Grain Report Wednesday - 22nd 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.
Grains rallied after Trump’s delayed tariffs and on worsening South American weather. Funds continue to add to their long positions on corn and soybeans.
It is too wet in central Brazil and too dry to the south which is heightening concerns about disease, yields and harvest delays.
The fund long in corn is at its highest level since May 2022 with a building long in soybeans.
Wheat played catch up with news that Egyptian ships were on the way to Russia to pick up wheat, although the supposed Russian counterpart is denying any deal has been done with the new Egyptian purchasing authority.
EU rapeseed imports were up 5% for the 24/25 year beginning in July with Australia holding a 25% share behind Ukraine at 51%. EU soybean imports were up 15%.
Agriculture and Agri-Food Canada issued its supply and demand report on Monday, forecasting canola production for 2025/26 to slip to 17.5mt from 17.85mt in 2024/25, with ending stocks for the coming crop year tightening to 950,000t.
Feed barley prices in the Ukraine have moved in line with wheat values as supplies tighten. Demand for feed barley increased as it was priced at a US$30/t discount to wheat and corn. Ukraine barley exports for the year to mid-January were 2mt vs 1.2mt last year while domestic consumption across the Ukraine feed industry also increased.
$A supported at 62.5USc by better copper prices and no US tariffs.
BOM hot & mostly dry.
Higher corn prices are making our feed grain easier to sell into Asia with feed barley exports jumping higher in November as new crop availability increased. Our barley is close to working into the Saudi market as available Black Sea supplies tighten. It seems that the base under our grain values seems to be building.
24/25 Best Bids 21/1
Wheat APW1 $375/t Kwinana (+5), $344/t Geelong (n/c).
Feed barley $340/t Kwinana (+3), $316/t Geelong (+4).
Canola EU $845/t (n/c) & non-EU $740t (n/c) Kwinana, EU $800/t (+4) & non-EU $665/t Geelong (n/c).
Open Market Call
Firm to higher.
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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