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Grain Report Friday - 27th January

Our goal is to help growers and their agents determine the selling price for their grain by providing relevant price discovery each day. Check out the moves in overnight international markets and yesterday's actual traded prices across Australia. There's also market commentary giving context and comparisons to prices of international physical markets. If you need to change your offer price, simply edit it before market open.

What price do you want for your grain?

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 up again last night – that’s 3 days in a row for wheat and corn.

  • Chicago wheat has firmed 33 cents / bushel which is AUD $12 per tonne after adjusting currency.

  • Kansas wheat has firmed 46 cents per bushel, which is AUD $17 per tonne.

  • Reports out of Ukraine that wheat production for 2023 will fall to 16 million tonnes, which is 4 million tonnes less than this year.

  • Corn production in Ukraine is also set to fall to 18 million tonnes, compared to 22 million tonnes last year and 42 million tonnes in 2021.

  • Pre-invasion, Ukraine produced 75 million tonnes of Corn and wheat. In 2023, this output is forecast to be 34 million tonnes.

  • Iraq purchased 150,000MT of Australian 11% protein wheat at USD $445 C&F(Cost & Freight) Umm Qasr.

  • This works back to AUD $556 FIS (free in store) WA / AUD $533 Track east coast Australia which are over AUD $100 more than grower bids.

  • This purchase is USD $16 and USD $51 lower than their purchases they made one month ago.

  • After adjusting for currency, this is AUD $62 and AUD $114 lower than their December purchase.

  • The Aussie dollar has firmed 4 cents over this period, which accounts for AUD $28 of the lower price.

  • On the 22nd of December, the WA FOB (free on board) value was quoted at USD $361 FOB.

  • Last week, it was quoted USD $354 FOB, or USD $7 lower over the month, which is AUD $29 lower after currency adjustment.

  • So, the world market has fallen around AUD $30 over the month, but we sold to Iraq at AUD $62 and AUD $114.

  • For what it's worth, Russian wheat, the world benchmark or bottom, was USD $310 on the 22nd of December and was quoted USD $309 last week.

  • US Hard Red Winter ex Pacific Northwest, was USD $393 on the 22nd of December, and last week it was quoted at USD $391?

  • So, world markets off a buck or 2, and Australia drops its pants and sells USD $16 and USD $51 lower, over the same period?

  • Maybe having several companies offer Australian wheat to one buyer doesn’t provide a greater return for the Australian farmer (whoops, I just hopped back on my soap box again).

Most importantly we're always here to help!

Please give us a call or email if you have any questions.

Call 1800 000 410 or Email

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