Grain Report Wednesday - 29th March
Our goal is to help growers and their agents determine the selling price for their grain by providing relevant price discovery each day. Check out the moves in overnight international markets and yesterday's actual traded prices across Australia. There's also market commentary giving context and comparisons to prices of international physical markets. If you need to change your offer price, simply edit it before market open.
What price do you want for your grain?
Look Out!
Kansas wheat up last night, Chicago wheat up slightly, corn unchanged and beans up strongly.
Wheat is still being supported by Black Sea tension and dryness in Kansas which could impact on Hard Red Winter production.
The Kansas Hard Red Winter crop is rated 52% poor to very poor and only 19% good to excellent.
Hard Red Winter usually makes up around 30-35% of US wheat production.
India will keep the wheat export ban in place until the government feels comfortable with supply.
In the same breath they advised they will produce a record 112.18 million tonne crop.
After being hit with February heat waves and then some hail and heavy rains 2 weeks ago, I think this is a wait and see crop.
The market has the 112 factored in, so any disruption to production will be supportive to world prices.
Analysts are guessing US wheat plantings will be up around 7% this year and corn acres up between 2-3%.
Last month the USDA spun a wheel, and it landed on 49.5 million acres of wheat acres being planted, up over 8% and the largest planting since 1996.
The USDA will come out with their planting guess and quarterly stocks report this Friday.
This will give us some pretend numbers to trade around until the fundamentals kick in.
Most importantly 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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