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Grain Report Friday - 09th June

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!

  • Last night the markets were up across wheat, corn and beans, as the funds and speculators adjust their positions before tonight’s USDA guess.

  • The corn number will be interesting, with a dry start and the crop hanging out for rain.

  • Has anyone listened to the song Chirpy Chirpy Cheep Cheep by Middle of the Road.

  • As you listen to it, just think about wheat prices.

  • Anyway, I digress.

  • I love June rain post sowing, with an El Nino looming and world stocks held by the majors as tight as a (add your own word here), floods in China, a busted dam in Ukraine, and Northern Europe and Russian spring wheat areas a bit dry.

  • I am a buyer, Chirpy Chirpy Cheep Cheep.

  • Reuters reporting Bunge and Viterra are finalising the merger, creating a USD $30 billion grain company.

  • Also, after the Ruskies dropped their pants the other day at the Saudi Tender, the Russian Ag Minister has told traders not to sell below USD $240, or you may fall out a skyscraper window.

  • I love controlled free markets.

  • One of my favourite quotes from my cousin, who is also a farmer, “there is nothing wrong with a deregulated market, as long as we get a guaranteed minimum price above production costs”.

  • Would be nice if that Aussie dollar stopped firming; it’s up 2 cents since the end of May, which has taken AUD $12 out of the grower's pockets.

  • Ok, enough rabble today, let’s see what numbers the USDA fortune tellers come up with tonight.

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