Grain Report Thursday - 10th October
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.
Grain markets were firmer under largely the same influences.
Dry weather continues to hamper Russian planting, and this week has seen a flurry of wheat import activity. With Algeria and Jordan in the market.
Russian Ag Minister insists its ‘24 grain harvest will total around 120 million tonnes (Mt) (down again from 124Mt) including 85 Mt of wheat and 17 Mt of barley. She insists that 13M ha of 20M ha (around the same as last year) has been planted but noted dry conditions in central Russia. This update seems optimistic.
Corn and soybeans higher amid ongoing uncertainty around South American planting conditions with weather models giving conflicting views about the potential for rain.
Canola was firm to higher on strength across the vegetable oil market as Indonesia increased its biodiesel mandate from 35% to 40%.
$A continues to flail towards 67USc on the announcement of disappointing Chinese stimulus measures, which have negatively impacted equity and commodity markets.
BOM forecast turning wetter with 10-100mm (heavier amounts in isolated patches) set to drench the entire east coast (most areas will receive 25-50mm) including SA & western VIC but at the lower end of the range.
ASX was relatively busy yesterday with wheat closing at $335/t (+2) and some feed barley done at $285/t.
24/25 Best Bids
Kwinana APW1 $372/t (+1), BFED1 $320/t (n/c), CAN1 $797/t (-13), CAG $721/t (n/c)
Geelong APW1 $355/t (+2), BAR1 $324/t (+6), CAN EU $745/t (-10), CANG $695/t (-10)
Clear Grain Exchange (CGX) Open Market Call
Steady to higher, basis improving in southern markets
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
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