Grain Report Thursday - 12th September
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.
Look Out!
Markets quiet last night as everyone waits for the USDA supply and demand guess.
I suspect they will look at the recent A Bear In Their crop guess for the Australia crops and increase our numbers.
Unfortunately, like Essendon, the Australian wheat crop may have peaked in July and conditions have fallen away since then.
I have finally worked out why it has been dry in parts of the United States; people have been eating cats and dogs.
Maybe we should stop eating them here in Victoria and SA as well.
A few things are happening in the world with concerns over Russia with another area in Siberia deemed a state of emergency due to crop losses caused by excessive rains. This is affecting spring wheat production. It’s also dry in the southern region which is not great for winter wheat planting. This is adding some nervousness about their 2024/25 crop. The Argie crop is going backwards with a forecaster coming out with an estimate of 17.5 million tonnes. The Yanks have them in for 18 million tonnes. They have also slashed Kazakhstan’s wheat crop to 14.2 million tonnes due to being too wet. The Yanks have this crop in at 16 million tonnes. So, a few million tonnes suddenly drop off the major exporters. Lucky world demand is dead because we are all eating our pets.
There is also corn tonnes being cut from Ukraine and the EU, however the Chinese corn crop is a record which reduces total world imports. They are forecast to import 23 million tonnes, or maybe not. This is the main game changer in the corn balance sheet.
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