Grain Report Monday - 30th January
Our goal is to help growers and their agents determine the selling price for their grain by providing relevant price discovery each day. Check out the moves in overnight international markets and yesterday's actual traded prices across Australia. There's also market commentary giving context and comparisons to prices of international physical markets. If you need to change your offer price, simply edit it before market open.
What price do you want for your grain?
Look Out!
Wheat and corn markets mixed on Friday night and soybeans off a bit.
Slow news day as Australia seemed to have all taken the 4-day long weekend, irrespective of the wokeness of the date.
The USDA’s attaché’ to Australia has just gazumped ABARES and the USDA, calling the Australian wheat crop at 37 million tonnes.
ABARES and USDA both have the Aussie wheat crop at 36.6 million tonnes, so the USDA attaché’ increased the forecast by a staggering 400,000 tonnes.
As I said, slow news day last Friday.
I am going to go out on a limb here and call the Aussie wheat crop 37.1 million tonnes, higher than the USDA attaché. But I sit behind a desk and have no idea.
In other news, it was reported South Korea bought some more Aussie feed wheat at USD $348.85 Cost and Freight, South Korea.
This is USD $4 higher than their last purchase 2 weeks ago?
Hang on, did I just say South Korea paid more for feed wheat last week than they did 2 weeks ago?
I thought the markets were falling, the sky is falling on our heads, and we need to throw the baby out with the bathwater before the Northern Hemisphere harvest hits and destroys our market prices?
The South Korean purchase works back to AUD $430 FIS (Free in Store) WA and AUD $410 Track East Coast.
WA FIS FED1 prices and ASW are around AUD $330 – AUD $340 Kwinana. So, with a $100 export parity difference, this business should come from WA.
East Coast SFW bids are around AUD $376 NSW and AUD $360 Victoria, up country. If you have a truck and want to drive to Geelong, Track bids are closer to AUD $400 Geelong, which is AUD $25 better than the equivalent Geelong Zone site track bids.
If you want the Geelong Track $400, just list your stock on CGX at a $400 Geelong Track equivalent. If you want $410, list it at $410, it's your call.
Or you could hide it from the market, so no one knows there is all this wheat out there, and you will hold the market to ransom; but the USDA attaché’, ABARE, the USDA and the market know it’s there, so they will all wait.
Most importantly 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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