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Grain Report Friday - 15th September

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 and corn off last night, beans and canola up.

  • StatsCan forecast the Canadian wheat crop at 29.8 million tonnes, up slightly from last month's forecast.

  • Reports Get It India have no plans to remove wheat import tariff, which means they will remove the tariff.

  • It’s a bit like the Egyptians saying they have enough wheat stocks for the next 6 months and then they call a tender.

  • Get it India have also announced wheat wholesalers can only hold 2,000 tonnes of stock, down from 3,000 tonnes.

  • Just rip the band-aid off and get on with it.

  • WA received some timely rains whilst the rest of the country remains dry and heating up.

  • ASX Jan 24 wheat traded up to AUD $432 yesterday, which is up AUD $8.50 from the previous day's settlement.

  • With ASX firming and Chicago falling, basis is now AUD $94 per tonne, which is on the higher end of our forecast.

  • But as we have reported previously, we see Chicago firming and our values remaining around these levels, unless of course we see a disruption to world wheat supply in the Black Sea, or Get It India imports wheat, in which case hold on to your hats.

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