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Grain Report Friday - 23rd June

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, that’s it, the market rally is over; all is good again in the world.

  • Apart from the USDA reporting 64% of the US corn crop is in drought, up from 54% from last week and the rain forecasts for the big corn producing states are not that great.

  • Also, reports of extreme heat waves passing through northern China, which could impact on their corn production. Remember 1 month ago some regions in China experienced floods and heavy rains that affected wheat quality. It appears things are not all perfect in China this year. Maybe they will want our barley. They love our wheat, being our biggest importer this year.

  • The only crop in the USA in improving conditions is cotton.

  • There have been some “murmurs” that WA or SA barley could be shipped around the coats to hit the Darling Downs market.

  • When we looked at the numbers, WA/SA feed barley could make it to the Darling Downs at around $405 - $410, which is around $20-$30 under the current domestic Downs market.

  • So, yes it could work, but needs to compete for shipping capacity and export values.

  • But then again, if you get a free box of XXXX Gold, who knows what can happen.

  • So, where are values at?

  • APW wheat ex WA is up this week?

  • What the hell, isn’t world demand dead and aren't the Ruskies dropping their pants?

  • It’s all happening, but only the subscribers get to know what is actually happening.

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