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Grain Report Friday- 1st December

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 markets up again last night.

  • Soybeans and canola off slightly.

  • US Soft Red wheat futures are up AUD $20 since the start of the week.

  • US Wheat export sales were a solid 623,000 last week with China being the main buyer.

  • Also, strong corn and soybean sales of almost 2 million of each commodity.

  • Did I mention the Panama Canal has almost dried up and vessels loaded with wheat, corn and beans from the US Gulf ports might have to find another way to Asia.

  • Yankie freight into Asia is USD $35 higher than West Coast Australia into the same markets.

  • So if the Chinese Xi Cricket Team wishes to buy some US Soft Red wheat it will cost them around USD $300 landed. 

  • Or they can buy some higher quality Aussie ASW wheat from WA.

  • At parity with US SRW, it would work back to AUD $395 FIS (Free in Store) WA.

To read more, subscribe to Outlook Commodities Morning Commentary

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