The damp summer is being compounded by yields down about 10%, and low grain and seed prices.
The season had looked promising until crop losses from December hail, followed by persistent rain.
Federated Farmers Arable chairman David Birkett said farmers were frustrated with waiting for crops to reach moisture levels so they could get them into dryers.
He said grain yields were back likely by 10%, with grass seed crops handling the wet better.
"We started getting this rain through January and pretty much since then it has been a rinse and repeat of last year’s summer, un-needed rain, not a lot of drying and the opportunities to get crops off paddocks has just been pretty minimal this year ... Everyone’s dryers are busy when they can be, but we are just not getting those runs of dry days."
Growers were hopeful lower grain yields reducing supplies might push low prices up.
But they know buyers will import grain if prices go beyond their comfort zone.
"The arable industry certainly has got some challenges, and we are seeing prices for next year come out from companies and they are not sustainable. There is a lot of disappointment in the pricing. We are seeing the retail of some of this seed price go up, but the price to the grower decrease, and that’s just not acceptable."
Companies were making a good margin on ryegrass seed from sheep and beef farmers capitalising on a good growing season.
Prices vary between varieties, but retail prices up to $14 a kilogram compare with growers receiving $3/kg and being paid typically 18 months after the crop is planted.
Grain returns are expected to be much the same as last season — in the upper end of $400-$500 a tonne for feed wheat and about $550 for milling wheat.
About two years ago, a few growers made a fleeting $600 for milling and feed wheat. Growers feel that should be the price now, and feed grains at the $550 mark.
Mr Birkett said the other farmers had seen price corrections and this needed to happen in the arable industry, particularly in grain prices.
More growers are expected to take on dairy grazing because of new dairy conversions coming on.
They are weighing up finishing store lambs as prices have increased to $160-$180, and would need prime lamb prices to hold.
He said farmers used to be able to buy about four to five lambs per tonne of grain, but could now only buy three lambs for the same margin.
On a brighter note, straw prices are up nearly 50% as less ryegrass was grown, while the quality is back for straw from wheat and barley crops breaking down over the wet weather. This will be needed as roughage for stock on winter feed crops.
In the meantime growers were having to scramble, often harvesting on a single day and then stopping for three or four days to wait until crops were dry enough to raise them, he said.
Autumn-sown crops such as barley harvested in early January have fared better, with good tonnages and quality — averaging about nine tonnes overall to the hectare.
After the first big rain on January 20 spring-sown crops have struggled, and a lot of clover started sprouting with cases of both wheat and barley also sprouting.
About 60mm of rain was measured at the Birketts’ Leeston farm, Greenmeadows, with last week’s storm bringing 40mm overnight. Nearby Southbridge landed 80mm, with coastal farms receiving more rain than inland.
Mr Birkett said growers were hoping crops in sodden paddocks would dry out quickly before there was more sprouting.
He said farmers had few options but to grab every opportunity they could when crops were dry enough and use drying systems where possible.
"The crops have ripened and are ready to go, but we just need to get them dry enough to get them in."
He managed to harvest ryegrass seed crops just before the heavy rain, with feed wheat and mature peas and clover crops still to come in.
Other farmers were waiting to bring in their ryegrass seed as well as other seed and grain crops.
