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Grain Report Monday - 27th February



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.


What price do you want for your grain?

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)

Look Out!

  • Wheat markets got smashed on Friday night on the back of a strengthening USD and trade optimism over the Black Sea export corridor renewal going ahead.

  • The USD strengthening reflects in a weaker AUD which was almost off 1 cent.

  • The Chicago May wheat futures contract is down to its lowest level since September 2021.

  • Kansas wheat has come off around 71 cents (AUD $38) last week.

  • However, US Hard Red winter wheat is still priced around USD $380 per tonne FOB (Free On Board) ex the Pacific North West (PNW) and USD $370 FOB ex US Gulf.

  • Be nice if Australian wheat was priced at the same levels.

  • Oh, hang on, Australia did sell some 11% APW/H2 wheat to Iraq last week at USD $428.33 per tonne C&F (Cost & Freight) Umm Qasr.

  • This works back to USD $405 FOB WA (AUD $570 FIS (Free in Store) WA), and USD $400 East Coast (AUD $550 Track East Coast).

  • Alhamdulillah, Praise to be Allah.

  • The last sale to Iraq was done 1 month earlier in January at USD $445 C&F, which worked back to AUD $556 FIS WA and AUD $533 Track East Coast.

  • So, whilst the sale last week was USD $17 per tonne lower on a C&F basis, with lower freight and a lower AUD, the returns in Australia are higher by AUD $14 per tonne.

  • In late January, the FOB values were quoted as follows:

  • WA: USD $354 FOB, US PNW: USD $391 FOB, Russia: USD $309 FOB.

  • Last week these markets were quoted as:

  • WA: USD $333 FOB, US PNW: USD $380 FOB, Russia: USD $302 FOB.

  • Australian values have come off almost USD $20 over one month, US has fallen USD $11 and Russian, the bottom has come off USD $7 per tonne.

  • Riddle me that one Batman.


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

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