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Grain Report Monday - 13th November

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 were off and beans up slightly.

  • Winnipeg canola was up solidly.

  • A lot of focus is on Brazil and continued dryness and record temperatures in the Matto Grosso region which accounts for 26% of Brazilian soybeans.

  • As a result, the Chinese have stepped up and bought over 3 million tonnes of US soybeans last week.

  • Also, the Yanks have just finished their soybean harvest, so best to buy fresh off the header.

  • But the big story that may come out of Brazil will be the delayed planting of their Safrihna or second corn crop.

  • Russian exports for the 23/24 marketing year are falling behind pace and as we head into winter, logistics are put to the test.

  • The USDA forecast the Ruskies to export a record 50 million tonnes of wheat this marketing year.

  • Back of the envelope barley balance sheet.

  • The ABS reported Australia exported 6.9 million tonnes of barley in the 22/23 marketing year.

  • With carry-in stocks of 2.8 million tonnes and 22/23 production at 14 million tonnes, we had almost 17 million tonnes of barley to play with.

To read more, subscribe to Outlook Commodities Morning Commentary

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