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Grain Report Friday - 22nd 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!

  • Well, I’ll be, markets got smacked last night.

  • Wheat off, corn off, beans off; that’s it we’re all doomed, sell the farm.

  • But the International Grains Council came out reporting that world wheat production is declining for the first time in 5 years.

  • They forecast the world to produce 18 million tonnes less in the 23/24 to 783 million tonnes.

  • The USDA’s stab in the dark is 787 million tonnes.

  • The IGC has called the Aussie crop 25.4 million tonnes, Canada 29.8 million and Argie 16.6 million tonnes. I think they are too optimistic with the countries starting with “A”.

  • Interestingly, the IGC forecast world consumption at 803 million tonnes, which is 7 million tonnes more than the USDA.

  • Everyone keeps reporting demand is dead and declining, yet the IGC forecast world demand to increase by 8 million tonnes in 23/24.

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