Grain Report Tuesday - 8th October

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.

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Wheat led corn higher again as the market starts to build in a risk premium on poor weather across Europe.

Russia has reduced 2024 grain estimate to 132mt due to bad weather and Ukrainian attacks in southern border regions which meant some areas couldn’t be harvested. Ongoing dry weather making winter wheat planting difficult, although some forecast of rain in about a week?

Saudi Arabia bought over 300,000t of wheat probably from the Black Sea but at what price? Black Sea offers have been rising as wheat availability tightens.

Russia hit another Ukraine grain vessel at the port of Odessa.

Wet weather is delaying planting across western Europe.

Corn followed wheat higher as speculators trimmed short positions across the entire grain complex….funds now hold their least bearish position since Aug 2023.

Soybeans fell on forecasts of rain in Brazil and rapid US harvest pace.

Canola and rapeseed prices were firmer on a tight supply outlook.

$A down to mid 67USc’s on $US strength as Middle East situation worsens.

ASX closed yesterday.

BOM forecast has rainfall increasing (15-50mm) for most cropping areas of QLD and NSW.

Clear Grain Exchange (CGX) trades yesterday

H2 wheat $359/t Melbourne

Feed barley $314 Kwinana

Best bids

24/25 Kwinana ASW9 $342/t, feed barley $318/t, CAN1 $781/t

24/25 Geelong APW1 $349/t, feed barley $312/t, CAN EU $740/t

Clear Grain Exchange (CGX) market open call

Firmer on lower $A and solid international lead, southern port basis should continue to firm

For further market commentary please contact the CGX team on 1800 000 410

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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