Grain Report Friday- 24th October
- Clear Grain Exchange
- 12 minutes ago
- 2 min read
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Australia’s independent grain report—designed to help support your pricing decisions before the market opens at 10:00am AEST. If you need to change your offer price, simply edit it before market open.
Things were a little brighter in global grain markets overnight with signs of improved export interest. Some Chinese buying could help establish a low and shake some of the shorts out. Chinese buying interest could be linked to issues across the north China Plain where recent rainfall has been the largest for 60yrs and creating plenty of issues with summer crop harvest and winter crop planting.
BOM more rainfall in the forecast for southern cropping areas. While crops in SA/VIC got a drink this week, very little rain made it into southern NSW, where plains and outer slopes crops are fast maturing, and showing the effects of running out of moisture at the end of their growing season. The rain in SA/VIC will help grains fill but won’t add to yield.
Harvest across the north is rapidly gaining pace with canola and barley harvest starting in northern NSW. Growers are selling canola and will look to sell a portion of their milling wheat and chickpeas before storing the rest and going to the beach. Southern markets are in a standoff with consumers comfortable to sit back and let the grain come to them knowing that the grower will need to sell for cash flow.
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