Grain Report Wednesday - 10th 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.
Look Out!
Jump down, turnaround Tuesday with markets all up last night.
The market is positioning itself for Friday's USDA World supply and demand guess, which will be all the Brazilian soybean and corn crops.
Things could get hairy if they don’t shave much off the Brazilian bean crop, as the market has already priced in a mid-150 million tonne crop.
The corn crop should be lower than their previous forecast of 129 million tonnes, but I reckon the Yanks will be conservative.
They don’t like inflation in election years and corn is made into ethanol. And higher corn prices, equals higher ethanol prices, equals higher supply chain costs which adds to inflation.
Sorry I am a conspiracy theorist when it comes to the USDA reports.
The Egyptians bought 360,000 tonnes of Ruskie wheat and one 60,000 tonne cargo of Ukrainian wheat.
The 6 cargoes of Ruskie wheat were all sold by 3 Trading companies who sold 2 cargoes each and all at the same price of USD $265 FOB (Free on Board).
The Ukrainian cargo was sold 5 cents under the Ruskie wheat at USD $264.95.
I’m not sure why they didn’t offer USD $264.99?
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