Grain Report Wednesday - 11th 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.
Grain prices were higher as USDA reduced end stocks projections on strong demand for US corn.
Higher protein wheat values led the rises as Russian crop conditions provide support. US weekly wheat export inspections were below expectations at just 227,000t.
Russian export taxes are starting to bite with exporting becoming less profitable. Expectations are for Russian wheat exports to fall to around half normal pace in December and then to a third by January.
Canola held firm despite losses across the vegetable oil complex.
$A lower at 63.8USc despite moves by China to ease monetary policy for the first time since 2011 in a bid to stimulate its economy.
ASX wheat flat at $325/t
BOM forecast is still clear for areas yet to harvest.
Wheat down $2/t on west coast but firm on east coast. Feed barley off $3/t west coast but up $5/t Geelong. Canola mostly lower. Field peas up $10 to 599/t Wallaroo.
It appears we have escaped widespread downgrading in unharvested crops in southern and eastern areas.
WA harvest will be finished by Christmas with all zones on track to exceed forecast tonnages.
24/25 Best Bids 10/12
Wheat APW1 $383/t Kwinana (-2), $355/t Geelong (n/c).
Feed barley $324/t Kwinana (-3), $310/t Geelong (n/c).
Canola EU $856/t (-9) & non-EU $735/t (-12) Kwinana, EU $801/t (+3) & non-EU $690/t Geelong (-8).
Open Market Call
We should be firm on most recent price levels.
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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