top of page

Grain Report Monday - 22nd May

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)

Comments by dominic

Look Out,

  • Big sell off on the Kansas wheat futures on Friday night, falling AUD $18 per tonne.

  • There is a saying, the best thing for high prices, is high prices.

  • This is what is happening with Hard Red Winter wheat, as the excessive premiums change the demand fundamentals of this grade.

  • The Yanks have just finished their winter wheat crop tour and reports for certain areas were not great, with abandonment to be around 33%, the highest abandonment level since 1917.

  • However, things are a lot worse in Western Australia, where abandonment of Eagles supporters is running at 42%, the highest rate since the Essendon drug scandal.

  • The Chicago (SRW) / Kansas (HRW) spread was around 290 cents per bushel in mid-May which is around AUD $160 per tonne.

  • To put this in perspective, this is like APW1 wheat priced at AUD $450 per tonne and ASW1 wheat at AUD $290 per tonne.

  • I just made those Aussie prices up to put the spread in perspective in relative Australian terms.

  • With such a large spread, European wheat has started to make its way into the US to displace Hard Red Winter wheat in mills.

  • Also, Millers are blending Soft Red Winter and Hard Red Spring wheat to make a pseudo Hard Red Winter blend.

  • On the export front, Hard Red Winter wheat is around USD $350 FOB Pacific North West, which is USD $55 over APW1 FOB WA. If I was a Miller in Asia, I know which wheat I would buy.

  • Some changes to the 23/24 Russian wheat crop forecast.

  • It’s all very interesting and will be one of the major price drivers in 23/24.

  • Up or down Dom? I hear you ask. Give me $12 bucks and I will tell you.

  • I now feel like a man in an overcoat down a dark alley selling stolen watches. When I say “I feel like a man down a dark alley” I mean I am the man, and not that I feel like a man down a dark alley.

  • I can tell you though, I am struggling to get bullish Oilseeds, as world production is forecast to increase by 30 million tonnes and world stocks up by 14 million tonnes.

CGX subscriptions

By subscribing to the Outlook Commodities Content you agree to CGX Subscriptions terms and conditions

Most importantly we're always here to help!

Please give us a call or email if you have any questions.

Call 1800 000 410 or Email


Do you want to know more?
Subscribe to our newsletter.

Thanks for submitting!

bottom of page