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Grain Report Monday - 6th November

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!

  • Markets were all up on Friday night, with soybeans winning the race by a long neck.

  • The Aussie dollar is back over 65 cents on the back of a weaker USD.

  • A lot of focus on Brazilian weather, which looks dry for the main soybean region, Mato Grosso and wet for the southern region.

  • The forecast through November and into December is not looking that great with models predicting it to remain drier in the central region, but wetter in the southern region.

  • The view is the potential production loss in the main region will be offset by the high yields in the southern regions.

  • The USDA has the Brazilian soybean production for 23/24 forecast at 163 million tonnes, whilst others have it sub 160 million tonnes.

  • This year they produced 156 million tonnes. If it stays dry, it might be a smaller crop next year which will be good for oil seed prices.

To read more, subscribe to Outlook Commodities Morning Commentary

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