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Grain Report Friday - 28th 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 went pear shaped quickly.

  • I said yesterday, don’t throw the baby out with the bath water, well maybe throw the water out and keep the baby.

  • All markets off, even after the downgraded crop conditions released Monday night after the market closed.

  • A few commentators are saying the market had already factored in the lower crop conditions into the market price and now with some forecast rain, it was time to take the weather premium out of the market.

  • Since the end of last week, corn is off AUD $40, and beans are off AUD $44.

  • Chicago wheat is off AUD $26, and Kansas is off AUD $17.

  • Let’s go back to that Basis calculation; corn at 550 cents add 100 cents for Chicago wheat equals 650 cents per bushel, or AUD $356.

  • Now put that on the stove for 5 minutes, bring to boil before we blend in some Basis.

  • How much I hear you ask?

  • I’m sorry, who are you?

  • A non-subscriber.

  • Please leave the kitchen, as I am only cooking this Bais stew for the subscribers, who fork out for my delicious and insightful dishes.

  • I am not a soup kitchen, if you want some free tucker, head off to Vinnies and line up with all the other non-subscribers.

  • There is no such thing as a free lunch from this commentator.

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