Speculation is rife that India is about to release some of its stored wheat into already saturated global markets.
A report from the US Department of Agriculture suggests Indian authorities need to shift some of last year's wheat to make room for new grain from this year's harvest.
India has traditionally kept the bulk of its wheat for domestic consumption, but four years of above average harvests has filled storages to capacity.
Grains analyst Tom Basmett, from Market Check, says it's possible 2-3 million tonnes of Indian wheat will come onto the market, but it's unlikely to directly compete with Australian exports.
"The main impact will be markets in western Asia like Iran and Bangladesh," he says.
"They'll compete pretty well in those markets, which I suppose will run head to head with US wheat."