Grain Report Tuesday - 31st December
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.
Grains were mixed in choppy, thin trade overnight on international exchanges. Canola fell both in Canada and Europe.
Traders are keeping an eye on moisture concerns in Argentina and in Russia.
Ukraine grain exports contracted sharply in December compared to last year: wheat down by 52% and barley 45%. We should soon see weaker trade flows out of Black Sea start shifting demand to other origins.
Ukraine is building closer ties with Syria in a bid to usurp Russia as its key wheat supplier.
Weakness in palm oil dragged canola down in the absence of leads from elsewhere.
$A still languishing at 62.27USc.
BOM the QLD/NSW sorghum belt should get a good drink in the next week.
ASX wheat up a little to $324/t.
Most local cereal markets are within $1-2/t of pre-Christmas values. Lentils and field peas have bounced $10-15/t to $918/t and $609/t Wallaroo. Feed barley up $7/t to $325/t Kwinana, narrowing the malt spread to just $5/t in WA. Sorghum $320/t Newcastle and $313/t Brisbane. Most canola values have lifted $5-10/t on west coast and $15-28/t on east coast as basis improves on a slow-down in farmer selling.
24/25 Best Bids 30/12
Wheat APW1 $370/t Kwinana (n/c), $351/t Geelong (+1).
Feed barley $325/t Kwinana (+7), $311/t Geelong (-2).
Canola EU $860/t (+5) & non-EU $730/t (+10) Kwinana, EU $780/t (+15) & non-EU $676/t Geelong (+28).
Open Market Call
Firm. We should start to see basis recover in the next few weeks, ahead of a lift in international values as export volumes out of Europe slow-down.
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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