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Grain Report Friday - 2nd February

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!

  • Wheat and corn markets were mixed and relatively quiet last night.

  • Beans and canola were softer.

  • Looks like I got the Aussie wheat S&D wrong, apart from the crop potentially getting to 33 million tonnes if WA conditions improve.

  • Get It India is forecast for above normal temperatures through their main wheat belt in February, which could drop their current wheat crop.

  • My plumber mate who puts together all the shipping stem information is currently away, so we will review that next week.

  • It is ridiculous trying to find all the shipping stems from each port.

  • This information should be readily accessible, in one central location with sales reported on a weekly basis, like our competitors in the US.

  • Market transparency and information is key to making better pricing decisions.

  • Are we ahead of export pace in each state or behind?

  • Aussie farmers should do what the Frogs do and drive their tractors to Canberra in protest. 

  • However, it might mean WA farmers might be away for 2 months and miss planting.

  • The Philippines have purchased 96,000 tonnes of feed wheat from Australia at USD $280 C&F (Cost & Freight) for April – May delivery.

  • This works back to USD $255 FOB (Free on Board) Victoria or TRACK AUD $335 Geelong / Portland.

  • The current Geelong bid for SFWR is AUD $330, so around the mark for this export business.

  • However once again, the upcountry Bid is AUD $10 less than the delivered export terminal bid.

  • Are the BHC’s encouraging farmers to all buy their own trucks, build their own storage, and deliver directly to ports.

  • This is devastating, imagine the potholes?

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