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Grain Report Monday - 5th February

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!

  • Like a bag of lollies, markets were mixed on Friday night.

  • Chicago wheat off slightly, Kansas up slightly, corn off a bit and beans got smacked.

  • Tensions are starting to build in the Middle East as the Yanks and Poms have started to hit a few Quds Force targets in Iraq, Syria and Yemen.

  • The Quds force is an Iranian operation that provides support to other non-state based militant groups in the Middle East such as Hezbollah, Hamas, Jihads Shia militias and Yemini Houthis.

  • The Yanks release their world supply and demand, stab in the dark, pick a number from a hat, spin the dice guess this Thursday (Friday Aussie time).

  • Most have the Brazilian bean crop at 150 million and the USDA has it at 157 million tonnes. 

  • For corn, the gurus are all calling it 115 million tonnes and the Yanks are calling it 127 million tonnes.

  • My guess, they will shave some off the Brazilian corn and bean crops, but lower Chinese imports to balance the books and not cause any disruption to the markets in an election year.

  • Hot dry conditions for Argentina might also have an impact on bean and corn yields.

  • WA feed barley is trading at AUD $350 FIS (Free in Store) Kwinana, or around USD $250 FOB (Free on Board).

  • Vic feed barley is trading bid AUD $327 Track Geelong.

  • So, WA feed barley is USD $250 FOB and Vic Feed barley is USD $245 FOB, which is spot on the money.

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