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Grain Report Thursday - 10th 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!


  • Wheat and corn off last night, whilst soybeans held their head just above water.

  • Well, I can pump my chest out, because I was correct about the basis, which is now AUD $44 for new crop. I hope you all put the farm on it and made millions. Easy money.

  • The USDA will release their world supply and demand stab in the dark, throw a dart, crystal ball report tomorrow.

  • They will probably leave corn production unchanged and possibly put beans up.

  • They also reckon horse 7 in race 5 is a good thing.


  • I betcha’ they don’t change the Get It India S&D and add a few million tonnes of imports onto their balance sheet.

  • Reportedly, Indian has just released 5 million tonnes of wheat stocks into the market, to put a small dose of water on domestic wheat price fire.

  • Get It India government stocks are tight, and you don’t make this move on the checkerboard, unless you have a plan to replace them, which can only be done by removing the import tariff.


  • Also, by releasing stocks to quell prices, it prepares the market and the “voting farmers” for a price drop when cheaper imports hit the market.

  • It should be noted, India has an election coming up early next year, and unlike our agriculture industry, Indian farmers carry some weight when they turn up at the polls.

  • So, the current government must be strategic to appease the masses, who are paying through the nose for wheat-based products, whilst also appeasing the farmers who, like all farmers want higher returns.



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