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Grain Report Friday - 10th 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?

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)

Look Out!

  • Wheat and corn markets got smashed last night. Beans also got caught in the wash and were dragged lower.

  • The Buenos Aires Grains Exchange (BAGE) came out forecasting the Argie corn crop at 37.50 million mt which is 2.5 million lower than what the USDA put out yesterday.

  • Another Argie Industry reporting group, the Rosario Grains Exchange called the Argie corn crop 35 million tonnes this week, which is 5 million under the USDA.

  • The Argie corn crop is rated as 59% poor. It was 56% last week and 22% same time last year. So, their crop conditions are not improving as their harvest commences.

  • BAGE also called the soybean crop 29 million tonnes, 4 million tonnes lower than the guess the USDA put out yesterday. The Rosario exchange called it 27 million tonnes.

  • I think Hanrahan works for the Rosario exchange.

  • The market seems to be ignoring the corn issues in Argentina, as well as the late planted 2nd corn crop in Brazil, which is 70% planted, 10% behind last year. The optimal sowing window for maximum yield of this crop closed on the 22nd of February, 2 weeks ago. But, according to the market, there are no problems in South America.

  • Australian APW wheat is quoted at USD $329 FOB (Free on Board) WA or around AUD $465 FIS (Free in Store) WA and AUD $450 Track East Coast. This is off USD $4 from a month ago, which is not bad, considering how much other origins have fallen since mid February.

  • French wheat is the cheapest wheat in the world at USD $284 FOB. French wheat has fallen USD $39 since mid-February.

  • Russian wheat has fallen USD $7 since mid-February and is currently quoted around USD $296 FOB.

  • US Hard Red Winter ex the Pacific NorthWest (PNW) has fallen USD $47 the last 3 weeks.

  • Argie wheat, which usually competes with Aussie wheat over the Jan – April period, during their harvest is quoted at USD $351 FOB.

  • Seasonally, world prices tend to firm over this period, as Northern Hemisphere supplies tighten, however this year the opposite is happening, indicating that all is good in the world and there are no potential supply or production issues?

  • Maybe me and Trumpy have been reading fake news?

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

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