Grain Report Monday - 20th January
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 finished firm on Friday night led by corn and beans on optimism about US/China trade relations and concerns over South America weather. US markets are closed tonight for Inauguration Day.
Wheat continues to be unloved with most of the major buyers on the side-lines.
US weekly wheat net sales bounced to over 500,000t up from a marketing year low of just 111,000t the week before. Consistently higher US wheat exports would be a signal that low prices have stimulated demand, and that cheap European and Argentine supplies are tightening.
Egypt’s new buying authority continues to confuse traders with its statements about its dealings. But an Egyptian cabinet announcement signalled it has 4-months of wheat strategic reserves.
Thailand purchased 195,000t of feed wheat and Jordan issued another tender to buy 120,000t of milling wheat.
Forecast rain across southern Brazil and Argentina looks to have disappointed, however, there is more rain in the forecast in the next week.
Private buyers in China are said to have covered first quarter needs with Brazilian soybeans as a hedge against Trump tariffs.
Canadian canola futures continue to bounce around supported by brisk near term demand but weighed down by trade risks and uncertainty about biofuels policy.
$A stuck at 62USc with uncertainty around local rates and direction of $US.
BOM not much rain in the forecast, hot this week for the east coast.
Should be an interesting week with Trump’s inauguration and promises of shock and awe from some quarters of the MAGA Republican base.
24/25 Best Bids 17/1
Wheat APW1 $373/t Kwinana (-6), $344/t Geelong (-6).
Feed barley $337/t Kwinana (-1), $312/t Geelong (n/c).
Canola EU $840/t (-20) & non-EU $705t (-22) Kwinana, EU $790/t (-23) & non-EU $665/t Geelong (-30).
Open Market Call
Should be flat.
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