Grain Report Wednesday - 24th 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.
Look Out!
Beans and Kansas wheat were up solidly last night.
Matif canola was also up.
And that little piece of paper, the March ASX wheat contract was up almost AUD $7 per tonne yesterday.
Maybe the market has realised Mexican wheat is too cheap relative to the Sand Gropers.
It must be winter in the Northern Hemisphere as reports of bitterly cold winter conditions across the US Hard Red Winter wheat belt and parts of Europe are creating some concern over winter kill.
However Russian wheat is well covered in snow, with little to no impact from these cold conditions.
Each year over January and February, the market kills the northern hemisphere crops due to cold conditions, because nothing else is happening.
Talk about going the early crow, the CBA, yes, a bank, has come out and called the 24/25 wheat crop 31.4 million tonnes, barley at 12.7 million tonnes and canola at 5.8 million tonnes
Then in the same report from Reuters, the BOM, who is like a donkey running in the Melbourne Cup, has forecast median to above median rainfall across Eastern and South Australia in the near term but it’s uncertain about the lingering impact of the El-Nino.
The BOM obviously didn’t see the El-Nino backpacker hop on a plane in the first week of December and fly back to Brazil.
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