Grain Report Friday - 13th December
What price do you want for your grain?
Overnight moves in international markets and yesterday's actual traded prices across Australia are below to help you determine your price. If you need to change your offer price, simply edit it before market open.
Grains mostly lower despite an uptick in export demand.
Saudi is tendering for 595,000t of wheat delivery Feb-Apr. The result of this tender will be important as Russian traders may struggle to win any business as Government controls on wheat exports begin to bite.
The Philippines, Jordan, Thailand and Japan were all active in wheat markets.
Argentina, like Australia, is reporting a better-than-expected harvest.
US wheat exports continue to disappoint and corn, and beans sales last week were reported at levels below market expectations, partly due to a rise in the $US index over the past month.
Canola was lower in Canada, but rapeseed prices advanced in Europe. Overall, the oilseed complex was steady.
$A steady at 63.6USc under pressure from news that Beijing may depreciate the Yuan ahead of possible trade sanctions – not sure Trump would like that.
BOM clear for harvesting areas. QLD sorghum belt may pick up a little.
ASX wheat steady at $328/t.
Although port prices are holding up, delivered feed grain markets are under pressure down around $10/t in the past week. With little export competition, end users are content to sit and wait for grain to come to them and are mostly covered until the end of February. In the north, end users are expecting some selling ahead of the sorghum harvest, while in the south, growers are reluctant sellers at current values. It appears only around 25% of deliveries after the rain will be downgraded, so somewhere between 1-2mt, rather than the 2.5-5mt feared.
24/25 Best Bids 12/12
Wheat APW1 $377/t Kwinana (+2), $359/t Geelong (+1).
Feed barley $325/t Kwinana (+1), $315/t Geelong (n/c).
Canola EU $870/t (-5) & non-EU $740/t (+2) Kwinana, EU $804/t (n/c) & non-EU $683/t Geelong (n/c).
Open Market Call
Firm on east coast. Farmer selling is pressuring WA values.
For further market commentary please contact the CGX team on 1800 000 410
CGX now own and operate the igrain market for grain stored on-farm
If you have any queries, we're always here to help!
Please give us a call or email if you have any questions.
Call 1800 000 410 or Email support@cgx.com.au
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