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Grain Report Monday- 23rd October

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!

  • Red dials on Friday night as all commodities softened.

  • Rains are forecast for South America this week, which might take out a bit of nervousness in the corn and bean markets.

  • Good news as China has started “Whining” again, too bad they can’t afford it anymore as disposable income dries up like the Brazilian and Mississippi rivers.

  • The Chinese are eating Pork, with their pig output in their 3rd quarter hitting their highest level since 2014. China consumes half the world's pork. You can use that fact for a trivia night.

  • More pigs need more feed.

  • The WA Grains Industry released their crop forecast on Friday.

  • They dropped the wheat production by 375,000 tonnes to an optimistic 8.125 million tonnes.

  • Barley also dropped 100,000 tonnes to 3.84 million tonnes and canola was basically unchanged to 2.22 million tonnes.

  • The total winter crop this year is 11 million tonnes lower this year at approximately 15 million tonnes.

  • My Plumber next door thinks the GIWA is still being a little bit too optimistic, especially with Canola and wheat.

  • I guess we will all know in another month or two.

To read more, subscribe to Outlook Commodities Morning Commentary

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