Grain Report Friday - 8th November
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.
Same. Wheat off a little, corn up a little, beans and canola stronger.
US weekly exports show only routine wheat business but much stronger exports of corn and soybeans as the US fills the gap left by lower exports out of Sth America.
Oct Brazilian soybean and corn exports were 4.71mt (5.6mt last yr) and 6.4mt (vs 8.4mt last yr) with much of that business flowing to the US.
Chinese import data showed Oct soybean imports at a 4yr high of 8.1mt, taking imports for the year to date to 90mt (+11.2%).
Canola stronger on increased Chinese buying ahead of possible Chinese import restrictions.
USDA is expected to leave world wheat end stocks unchanged but reduce stocks of corn and soybeans on lower production and higher usage.
$A higher at 66.6USc on a hawkish RBA statement and renewed optimism for the Chinese stimulus package.
BOM forecast is getting wetter with the inland trough broadening. These systems are difficult to predict so it's worth keeping an eye on. Most weather models have the east coast getting rain of 5-25mm with the heaviest falls of up to 50mm in sth QLD and nth NSW. Good for sorghum, no good for harvesting wheat. It’s going to be very hot in QLD and nth NSW ahead of this change.
ASX last trade $332/t, down a couple of bucks
24/25 Best Bids 7/11
Wheat APW1 $375/t Kwinana (n/c), $340/t Geelong (n/c). Nothing doing.
Feed barley $322/t Kwinana (-2), $307/t Geelong (n/c). Nothing doing.
Canola non-GM $866/t (+26) & GM $765/t (+20) Kwinana, non-GM $801/t (+15) & GM $746/t Geelong (+21). Get your offers listed.
Clear Grain Exchange (CGX) Open Market Call
Cereals a little softer, canola up (+A$10-13/t on international exchanges overnight)
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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