Grain Report Friday - 23rd August
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.
Look Out!
Like the Adelaide Crow player who made an observation of Port Power supporters’ teeth, or lack thereof, the markets were completely abandoned last night.
Chicago was off AUD $6 and Kansas was off AUD $5 per tonne.
The row crops were not spared, with Corn off AUD $3 and beans off AUD $13.
Looking at world values, Russian wheat, the bottom benchmark is quoted at USD $220 FOB for September.
US Hard Red Winter ex the Pacific NorthWest is quoted at USD $235 FOB for September shipment, which is a concern for Australia competing into the Asian markets.
If Russian values remain flat, which goes against seasonality price increases, but let me be a Hanrahan, then at USD $50 over the Ruskies, Aussie APW wheat is USD $270 FOB WA and call it USD $260 FOB Easy Coast, with Port Kembla being the lowest pricing point on the east Coast this coming season. That’s their own fault for growing a 12 million tonnes wheat crop.
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