| Iron ore led the way down in a shocking month for Australia's key commodities, crashing to a fresh five-year low overnight on Monday. Australia's most lucrative export dived 1.2 per cent to $US77.70 a tonne, taking the month's losses to 8 per cent.
But it's not just the Pilbara feeling the pinch. Wheat crops from Dimboola to Dubbo are also feeling the pinch of lower prices. Booming wheat production across the globe has hammered the price of the grain – Australia's sixth biggest export, which was worth about $6 billion in 2013 – to a four-year low. ..............................................Full Article: Source
|