top of page

Grain Report Thursday - 28th December

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!

  • Wheat and corn were both softer last night.

  • Beans were up slightly, and canola was up solidly, winner winner chicken dinner.

  • As mentioned yesterday, palm oil has been firming, which is supportive to oilseeds, however before we all get too excited, canola seed values have a stronger correlation with soybean values than vegetable oil prices. So, we need that Brazilian bean crop to fall over before we get AUD $1000 for canola seed again.

  • The crop forecast Guru, Dr. Michael Cordonnier has this crop at 153 million tonnes, which is 8 million tonnes lower than USDA. He also says they need some more rain to achieve that number and most weather forecast models have been off the mark this season.  

  • Unfortunately, though, the soybean balance sheet is looser this year with world ending stocks 8 to 10 million tonnes higher and stocks to use up 1%. Increasing world stocks tends to be bearish for prices. But then again, as they say in the Man from Snowy River, “You’d sooner hold back the tide than be able to forecast oilseed prices, Jim”.

To read more, subscribe to Outlook Commodities Morning Commentary

CGX subscriptions

By subscribing to the Outlook Commodities Content you agree to CGX Subscriptions terms and conditions


CGX now own and operate the igrain market for grain stored on-farm

igrain logo

If you have any queries, we're always here to help!

Please give us a call or email if you have any questions.

Call 1800 000 410 or Email

10 views0 comments

Recent Posts

See All


Do you want to know more?
Subscribe to our newsletter.

Thanks for submitting!

bottom of page