Grain Report Monday - 16th 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.
Grains were mostly lower Friday as markets looked towards slow exports amid benign global crop conditions and a smooth sth hemisphere harvest.
The only good news was a lift in European rapeseed futures to a near 2-year high on logistical issues following a river accident in Germany.
The Saudi wheat tender will be telling with thoughts that Russian exporters may need to lift bids to ensure profitability providing opportunities to other origins.
EU cash wheat prices (French, Bulgarian, Romanian) are trying to rally on the expectation that they may win a bigger slice of the Saudi tender.
Canadian canola futures fell on a pick-up in farmer selling as the new tax year approaches and as a hedge against possible trade restrictions into China and the US.
The spread between European/Canadian rapeseed values has moved to a year high of around A$230/t.
$A looks entrenched in the mid 63USc.
BOM should allow the remainder of harvest to progress rapidly in the next week or so.
ASX wheat $326/t, down $2/t.
WA milling wheat values rose $7-10/t Friday as exporters tempt some selling. Some Vic wheat values were higher for select grades, with APW posting the biggest rise, up $6/t to $366/t. Feed barley and pulse values were steady. Canola eligible for export to the EU was firm but GM canola a little weaker.
24/25 Best Bids 13/12
Wheat APW1 $387/t Kwinana (+10), $366/t Geelong (+6).
Feed barley $326/t Kwinana (+1), $315/t Geelong (n/c).
Canola EU $870/t (n/c) & non-EU $736/t (-4) Kwinana, EU $801/t (-3) & non-EU $677/t Geelong (-6).
Open Market Call
Firm to weaker.
For further market commentary please contact the CGX team on 1800 000 410
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