Grain Report Friday - 6th 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.
Wheat was firmer particularly in Europe after yesterday’s Russian crop condition report. Russia will need to replant some areas with spring crops as winter crops have not germinated due to the dry.
Oilseeds got a boost from StatCan reducing the size of Canada’s canola crop from 19.5 to 17.8mt, below expectations. They raised wheat by 2mt and dropped barley.
Corn followed wheat and beans higher. Wheat bounced off near contract low’s so it’s anything but buoyant and the news on the Russian crop was shocking. Let’s see if it encourages a step up in buying, Jordan and Thailand issued tenders to buy wheat. Egypt must not be too far away from doing something, it will probably need to revert back to the GSAC system.
Chinese Canadian canola imports have slowed with some Chinese crushers switching to soybeans due to fears that the Chinese Government is about to impose anti-dumping import duties. Canadian canola is facing some tough geopolitical challenges with a US tariff on Canada most likely seeing demand shift from Canadian canola oil to US soyoil.
$A same at 64.4USc
BOM is starting to look wet again.
ASX steady at $324/t.
WA wheat prices are up between $2-7/t. East coast AGP up $10 to $323/t and FED up $4 to $263/t. Barley, sorghum and canola flat. Chickpeas into Brissy up another $5/t.
24/25 Best Bids 5/12
Wheat APW1 $387/t Kwinana (+2), $351/t Geelong (n/c).
Feed barley $327/t Kwinana (-2), $310/t Geelong (n/c).
Canola EU $850/t (n/c) & non-EU $740/t (n/c) Kwinana, EU $781/t (+1) & non-EU $676/t Geelong (-2).
Open Market Call
Prices continue to hold on slow grower selling. Canola might be higher today.
*Please note Richard will be away Monday 9/12/24. Commentary will resume Tuesday 10/12/24.
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
Comments