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Grain Report Friday- 20th 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!

  • US futures all up last night, but canola seed bucked the trend and was off strongly in Canada and Matif.

  • That doesn’t make sense as the whole oilseed complex is supported by the overall concerns for oil supply due to the Middle-East conflict.

  • The International Grains Council came out with their monthly guess last night.

  • They increased world production by 2 million tonnes to 785 million tonnes, which is 18 million tonnes less than last year. Australia alone has dropped 15 million tonnes from last year.

  • The USDA has world wheat production at 783.4 million tonnes, so at least the IGC and Yanks are in the same paddock.

  • They put the Aussie wheat crop at 24.4 million tonnes and Argie at 15.6 million tonnes.

  • Regarding demand and exports, they have world consumption up 8 million tonnes from last year at 804 million tonnes, but exports are lower by 11 million tonnes at 197 million tonnes.

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