Grain Report Thursday - 19th 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!
Markets were once again like a husband wandering aimlessly around a Peter Alexander clothing shop.
There is some support for soybeans and conditions in Brazil remain dry for their new crop planting.
Early days though because it's September and they will need the rain by the end of October.
The market has factored in a 169 million tonne Brazilian soybean crop, which is yet to be planted.
The US Fed reserve dropped interest rates by 0.5% which is the 1st rate cut in 4 years.
In Australia, the forecast is for 4 rate cuts, but not until next year.
I can’t wait until my soy latte and smashed avocado on toast to come back to a reasonable $30.
Maybe that’s why soybeans went up?
China imported 1.150 million tonnes of barley in August, which is up 200% year on year. Year to date they have imported 10.870 million tonnes of feed barley which is 75% up on last year.
Sorghum YTD imports were 5.810 million tonnes which is up 83% on last year.
Their wheat imports fell away in August to 410,000 metric tonnes but year to date they are up 10% on the previous year
The big question is how much will they import next year.
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
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