top of page

Grain Report Friday - 4th October


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

Wheat and corn lower on profit taking with no real change in fundamentals.

 

No rain in the forecast for southern Russian wheat areas, conditions are better in Ukraine and Romania.

 

Russian grain exporters union is agitating for export restrictions.

 

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).

 

US weekly exports at 443,700t above the top end of expectations.

 

Argentine forecasters have warned corn plantings could fall amid ongoing dryness.

 

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.

 

Canola and rapeseed values are higher in Canada and Europe on fund short-covering and lower Aussie production estimates.

 

Local news

$A down to 68.5USc as $US strengthens ahead of US jobs data.

 

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).

 

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.

 

ASX traded to $342/t yesterday and settled at $339/t (+$7/t).

 

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

 

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

 

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


igrain logo

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

3 views0 comments

Comentários


Do you want to know more?
Subscribe to our newsletter.

Thanks for submitting!

bottom of page