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Grain Report Friday - 16th 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!

  • Markets exploded last night, kaboom.

  • Wheat up around AUD $15-$16 per tonne, corn up AUD $15 in the new crop position and beans up AUD $27.

  • Why?

  • Apparently, you need some wet stuff from the sky to grow corn and beans, and in the US, this wet stuff has been lacking.

  • The Aussie dollar keeps firming again and is now over 69 cents for December, up a couple of cents since the start of May. Every cent the AUD rises reduces prices back in growers’ pockets by AUD $6 per tonne, but electric cars, TV’s and air fryers will be cheaper.

  • In other sad news, apart from the Cats suffering a premiership hangover, the BOMB, have raised the probability of a Spanish backpacker arriving and travelling around Australia this year to 70%.

  • But, hey, there’s a 30% chance the Spanish backpacker misses his plane or gets Covid or gets arrested in Asia. I’m a glass less than a third full type of guy.

  • Crop production in Europe keeps getting wound back due to dry conditions in Spain, Poland, and northern France, which has now seen Spain import some Russian wheat.

  • “Damn you Putin, get out of Ukraine. Oh, and by the way, you don’t have a spare vessel of wheat do you?

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