Australian dollar hits parity with US dollar, could hit 1.05 USD in coming months Cotton hits record price on strong Chinese mill demand and downgrades to global production Sugar prices could hit 30 USc/lb on near term supply concerns NAB’s outlook for the Australian economy remains unchanged since last month, with Australian economic growth of 3.25 per cent expected in 2010 and 3.75 per cent expected in 2011. Consistent with a multi-speed economy, forward indicators are generally mixed.... ...Read more »

The National Australia Bank (NAB) Agribusiness Commodities Wrap released today forecasts the Australian dollar to peak above parity with the US dollar, limiting the impact of rising soft commodity prices. Commodity prices have begun to rise again in US dollar terms but gains for Australian farmers are being wiped out by the strength of our currency. In commodities, NAB expects total farm production to remain unchanged in 2009-10, however wheat production has been revised down by two million tonnes... ...Read more »