Grain Report Tuesday - 12th 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!
Wheat was off last night as the funds position themselves for today's USDA supply and demand guess.
Corn and beans were up slightly.
These moves reflect the market feeling before the guess is released.
They are bearish wheat and bullish corn and beans.
I agree the corn and beans balance sheet may tighten due to lower yields in the US.
The trade estimates the corn yield will drop 2 bushels per acre which will drop US production by 4 million tonnes to 379 million tonnes. Not a real game changer.
The crop conditions released overnight had corn and beans both dropping 1% to 52% good to excellent.
But I think wheat is supported, with lower crops in Argie, Australia, and Canada.
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