Grain Report Friday - 7th November
- Clear Grain Exchange
- 5 hours ago
- 2 min read
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Australia’s independent grain report—designed to help support your pricing decisions before the market opens at 10:00am AEST. If you need to change your offer price, simply edit it before market open.
Chicago soybean and wheat futures took a nosedive on Thursday, retreating from multi-month highs on ‘superficial’ Chinese grain purchases from the US.
Local harvest has moved south into the heart of NSW with northern values increasing $5-10/t over the week as end users try to encourage grower selling. In Victoria and South Australia harvest is being delayed by cool showery weather. Southern growers are not incentivised to sell given production and quality uncertainty and will wait till it’s in the bin.
The international market is waiting for signs of the strength of China’s commitment to purchase large volumes of US ag goods in line with US announcements and this is the largest factor swaying international markets. There seems to be a gradual firming in global feed barley prices and buying interest but so far this hasn’t translated to a lift in Australian port values. Prompt delivered feed grain markets into Melbourne end users continue to firm gently as Vic harvest is delayed to $380/t, up $5/t.
BOM forecast has more of the same with showery weather, particularly for the south-east. There was patchy rain of 5-20mm through the WA wheatbelt, inner Geraldton zone and parts of the central wheatbelt and lower parts of the Albany zone copped the heaviest falls.
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