Grain Report Tuesday - 31st January

Our goal is to help growers and their agents determine the selling price for their grain by providing relevant price discovery each day. Check out the moves in overnight international markets and yesterday's actual traded prices across Australia. There's also market commentary giving context and comparisons to prices of international physical markets. If you need to change your offer price, simply edit it before market open.

What price do you want for your grain?

Login to Offer grain for sale

Click here to view recent trades and search the market

Look Out!

• Not much excitement in the wheat and corn markets last night, both up slightly.

• Soybeans and Canola found some love and were up strongly.

• Winnipeg Canola was up around AUD $20 per tonne and Matif Canola up AUD $12 per tonne.

• Argie forecast for next 10-14 days is for conditions to be drier and temperatures warmer, which is not great for their corn and bean crops. Their corn and bean harvests start in March.

• The market is starting to become concerned about the forecast corn plantings in Ukraine this year, down 30 to 35% or 18 million tonnes.

• Ukraine doesn’t start planting corn until April.

• The forecast for Ukrainian wheat and corn production in 2023 is 15 million tonnes of wheat and 18 million tonnes of corn, down a total of 15 million tonnes on last year’s wheat and corn production.

• The Funds have been buying up corn futures which indicates they are bullish corn.

• The funds have also been selling wheat futures, indicating a bearish view, as they believe prices will continue to soften.

• Pretty brave position given the Black Sea situation remains tense, tighter corn drives wheat and reduced production forecast in the Black Sea region, with the 2023 Russian crop down to 10-15 million tonnes 85 million tonnes and Ukraine down 3 million tonnes to 18 million tonnes. It will be interesting to see which countries offset these forecast production losses in the 23/24 crop?

• Maybe Australia needs to produce another bumper?

Most importantly 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