Grain Report Monday - 16th September
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.
Look Out!
Wheat and corn up strongly on Friday night.
I think the world is slowly starting to realise the global wheat balance sheet is precariously clinging to a Macpac jacket.
And just to add a little bit more fuel to the fire, the Get It India government has reduced the tonnage of wheat traders and processors can hold as stock from 3,000 tonnes to 2,000 tonnes. This is to put some water on their local prices which are getting squeezed due to tight supply. It's only September and their next wheat harvest is 7 months away. Nothing to see here as a building bursts into flames.
India is also having a few quality issues with pulses due to wet weather. They have extended the duty-free imports for yellow peas out until the end of the year.
The Gypo government did a private under the table deal with a trader for the supply of 430,000 tonnes of Ruskie wheat at USD $235 CNF (Cost and Freight) Egypt.
Also, the Iraqi’s plan to import 2.5 million tonnes of Ruskie wheat over the next 12 months.
Maybe the USDA and the US Food Ag Services (FAS) should compare notes every so often.
Last week the USDA called the Khazak wheat crop 16 million tonnes and this weekend the FAS came out with 14.2 million tonnes which is only 1.8million tonnes less. Khazak was down to export 10.5 million tonnes, but that aint gunna happen now.
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
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