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Grain Report Thursday - 16th February

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)

Look Out!

  • Markets off a fair whack last night.

  • Again, there was no change to the world Supply and Demand, and Russia and Ukraine tensions have not eased.

  • The Indian government has come out, beating their chest and calling their crop a record 112.2 million tonnes.

  • On the 16th of February last year, the Indian government came out with a forecasted record wheat crop of 111.32 million tonnes.

  • A month later, they were also banging on that they would export a record amount of wheat due to their record crop.

  • Towards the end of April, after a very hot March, crop forecasts started to drop down to 105 million tonnes, however the market was still talking about the record exports out of India.

  • Two weeks later, on May 11th, the market analysts all ran to the other side of the boat and started crying that the Indian crop could be under 100 million tonnes and curry was about to hit the fan.

  • On May 14th, the Indian government was considering restricting exports due to a lower crop.

  • And that’s about the time wheat prices exploded, rallying up $50 per tonne in a couple of days.

  • Moral of the story; don’t go the early crow unless you are Bill Shorten.

  • In other news, WA has exported 4.6 million tonnes of wheat so far in this marketing year (Oct – Feb)., which is 1.4 million tonnes more than the same time last year. You go girl!.

  • At this rate, WA will export 11 million tonnes over the 12 months, which is well up on forecasts.

  • Total wheat exports for the whole country over the first 5 months are just over 10 million tonnes. So WA makes up 45% of total Australian wheat exports.

  • The other states are exporting at around the same pace as last year, which is a concern for SA, who need to get their skates on and lift their game.

  • I don’t think things have been the same in SA since the 2017 Grand Final.

  • Chins up SA. The market wants your wheat, and they can’t buy it if they can’t see it.

  • Chuck it on the CGX exchange and set your price.

  • And if temperatures start to warm up in India, move your price up a bit, just in case history repeats itself.

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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