Grain Report Thursday - 2nd January
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.
International grain exchanges were closed overnight for New Years Day.
There is starting to be some chat about weather in key growing regions in the absence of any other news. The Russian crop is the one to watch.
In Argentina, hot & dry weather forecast for coming weeks could crimp soybean yields and cause problems for the upcoming corn plant. Larger Brazilian crops are in great shape and should dominate discussions and be the dominant factor in corn and bean markets in coming months.
Very cold weather forecast for the US northern plains may pose some problems for wheat crops there, while there are lingering questions about the health of the Russian wheat crop.
Local grain markets were a touch softer in New Year’s Eve trading.
$A weaker again at 61.8USc on $US strength as growth concerns mount for major economies outside the US. Markets have adjusted to the Fed’s less aggressive stance on easing with expectations that US rates will now remain above those in other major economies for longer.
Kochie’s Key Predictions for 2025.
$A to break major long-term supports and trade below 60USc
Wheat to bounce back towards US$6.50-7/bu in Mar-May (A$400-420/t)
Canola to trade at year high’s early in 2025 before falling under pressure from trade policy interventions, US biofuel policy changes (which will favour corn over beans) & record Sth American soybean crops
Volatility to make a comeback
Livestock values to outperform grain
24/25 Best Bids 31/12
Wheat APW1 $370/t Kwinana (n/c), $351/t Geelong (n/c).
Feed barley $325/t Kwinana (n/c), $311/t Geelong (n/c).
Canola EU $855/t (-5) & non-EU $730/t (n/c) Kwinana, EU $774/t (-6) & non-EU $668/t Geelong (-8).
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