Grain Report Thursday - 14th September
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.
Look Out!
Green dials on all commodity future markets last night.
The markets decided to trade the fundamentals and tighter world wheat stocks after the USDA supply and demand report.
Kansas wheat was up an impressive AUD $8 per tonne and Chicago was up AUD $5 per tonne.
ASX Jan 24 wheat kicked up to AUD $424 yesterday and will be higher again today.
New Crop Basis is currently running at AUD $83 per tonne, which is well above our forecasts, however our view is Chicago has been oversold and will firm, rather than our values fall. drop.
With our exports forecast to exceed 31 million tonnes this marketing year and 15 million tonne smaller crop on our doorstep, it is difficult to get bearish prices.
The Northeastern markets are doing the work to draw grain from the Riverina and Northern Mallee regions.
SFW1 wheat trading around AUD $480 into the Downs and AUD $440 into the Liverpool Plains.
Given that China is now our new barley friend again, the ASW1 – Feed Barley spread in Victoria will be back to AUD $20- AUD $25 per tonne and narrows to AUD $10 per tonne the further north you go.
APW1 Track Port Kembla is around AUD $450, which is a AUD $25 premium to Vic new crop Track APW1.
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