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Grain Report Thursday - 23rd 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 all red dials last night, with Kansas wheat suffering the most, off AUD $15 per tonne.

  • Apparently abundant cheap Russian wheat is driving the market down, but we all know Russia has a big crop and will export 45 million tonnes this year.

  • The spread between Kansas wheat futures (Hard Red Winter (APW)) and Chicago wheat futures (Soft Red Winter (ASW)) is AUD $73 per tonne.

  • On a FOB (Free on Board) basis, Hard Red ex the US Gulf is quoted at USD $400 and Soft Red Winter at USD $330, or a spread of USD $70 (AUD $100).

  • This tells us the Hard Red Winter balance sheet is a lot tighter than the Soft Red Winter balance sheet in the USA, and the Hard Red Winter forecast remains dryish for the next 90 days.

  • The Gypo government is tendering for wheat, with the cheapest offers coming from Russia.

  • The offer prices are USD $5 lower than the last tender, however this is more to do with cheaper freight.

  • The wheat offered to the Egyptian government is the base grade ASW/Soft Red wheat quality to make “baladi” bread to feed the masses. It’s a bit like the dole, but instead of money, people get cheap bread to survive.

  • Based on these offers, Russian wheat is around USD $300 per tonne or AUD $400 FIS WA / $380 Track East Coast.

  • So that’s the bottom of the market on an export parity basis.

  • Jordan bought some feed barley at USD $295 C&F (Cost & Freight). This will come from Black Sea region.

  • This would work back to USD $275 FOB levels as a bottom for feed barley, and at export parity would be AUD $360 FIS (Free in Store) WA or AUD $330 Track VIC.

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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