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Grain Report Friday- 13th 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!

  • USDA World Ag Supply and Demand stab in the dark, pick a number out of the hat, throw a dart of the board report last night.

  • World wheat production was dropped by 4 million tonnes, with Australia down to 24.5 million tonnes and Kazakhstan down by 2 million tonnes to 13 million tonnes.

  • But they left Argie at 16.5 million tonnes. Wrong, wrong, wrong Yahna.

  • They also bumped up the US crop by 2 million tonnes to 49.31 million tonnes and dropped world consumption by 3 million tonnes to 792.86 tonnes.

  • Not quite sure how they produce this number, as the major importers consumption is basically unchanged, and all they did was knock 1 million off the Ruskies feed consumption.

  • End of the day, stocks held by the major exporters remained unchanged at 51.5 million tonnes, which is 7 million tonnes less than last year.

  • The world corn S&D was boring with no major changes. Corn ending stocks were dropped by 1 million tonnes to 312 million tonnes and production was basically unchanged.

  • The US corn crop was reduced by 2 million tonnes to 382 million tonnes, and they knocked 3 million off their ending stocks, which is slightly supportive of US corn prices.

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