Grain Report Friday - 31st 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.

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Look Out!

• Chicago wheat was sold off last night. Corn and Beans off slightly, and Kansas wheat held it’s own.

• The Kansas wheat futures market represents Hard Red Winter wheat, which is not in the greatest of shape currently, and forecasts for next 10 days are not positive.

• We mentioned yesterday, there were rumours Viterra were also pulling out of Russia, along with Cargill who will not elevate grain from their terminal in 2023/24.

• Reports today confirm Viterra are exiting the Russian market. Louis Dreyfus will be next.

• The interesting thing here is, as western grain companies are shown the door by Hokey Pokey, it appears Russia are looking to take back control of their grain industry to manage farmer returns and keep profits in their country.

• In reality, if Russia nationalises their grain market, they have the ability to control exports and effectively use wheat as a very powerful weapon. Hungry people react differently to annoyed people.

• See what I did there, I used the word nationalise rather than “single desk or regulated market”, so people don’t think I am living in the past.

• Did someone say “Nationalised wheat market”, shut up and take my money?

• Hokey Pokey’s puppet master bought another 178,000 tonnes of US corn. They have now made a purchase 11 out of the last 15 business days. It's like they have a new credit card.

• Tonight, the USDA will release the quarterly stocks report as well as the planting guesses.

• In 2043 a government industry body will release the first ever Australian quarterly stocks report to assist growers and all players in the Australian grains industry make informed pricing decisions

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