Grain Report Monday - 23rd June
- Clear Grain Exchange
- Jun 23
- 1 min read
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Australia’s independent grain report—designed to help support your pricing decisions before the market opens at 10:00am AEST. If you need to change your offer price, simply edit it before market open.
The local grain market gained around $6-8/t after the rally midweek and mostly held onto their gains. I don’t expect that the local grain trade to have been too active the past few days and will be looking to the international market reaction tonight (markets have been closed since US attacked Iran) to the escalation of the Middle East conflict over the weekend.
Governments throughout the Middle East region have been assuring markets that they have plenty of wheat with Iraq announcing it has at least 6 months of wheat in reserve. A prolonged conflict could make it difficult for grain movements through the region. The market has been remarkably calm so far. Oilseed values have received a boost from a lift in oil values due to the conflict, but let’s see what plays out tonight when markets open for the first trading session after US actions over the weekend.
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