Grain Report Monday - 23rd January

Our goal is to help growers and their agents determine the selling price for their grain by providing relevant price discovery each day. Check out the moves in overnight international markets and yesterday's actual traded prices across Australia. There's also market commentary giving context and comparisons to prices of international physical markets. If you need to change your offer price, simply edit it before market open.

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Look Out!

• Happy Lunar New Year.

• This year, it’s the year of the rabbit. At this stage, Putin is winning, but I am sure someone else will challenge him for the title.

• In 2017, 2019 and 2020, it was the year of the tiger.

• Markets were mixed on Friday night; wheat up and row crops, corn unchanged, beans off.

• Rain in South America eased some tensions, but some are still saying corn and bean crops are ordinary.

• Russian export prices went up USD $1 per tonne over the week, to USD $309 FOB (Free On Board), equalling AUD $420 FIS (Free In Store) WA and AUD $400 Track east coast.

• Australian APW FOB price is listed at USD $354 FOB, or AUD $460 FIS WA and AUD $450 TRACK East Coast.

• Kwinana APW is trading at AUD $450 FIS, so at parity. East Coast APW is trading at AUD $380-AUD $390 Track, which is well under export parity.

• The East Coast wheat balance sheet is a lot tighter than many estimate, so not sure why we are throwing the baby out with the bath water?

• There is not much happening in the world markets this time of year as wheat crops are dormant.

• Locally, headers are starting to be parked up and farmers head off to the beach for a well-deserved break.

• But whilst you are lying in the sun, you may as well list your grain on CGX, because there is no point in taking your grain on holidays with you.

• If the buyers can’t see it, they can’t buy it. You can list it above market; set a target price that would make you happy, and if it gets hit, buy another frothy and relax.

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 support@cgx.com.au