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Grain Report Friday- 15th December

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!

  • Chicago wheat rebounded last night to finish higher after previous days sell off.

  • Soybeans were also up, but Matif and Winnipeg canola were both off.

  • The Aussie dollar has firmed on the back of the USD weakening to 67 cents, which doesn’t help our prices.

  • ASX settled down AUD $7 per tonne yesterday, which is back to low mid-November levels after that big rain on the East Coast that boosted yields.

  • Rains forecast for Brazil, however there is a new issue arising with seed shortages for farmers looking to replant soybean crops.

  • I think the 161 million tonne crop the USDA has forecast is a Field of Dreams.

  • I also think their forecast of a 129 million tonne corn crop is also in the same field of dreams as beans.

  • Things in Russia and Ukraine for their 23/24 wheat crops are looking good, so nothing to see over there.

  • However, the Russian guru SovEcon reports that domestic prices in Russia have bottomed out.

  • This happens seasonally after the northern hemisphere harvest finishes, selling tightens up and world prices lift in the January – March period.

To read more, subscribe to Outlook Commodities Morning Commentary

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