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Wednesday 30th November

Australia's Independent Grain Report

Your new daily price discovery  

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?

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Wednesday 30th November
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Quiet night on the futures markets with wheat, corn and beans all relatively unchanged.
Reports of India having a bin buster crop next year. Bit early to start crowing over a crop that has just gone in the ground, but planted hectares increased due to high wheat prices. This year, India had their chest pumped out and was going to have a record crop and started exporting wheat to the world. Then someone checked the bins, and said “good golly blimey me, we only have 95 million mt, not 110 million mt…stop the exports!” This was in May 2022 and our markets went up $100 pmt to over $500 delivered Melbourne.
Jordan cancelled their wheat tender with no prices leaked.
The ASX Jan 23 wheat futures contract continues to fall, off another $4 to $403. Reports that the Vic wheat crop might get through without too many quality issues.
Barley is a mixed bag with test weight concerns. BAR1 Track VIC is around $310 and Port Kembla $320 Dec/Jan. This puts Melbourne delivered market around $355 level.
Add to this, the GrainCorp Geelong terminal price is $372, which is telling the market, we need some barley into the terminal to load a boat.
SFW wheat being offered $340 FOT (Free on truck) in the Sth Riverina, site bids in the Sth Riverina are around $310 which puts it at $330 FOT!
ASW wheat in WA is trading at $335 FIS Kwinana or USD240 FOB (Free on board) equivalent. To put that in perspective, Russian Feed wheat is trading at USD290 FOB and they will export almost 5 million MT of wheat in November!
Like the stars, at some stage the markets will need to align

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