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Grain Report Monday - 22nd January

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!

  • Markets on Friday night was like watching tennis; unexciting.

  • Wheat was up slightly, corn and beans unchanged.

  • Matif and Winnipeg canola were also softer.

  • There really isn’t much happening in the global commodity markets, so it’s very hard to write a commentary when nothing is happening

  • The US Election officially starts this week and ends in November. I thought they might make it earlier as Biden his Time might not make it that long.

  • Did I mention the Australian barley balance sheet carry out stocks will be the tightest since the 2016/2017 marketing year.

  • Hope China doesn’t buy too much more, or we will run out of beer.

  • China is also in the market looking for more wheat. 

  • Aussie wheat is priced a lot better than US Soft Red Winter wheat and French wheat must take the long way around, avoiding the Red Sea due to the Middle East conflict.

  • Shipments via the Suez canal have fallen by 40% in the first half of January, which again makes Aussie wheat attractive; quality and now supply security.

  • The forecast for rainfall in Australia for the next 6 months is close to the average, or median and the early wheat crop forecast is for around 28 million tonnes.

  • Early days, so hope we haven’t put the moz on this year’s crop.

To read more, subscribe to Outlook Commodities Morning Commentary

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