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Grain Report Friday - 26th May

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)

Look Out!

  • Markets like a bag of lollies last night.

  • Chicago wheat down, Kansas up, Corn and bean nearby contracts up and the deferred were down.

  • I just dropped the bag of lollies; they are now all over the shop.

  • Just off subject for a moment, I have been completely humbled over the last month with the number of farmers taking up my subscription offer.

  • It’s as cheap as chips and some people think I am an idiot, underselling my 30 plus year of industry experience.

  • But I am completely humbled by the number who have taken up the subscription offer.

  • They are Simply The Best.

  • On another off-topic subject, I trade a large volume of Almonds hulls every year. Due to the wet spring last year and reduced amount of hay (fibre), almond hulls have gone nuts.

  • We get the almonds off a nut bush well beyond the city limits in the northern mallee.

  • Also, I have been asked to somehow incorporate the NRL into my reports, for the NSW and QLD farmers, and I thought there may have been an opportunity with their ambassador, Tina Turner passing away, but we don’t need another hero to write about, the AFL is enough.

  • Ok, that’s my tribute to Tina Turner done.

  • I have just returned from a GIAV meeting where we had presentations on weather forecasts from Jane Bunn and S&D reports from Crop Forecasters and Gas and Oil forecasts from CBA.

  • Whilst we cannot share the exact numbers and presentations with non-subscribers, I can say their overall sentiment and forecasts were heading towards where our views already sit.

  • I can however tell you Diesel refining is increasing at levels not seen for decades, and Chinese exports come back online, but oil prices are likely to rise with OPEC reduced supply. So Bearish Diesel and Bullish Oil, which means we might see diesel prices at the bowser cheaper than fuel prices again.

  • We are already seeing a slight change in Transport freight rates, which will impact on Track to cash market conversions.

  • I am going to do a piece on this next week for my subscribers and look at the impact on ex farm values if freight rates change and what this means for forward selling new crop. Of course, this is only important if you play and execute into the domestic markets.

  • I must head off now and practice my golf before an important tournament tomorrow.

  • I hope it doesn’t rain, as I Can’t Stand the Rain when I play golf..

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