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Grain Report Monday - 15th May

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)

Look Out!

  • The USDA came out with their guess for commodity Supply and Demand for the 23/24 marketing years.

  • And guess what, Houston, this is Dom Strong Arms, on channel, you got me, over and out.

  • Dom Strong Arms, this is Houston, we can hear you loud and clearly, go ahead.

  • Houston, we have a problem!

  • Is there something wrong with your wheat ship Strong Arms.

  • Unfortunately, I must stop there as I move into my analysis of the 23/24 world supply and demand guess released on Friday night, and because it drills down to price forecasts and outcomes for next year, it's only available for subscribers.

  • However, I can share with you the following.

  • The corn outlook was as bearish as hell with world production for 23/24 up 69 million tonnes. This is a huge call, considering the Yanks are still planting and Argie and Brazil don’t plant their corn until later in the year and the 2nd Brazil crop (their largest crop) is planted next Jan – March. Shit, the Brazilians are still harvesting this year’s crop.

  • I hope they haven’t gone the early crow, like some fella who was coming 3rd in the footy tipping a couple of weeks ago and has just crashed into a tree. I also wish to retract the statement that the CGX footy tippy ladder is a barometer of world commodity market intelligence. This is an absolute crock and I was just using it for marketing and self-promotional purposes.

  • The soybean report was also bearish with world production up 40 million tonnes with crops that are just being planted or planted at the end of the year.

  • Unfortunately, soybeans are the biggest oilseed crop, so that might not be supportive for canola seed prices next year, however, as I buy a fair bit of canola meal, my feed consumers will be happy, or at least as happy as a dairy farmer can get?

  • If you want to know what these world reports mean and my view on prices, then for the cost of 1 beer at the footy, subscribe.

  • Try it out for a month, and if you don’t like it, swipe left (I have no idea which way to swipe if you don’t like something, but there was a 50% chance I could be correct).

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