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Grain Report Thursday - 25th May

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)

Look Out!

  • Tie me Kangaroo down sport. tie me Kangaroo down.

  • Do you want me to dig a hole in the back paddock governor?

  • Sure Can.

  • Now back to the commentary.

  • Wheat was buried in a hole with Rolf last night, in particular Kansas got a real smacking.

  • But corn was firmer, and that Chicago wheat / corn spread is 19 cents a bushel, meaning Corn is tight, and Soft red wheat is abundant in the US.

  • In the December position, this spread is 117 cents a bushel, which is in the ballpark of the usual spread between corn and wheat.

  • Reports China has a fair bit of feed wheat and hence they cancelled (washed out) US corn contacts. The Chinese are also the largest wheat importers this year. All sounds a bit strange if you ask me; increasing wheat imports, booking a heap of US corn in March and April, then cancelling corn contracts because they have too much wheat. Pull the other one, it has bells on it.

  • Corn has been up in the last 3 days, so maybe China is looking to buy corn again.

  • Our markets firmed yesterday and there seems to be a slight feeling of nervousness creeping in.

  • It’s starting to become hard to find competitive new crop sellers on the East Coast.

  • Why is that I hear you ask?

  • If you were a subscriber, you would know exactly why.

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