Grain Report Friday - 4th October
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.
Wheat and corn lower on profit taking with no real change in fundamentals.
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No rain in the forecast for southern Russian wheat areas, conditions are better in Ukraine and Romania.
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Russian grain exporters union is agitating for export restrictions.
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FOB (Free on Board) Odesa (Ukraine) grain quotes jumped to $216-224 US/t (+$7-9/t) for milling wheat and corn to $214-219 US/t (+$13-14/t). Farmer port bids for feed barley up $2/t ($170-176/t) and rapeseed rose $20-30/t ($500-520/t).
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US weekly exports at 443,700t above the top end of expectations.
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Argentine forecasters have warned corn plantings could fall amid ongoing dryness.
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Soybeans are pressured by forecasts of rain across the soybean belt in northern Brazil and there are thoughts the US will lose business to Brazil due to the delay in EU deforestation.
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Canola and rapeseed values are higher in Canada and Europe on fund short-covering and lower Aussie production estimates.
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Local news
$A down to 68.5USc as $US strengthens ahead of US jobs data.
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Rainfall across WA was mainly inner wheatbelt while in QLD rain was west of major CQ cropping areas – no impact. BOM has rain for southern, central and eastern VIC which will benefit crops there. Hot (mid-30’s) over the weekend for QLD/nth NSW (early 30’s).
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WA harvest is not far away for those with early crops planted on rain from patchy thunderstorms. But the bulk of the crop is late and about a month away (2 weeks behind normal). The WA grower hasn’t sold much yet due to uncertainty of the season. The need for cash flow might see more harvest selling pressure than normal in the West.
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ASX traded to $342/t yesterday and settled at $339/t (+$7/t).
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Clear Grain Exchange (CGX) 23/24 trades
APW1 Kwinana $365/t (+$6/t), ASW Melb $329/t (steady),
Feed barley $310/t Kwinana, $307/t Melb
Canola $700/t Pt Adelaide, $750/t Kwinana
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24/25 bids
Wheat APW2 $360/t (+$7/t) Kwinana, $349/t Geelong (+$2/t)
Barley $316/t Kwinana (+$2/t), $308/t Geelong
Canola $770/t Kwinana (+$5/t), CANG $690/t Melbourne (+$15/t), CAN EU $705/t Pt Kembla
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Clear Grain Exchange (CGX) Open Market Call
Steady on a weak international lead
For further market commentary please contact the CGX team on 1800 000 410
CGX now own and operate the igrain market for grain stored on-farm
If you have any queries, we're always here to help!
Please give us a call or email if you have any questions.
Call 1800 000 410 or Email support@cgx.com.au
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