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Grain Report Thursday - 05th January

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)

  • .The woeful start to overseas commodity (and energy) markets for 2023 continues.

  • Maybe they partied a little too hard on New Year's Eve and are still a bit hungover.

  • Chicago and Kansas wheat futures are both off AUD $25 per tonne since last year.

  • Corn is off AUD $14 per tonne and Soybeans are off AUD $22 per tonne.

  • Why?

  • There is a sprinkle of rain forecast to hit South America next week.

  • Rebalancing of funds positions cutting longs in beans and corn.

  • Covid in China and concerns of a global recession.

  • The previous Pope passing away, Prince Harry releasing a new book and there are too many potholes in the roads.

  • All valid reasons for a market sell off.

  • Oh, and the AUD has firmed 1 cent on the back of China considering removing their ban on Aussie coal. Hang onto your hats if they make the same call on Aussie barley.

  • But wait!

  • The BOM has come out and said that 40% of past La Nina events have switched to El Nino events in the same year that La Nina has ended, so now we are having a drought this year.

  • Also, globally, there are a few weather events that are also bullish.

  • Europe is experiencing warmer temperatures, with 8 countries recording their warmest January day ever.

  • Some climatologists are calling it “an extreme event” unlike anything in European history.

  • Where temperatures should be around zero degrees, countries are recording 19 degrees.

  • On the back of the warmer weather, European gas prices fell more than 10% yesterday.

  • On the flipside of this, SovEcon has reported Russia is about to experience -20 to –25 degree temperatures, with no snow cover on a large portion of the winter wheat crop.

  • The US had extreme cold weather over Christmas and now a bomb cyclone is about to hit California, dropping heavy rain and snow on regions that saw near record amounts of rain last week.

  • With tight balance sheets and wheat stocks held by the major exports at low levels, any production issues in the northern hemisphere will drive markets higher.

  • How dare you, Gretta Thunberg!

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

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