Grain Report Thursday - 14th November
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 weaker on $US strength with wheat the hardest hit falling to a 10-week low as US winter wheat conditions improve with good/excellent moving from 41% to 44%. European grain markets were steady to slightly lower.
Canadian canola futures eased but European rapeseed prices held as heavy losses in Chinese veg oil markets dragged down palm oil and other oilseed markets dependent on China.
Private forecasters estimate the area sown to winter wheat in Russia will shrink to 15.4m ha in 25/26, the lowest since the 18/19, due to dry planting conditions.
Argentina has dropped its estimate of 24/25 wheat production to 18.8mt from 19.5mt.
Russian’s food inflation trebled in the past month and India’s food inflation has jumped to 14-month high.
Ukrainian and Russian wheat offers have come back slightly on increased competition and lower US values.
Jordan rejected feed barley offers in a 120,000t tender and has issued another tender no doubt expecting lower prices.
Indonesia has reaffirmed its commitment to mandate 40% biodiesel (B40) in 2025 with plans to move to B50 in 2026.
$A down to 64.8USc under the same influences.
BOM forecast remains wet for most of WA and the east coast with heaviest rain now across lower parts of CQ and the western Downs in QLD.
ASX back to $325/t, down $3/t.
Reports of low malt barley deliveries in central WA has the malt spread to +$30/t.
24/25 Best Bids 13/11
Wheat APW1 $368/t Kwinana (-4), $341/t Geelong (-3).
Feed barley $326/t Kwinana (+1), $310/t Geelong (n/c).
Canola EU $865/t (-26) & non-EU $755/t (-32) Kwinana, EU $815/t (-2) & non-EU $755/t Geelong (-5).
Clear Grain Exchange (CGX) Open Market Call
Weaker
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