Grain Report Friday - 24th March
Our goal is to help growers and their agents determine the selling price for their grain by providing relevant price discovery each day. Check out the moves in overnight international markets and yesterday's actual traded prices across Australia. There's also market commentary giving context and comparisons to prices of international physical markets. If you need to change your offer price, simply edit it before market open.
What price do you want for your grain?
Look Out!
“Where Ya Beans” got smacked last night.
Kansas wheat was up and Chicago wheat and corn off slightly in the nearby contracts. It’s a bit dry in the US Hard Red winter plains.
Nothing really changed in the world soybean complex last night apart from funds deciding to reduce their long positions.
Soybean oil has come back to a 15-month low, which I discussed yesterday, with vegetable oils getting smacked around a bit and pushing the overall oilseed complex down.
Is there a movie festival coming up in China because they bought another 123,000 tonnes of US corn; “Pop”. So that’s just over 300,000 for the week on top of the 2.247 million tonnes last week.
In more important news, La Nina and El Nino no longer wish to be identified as “little girl” and “little boy”. From now on “they” will be known as Wet Nina and Dry Nino.
So, what are you doing with your grain?
Are you still hiding it from the market? Will the market then scratch its head and think “A-BEAR In There” was completely wrong with their crop forecast of 39 million tonnes?
If the market can’t see it, will they think it has all disappeared and just go home empty handed?
Or you could list it on CGX, name your price and who knows, some buyer might buy it.
The Clear Grain Exchange is like a farmers market.
You could have a CGX stall with some wheat, barley, and canola on the table.
Buyers will walk around pretending not to be interested, but why would they be walking around the farmers market if they were not interested.
Now imagine if you just had an empty table, or the “hide it from the market” strategy? The buyer will just walk past and go to the next stall.
The buyer is looking to restock after getting paid some Pat Cash by overseas customers for the harvest grain they pumped out over the last few months.
As they walk around the CGX Farmers Markets, will they be looking to buy mum a mother’s day gift?
Most importantly 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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