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Grain Report Thursday - 03rd August

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!

  • Good news, bad news day.

  • Give me the bad news first Doc.

  • Doctor, “sorry Dom markets were off again last night, and we cut off your wrong leg”.

  • What’s the good news Doc, before I pack up the family and sell the farm.

  • Doctor, “The Egyptians paid USD $250 FOB for Russian wheat and your other leg is getting better”.

  • That’s USD $10 FOB firmer than what we all thought; or what we, who sit behind keyboards pretending to know everything, thought.

  • You know how I always bang on about one major price driver; stocks held in the warehouses of the major exporters; which is the lowest in 16 years.

  • Well Kazakhstan, who makes up one of the 8 major exporters, which is like Ireland being part of the International Cricket Council, knocked a couple of million tonnes off their current crop.

  • Now before we go on, Kazakhstan is an annoying name to type; so, we will now call them Stan. No need to subscribe, that joke was for free.

  • Anyway, Stan was forecast to grow 16.4 million tonnes this year, but the Stan Grain Union now advise that is more like 14.5 million tonnes.

  • Stan, like the Ozzies, Argies and Chinooks don’t hold large carryout stocks, but this reduces exports from their country which another country must pick up reduces the overall stocks held by the majors.

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