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Grain Report Thursday - 28th September

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 was off last night, corn, and Canola up.

  • With crude oil prices rallying, this is supportive for oilseeds and corn as it supports the inclusion of ethanol and biofuels.

  • However, higher input and supply chain costs are not great for inflation and curbs demand.

  • In June crude oil was USD $69 per barrel and today it is USD $94 per barrel.

  • We need to hop in our DeLorean and go back to October 2020 when it was USD $41 per barrel.

  • The Egyptians bought 3 cargoes of wheat off Romania and Bulgaria at USD $255 FOB.

  • The Ruskie traders all obeyed Hokey Pokey’s instructions to not offer below his floor price of USD $270 per tonne FOB.

  • French wheat was offered at USD $258 FOB.

  • So not too much happening over there apart from the Egyptians appearing to like to buy the groceries daily, rather than doing one big shop for the week.

  • Rumours keep popping up they are having secret negotiations with Russia and now Stan to buy wheat in a private deal.

  • Surprised Dan didn’t trip over his debt and fall down the steps as he left Parliament House.

  • Positive outlook for rain next week through Victoria and southern NSW.

  • Seeing new crop Barley prices soften AUD $5 this week in the South to AUD $365 Track VIC.

  • Port Kembla Feed Barley is bid AUD $395 track or AUD $30 over Victoria.

  • SA Feed barley is AUD $15 under Victoria at AUD $350 levels.

  • The Darling Downs remains firm with offers around AUD $480 per tonne delivered.

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