Grain Report Wednesday - 18th September
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!
Markest wandered aimlessly around the pits last night like a lost husband at David Jones.
All three major commodities, wheat, corn and beans were all basically unchanged.
Matif and Winnipeg canola were both up. Stats Canada decreased their canola crop by 200,000 mt to 19 million mt.
Their wheat crop was slightly lower than the August forecast at 34.3 million mt, but it’s a bigger crop x 1.4 million tonnes this year.
The Aussie dollar was up, and the Jan ASX wheat contract was off $6 yesterday, for no other reason than someone sold it.
It looks like there is some rain forecast for Victoria and SA next week. But it misses the Riverina which also needs a drink.
The Ruskie forecaster SovEcon increased the Ruskie wheat crop by 400,000 tonnes due to better spring wheat yields in Siberia. A week ago they were declaring regions in Siberia were in states of emergency due to excessive rains. Well, rain makes grain. 10% gets wiped out and the other 90% has a better yield.
To offset the “large” increase in the Ruskie wheat crop the Frogs lowered their wheat crop by 540,000 tonnes to 26.32 million tonnes of crappy wheat.
So, today we have less wheat in the world.
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
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