Victoria's grain growers expect a good yield

If you're a grain grower in Victoria, and you're feeling positive about this season's yield, you're not alone.

According to the latest Rabobank Rural Confidence Survey, the state's grain growers are "looking at good yield potential" in the coming weeks and months.

This is due to a mild winter and plenty of rain.

Todd Charteris, state manager of Rabobank in Victoria, said in a September 9 statement that crops are "looking very good in the Wimmera," and "much better than last year in the Mallee".

Ms Charteris explained that despite the fact many grain growers planted their crops later than usual this year, favourable weather conditions have really "boosted yield potential".

Rabobank is predicting that Victoria's wheat production will increase by a whopping 20 per cent this season.

He revealed that, all going well, this year's yield will "more than offset the softening in the wheat price".

However, Mr Charteris knows that grain growers are a savvy lot, and are unlikely to "relax until their crop is off the ground".

Approximately 1,000 farmers took part in the Rabobank Rural Confidence Survey. In Victoria, 48 per cent of those who participated believe the agricultural economy will improve over the next 12 months.

A variety of reasons for this were cited, including the decline in the Australian dollar (69 per cent) and improved seasonal conditions (22 per cent).

Mr Charteris said that Victoria's grain growers "are feeling cautiously optimistic in this lead-up period to harvest".

There is an even split between farmers in this industry who believe conditions will decline, stay the same or improve.

If you're a grain grower, retaining a certain level of caution is key if you want your business to succeed.

In order to protect your grain, you may want to consider organising a crop insurance policy.