Grain Report Wednesday - 16th 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.
Grains lower on forecasts for rain across southern Russia and northern Brazil which will assist planting and broad-based weakness in commodities on worries about the Chinese economy.
US weekly wheat exports were in line with expectations at 370,000t. Still waiting to see a kick-up in sales. US soybean exports in-line but corn exports were below expectations.
France lowered its 24 crop estimates for wheat, barley and rapeseed but increased corn
Russia’s Grain Exporters Union began publishing indicative export prices for Russian wheat 12.5% FOB port of Novorossiysk at US$240/t for October, $245/t for November and $250/t for December. This essentially ends the argument that exporters were not aware of pricing levels and is an attempt by the Russian Government to better control pricing. So far, the market is ignoring the impact of this.
Canola sharply lower in Canada and lower on European exchanges. Probably taking the lead from general commodity market weakness, although no more talk of Chinese buying of Canadian canola might be hurting.
ASX no trades but $331/t indicative, down $5/t from last trade’s on Friday.
$A at 67USc and under pressure as Trump polling resurgence puts pressure on China’s currency
BOM patchy rain of 10-15mm across parts of SA and eastern NSW and forecasts for much the same next week. No impact, maybe delay harvest in southern QLD for a day or two.
Clear Grain Exchange (CGX) traded 3,500t of old crop in 23 trades with most focus on feed barley up to $320/t WA ports and $317/t Vic ports
24/25 Best Bids
Wheat APW1 $375/t Kwinana (n/c), $356/t Geelong (-4)
Feed barley $321/t Kwinana (+2), $324/t Geelong (n/c)
Canola non-GM $805/t (-8) & GM $733/t (-12) Kwinana, non-GM $763/t & GM $708/t Geelong (-4)
Clear Grain Exchange (CGX) Open Market Call
Will be softer
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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