Grain Report Wednesday - 17th May
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,
Turn around Tuesday yesterday with all markets in the red, although Kansas wheat is still holding, as there are abandonment concerns and only 67% of the acres planted being harvested, lowest since 1917.
Soybeans got smashed as well last night, off AUD $20 per tonne.
As mentioned, I am bearish for Soybeans (which may impact oilseeds) for several reasons, which I can only disclose to subscribers.
No decision yet on the corridor with only 2 days left before expiry, or is the 17th of May the “Best Before” date, meaning it doesn’t necessarily need to be thrown out?
But a word of caution, if you read the back of the label, it does say, “this product should not be consumed in a tall building near a window in Russia”.
And whilst we all focus on the corridor, Hokey Pokey launched an intensive airstrike with missiles and drones on Kyiv last night.
Another one that I forgot to mention earlier in the week, as I was dissecting the USDA 23/24 crop report, was the Trade Ministers of Australia and China met in Beijing last Friday.
Unfortunately, Penny Wong and her father Mr. Wong were not invited, so nothing has changed. However, it all seems to be shaping up that barley trade will resume at some stage.
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