Grain Report Tuesday - 17th 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!
US Wheat markets off strongly last night.
I think the wheat market is somehow linked to assassination attempts on Donald Duck.
Last time on the 13th of July, when the kid on the roof pierced his ear, the wheat market fell 7 cents when it opened on the Monday.
This time, some bloke yells FORE and tries to shoot him again and the market falls 16 cents.
Just sayin’.
Nothing has changed in the world wheat balance sheet overnight. In fact, tensions are building in the Black Sea regions as Hokey Pokey threatens an escalation if the Yanks and EU allow Ukraine to use some long-distance missiles.
There was some rain in the US Hard Red Winter wheat belt, which is good for planting, but that’s about it. The US winter wheat crop is around 14% planted.
The US corn crop is 9% harvested and the soybean harvest has just started.
Winnipeg canola defied all the other markets and found some strength last night, up CAD $23 per tonne.
But over the month, it's still down CAD $50 per tonnes (AUD $55). Whereas over the same period Matif canola is up EU $13 per tonne (AUD $21).
I was looking at our new crop prices on another platform and over the month of September, our markets have changed by the following.
Canola has defied all other markets and new crop on the east and west coast have softened AUD $15 per tonnes over the month of September.
So oilseeds softer, whilst cereals have been firming.
APW Vic is up AUD $33 per tonne, NSW up AUD $20, SA up AUD $43 and WA up AUD $22.
For feed barley, Vic is up AUD $10, NSW up AUD $15, SA up AUD $20 and WA up AUD $9.
For the delivered market players, the Darling Downs wheat prices have risen AUD $20 for wheat to AUD $325 delivered the Downs.
Barley has only risen AUD $7 to AUD $305 delivered.
New crop ASW delivered to the Melbourne markets has risen AUD $35 to AUD $355 / AUD $360 for new crop and barley has only risen by AUD $8 per tonne.
As can be seen, barley is unloved because China has slowed down buying bulk, but they are buying a lot of boxes.
When do they come back in? Some say January.
For further market commentary please contact the CGX team on 1800 000 410
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