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Grain Report Friday - 17th November


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 was softer last night, and corn was up a notch.

  • Oilseeds got slapped with a dead fish, with beans and canola all off on rains falling across central Brazil and forecast cooler temperatures.

  • Crude oil prices are at their lowest in 4 months and palm oil prices softened this week.

  • Add to that, Biden His Time calling the Chinese Cricket Team Xi, a dictator for locking people up in covid, only allowing 1 hour exercise per day, 5km travel restrictions and you couldn’t play golf; oh hang on I might have my dictators mixed up? 

  • Anyway, the statement was a concern to trade relations between the two countries and added to the bearish oilseed tone last night.

  


  • OK, death by a thousand numbers as I report on the International Grains Council (IGC) monthly supply and demand stab in the dark guess released last night.

  • They upped the total wheat production by 2 million tonnes to 787 million tonnes versus USDA at 782 million tonnes.

  • They have the Aussie crop at 24.4 million tonnes and Argie at 14.7 million tonnes, which are around the ballpark.



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