Grain Report Monday - 07th August
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.
Look Out!
Markets were all up slightly on Friday night, apart from Kansas which spent the night in the doghouse.
Matif and Winnipeg canola were both up solidly as well.
The Egyptians must have found some coins down the back of the couch as they have come back in for some more wheat, announcing another tender.
They were absent for a long period, which would have been due to available funds, but this will be the second tender in a week.
As a large buyer of Russian wheat, maybe the Egyptians are a little concerned about supply disruptions due to tensions in the Black Sea going up another notch with Ukraine hitting a couple of merchant vessels with speed boats full of explosives.
They have also declared 6 Russian port areas of “War Risk”, which means military engagements will occur in these areas and potentially disrupt exports.
On Friday night, I went to the pub to have a beer with my plumber mate.
He got the first shout which was $12 for two schooners.
I got the next shout and it cost $15?
“Is happy hour over” I asked.
“Sure is” the barman said, “China has dropped the anti-dumping tariff on Aussie barley, so prices have just firmed”.
VIC feed barley traded AUD $333 Track on Friday.
More to play out here and this week will give a better indication on the impact of the Chinese announcement, but barley prices should be firmer for old and new crop.
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