • Off farm investment is critical; need to start early and be consistent.
    • The key is to set reasonable and achievable financial goals, evaluate your options with the assistance of your key advisers bearing in mind your risk profile, your access to cash and your ability to sleep at night.
    • Finance is a cost of production; get some help to ensure you are getting the best deal.

  • Using profit to repay debt, expand or invest off farm

    Research Updates

    Grains

    Article Date
    07.09.2016
    Presented At
    GRDC Farm Business Update in Goondiwindi 7 September 2016
    Region
    National

    • Tax minimisation versus wealth creation (short term versus longer term strategies).
    • What form is the profit and when do you take it?
    • Assets spread and liquidity.
    • Regular and consistent discussion with everyone at the table.

  • Grain storage get the economics right

    Research Updates

    Grains

    Article Date
    07.09.2016
    GRDC Project Code
    PRB00001
    Presented At
    GRDC Farm Business Update in Goondiwindi 7 September 2016
    Region
    North

    • In the majority of cases, on-farm storage requires multiple financial benefits to cover the costs.
    • The cheapest form of storage will be the one that suits your system, the grain being stored and the length of time it’s stored.
    • Permanent on-farm storage is a 25+ year investment – it’s worth taking the time to do the numbers, consider the options and make informed decisions.

  • What is driving my profitability

    Research Updates

    Grains

    Article Date
    07.09.2016
    Presented At
    GRDC Farm Business Update in Horsham 7 September 2016
    Region
    South

    • Farming in the Victorian Wimmera Mallee has seen the average business turnover and costs more than double over the past 15 years; without any consistent increase in farm profit over this period.
    • Average farm debt has increased substantially however equity has remained relatively consistent.
    • Average size of farm croppable land has increased by over 50 per cent over 20 years and cropping intensity has increased by 15 per cent.
    • The value of the machinery working the farm croppable land has more than doubled over the 20 years.
    • Analysing costs into key classifications helps to understand what is driving farm profitability.
    • The overall profit margin of the business measures the efficiency of costs expended to generate income.
    • In the Wimmera over the past six years the Top 20% profit group has achieved a profit margin 15 per cent higher than the group average.
    • Managing machinery and labour costs are the largest discrepancy areas between the Top 20% profit group and the group average.
    • Increasing farm scale puts more pressure on the management system to deliver; as errors can lead to more costly ramifications.
    • Developing management frameworks for the key areas of the business will help mitigate challenges.
    • The management framework should always consider the issues in relation to strategic, tactical and operational outcomes.

  • Grain marketing

    Research Updates

    Grains

    Article Date
    07.09.2016
    Presented At
    GRDC Farm Business Update in Horsham 7 September 2016
    Region
    South

    • Always contextualise information in terms of time and importance to ensure it is relevant information.
    • Developing simple and consistent decision making frameworks at an individual and business level is absolutely critical to a successful grain marketing outcome.

  • Victorian farmland values 2015 report

    Research Updates

    Grains

    Article Date
    07.09.2016
    Presented At
    GRDC Farm Business Update in Horsham 7 September 2016
    Region
    South

    • The value of land underpins farming businesses and rural communities.
    • Farmland values continue to be resilient despite being subject to a range of factors, such as widespread drought, commodity prices and other external influences.
    • Farmland in Victoria has proved to be a solid investment achieving average annual growth of five per cent since 1995.

  • Business implications of a changing climate in the Goondiwindi region

    Research Updates

    Grains

    Article Date
    07.09.2016
    Presented At
    GRDC Farm Business Update in Goondiwindi 7 September 2016
    Region
    North

    • Summer rainfall has been steadily increasing, but since 2000 winter rain has dropped.
    • Wheat yield variability has increased with wheat seeding and spring rainfall decreasing.
    • Early and late summer rain has increased providing more soil moisture for winter crops, but also more opportunities for summer crops in rotations.
    • The rate of yield increase in sorghum yields was much higher than that for wheat yields.

  • Farm business scale is it a profit driver

    Research Updates

    Grains

    Article Date
    07.09.2016
    Presented At
    GRDC Farm Business Update in Goondiwindi 7 September 2016
    Region
    North

    • Long term benchmarking data consistently shows that there is little correlation between farm scale and farm profitability.
    • Profit is driven by yield, enterprise choice and gross margin, which are directly influenced by management.
    • Making good decisions about machinery can reduce costs by $100/ha.
    • Understanding these interactions means that every business can find their ‘sweet spot’.

  • Business implications of a changing climate

    Research Updates

    Grains

    Article Date
    05.09.2016
    Presented At
    GRDC Farm Business Update in Dubbo 5 September 2016; GRDC Farm Business Update in Goondiwindi 7 September; GRDC Farm Business Update in Tamworth 8 September
    Region
    North, South

    • Summer rainfall has been steadily increasing, but since 2000 winter rain has dropped.
    • Wheat yield variability has increased with wheat seeding and spring rainfall decreasing.
    • Early and late summer rain has increased providing more soil moisture for winter crops, but also more opportunities for summer crops in rotations.
    • The rate of yield increase in sorghum yields was much higher than that for wheat yields.