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Grain Report Thursday - 15th June

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!

  • Red dials last night as the world decided all is good, and supply is sufficient to stop us and our animals starving to death.

  • Or maybe the world is just scrolling on its phone, looking at Tik Tok and SnapChat, and not paying attention to what is really happening out there.

  • The market is focussing on rain events moving through the US corn growing areas. Concern is it will miss some of the larger producing states and the 2-week forecast is for below average rainfall in some key areas.

  • Did anyone get on that BASIS advice I gave on the 30th of March? Let me repeat it, as I will only highlight things when I am right *although I don’t think we will grow a 28 million tonne crop.

If we apply what the world thinks today, with greater US planted wheat acres and a 28 million tonnes Aussie wheat crop due to El Nino, who has a dry sense of humour, then park up your tractors and buy basis and make heaps of money; you don’t even need to farm. It’s like Mick’s multi, an absolute sure thing.

  • New crop BASIS was -AUD $8 on the 30th March when I made that call, and is now trading at AUD $39, so up AUD $47; easy money.

  • That’s all I can tell the non-subscribers today, as the rest of my report dissects Basis values for new crop and Russian values and where our new crop prices will be.

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