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Grain Report Friday - 06th October

Market Almost Open - CGX daily report

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.

Chart including Wheat CBOT prices, Wheat Black Sea prices, Canola ICE prices and Canola MATIF prices

Grain trade prices for Australia Grain (wheat, barley, Sorghum, Lupins, Canola, Faba Beans, Oats, Chickpeas and lentils)

Dominic Hogan Outlook commodities comments

Look Out!

  • Wheat markets on a roller coaster this week, up again last night.

  • Corn and Beans followed in the seats behind wheat.

  • Matif canola was off a solid EU $14.50 per tonne, which is AUD $22 per tonne.

  • Crude oil continues to slide, off another 2% last night to USD $82.45 a barrel.

  • Things seem to be heating up in the world, with September being the warmest on record. How dare you!

  • In Australia, September 2023 was the driest on record. In the cropping regions, rainfall was extremely low to below average, except for in central Western Australia where it was average.

  • Talking of hot and dry, Argentina is also under a bit of pressure and conditions remain dry which could affect their wheat and corn crops.

  • Argie is forecast to produce around 15 million tonnes of wheat this season and 56 million tonnes of corn.

  • Reports are also coming out of Argentina that their soybean crushers will run out of beans before next year's April crop. This should be supportive of vegetable oil and meal, as the shortfall will need to be produced from somewhere else.

  • Higher veg oil prices equals higher oilseed prices. But these prices are also impacted by crude oil prices, which are falling.

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