Grain Report Tuesday - 28th 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 markets moved lower the past couple of nights as relieving rain reached parched areas of Argentina.
Keeping markets on the back foot were ideas that lower Argentine grain export taxes would make its grain more competitive and lead to a surge in exports.
Markets also seemed defensive about the prospect for tariff announcements on 1 February.
US wheat exports slumped again last week while corn and soybeans were in line with expectations.
Freezing weather in the US is likely to have damaged up to 15% of the US winter wheat crop.
European wheat futures slipped to a 6-week low as France struggles to export its meagre crop as it is pushed out of its traditional north African export markets by Black Sea suppliers.
Russian wheat prices inched up by US$2/t last week despite lacklustre demand as supplies tighten.
$A supported at 62.8USc by Trump saying he would rather strike a deal with China than use tariffs.
BOM hot and dry.
Feed barley prices are starting to inch higher. Livestock feeding is ramping up across Southern Australia from WA to Victoria and stocks will become more difficult to prise out of the grower's hands.
24/25 Best Bids 24/1
Wheat APW1 $372/t Kwinana (n/c), $345/t Geelong (n/c).
Feed barley $342/t Kwinana (+2), $325/t Geelong (+2).
Canola non-GM $850/t (+5) & GM $705/t (n/c) Kwinana, non-GM $786/t (-16) & GM $663/t Geelong (n/c).
Open Market Call
Feed grains firm. Milling wheat grades and canola lower.
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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