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Grain Report Thursday - 29th June


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!

  • And just like the Taylor Swift ticket buying frenzy, the platform has closed, and the wheat and corn bulls all missed out.

  • It's Rain, Hi, That’s the Problem it's Rain.

  • Yes, that’s correct Swifty, it’s rain that has sucked the wind out of the bullish markets.

  • But to put things into perspective, Chicago December wheat was trading at 626 cents a bushel and corn was trading at 525 cents a bushel at the start of June.

  • It remained dry through the month of June, and wheat rallied 140 cents a bushel (AUD $75) and corn 100 cents a bushel (AUD $60).

  • Wheat is still trading 60 cents a bushel higher over the month and corn is 12 cents a bushel higher.

  • This market will remain volatile and if the current forecast doesn’t deliver, we will see the market strengthen again.

  • Conversely, if the forecast delivers greater rain than expected, it will probably soften off further.

  • ASX Jan 2024 wheat settled $8 lower yesterday at $396.

  • We may see it softer again today on the back of last night's market sell off.

To read more, subscribe to the Outlook Commodities commentary below:


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