Grain Report Thursday - 29th May
- Clear Grain Exchange
- May 29
- 1 min read
What price do you want for your grain?
Australia’s independent grain report—designed to help support your pricing decisions before the market opens at 10:00am AEST. If you need to change your offer price, simply edit it before market open.
Wheat moved a little higher last night. I might have put you on a bum steer yesterday quoting analysts expectations on the US crop. In fact, conditions came in lower than estimates at 50% gd/ex for winter wheat crop (down from 53%) and 45% gd/ex vs expectations of 71% for spring wheat. Nothing to get too excited about but gives analysts a way to explain away market movements.
Rains are forecast this week for all critical wheat areas northern Europe, Black Sea, China, US Plains and midwest, Western Australia, Nth NSW and Sth QLD with lesser amounts for Sth NSW, SA/VIC. The global wheat crop is not going backwards.
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