Grain Report Thursday- 30th October
- Clear Grain Exchange
- Oct 30
- 2 min read
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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.
CBOT soybean futures hovered near a 15-month high after sources said China made its first purchases from the autumn US harvest before a meeting of leaders Donald Trump and Xi Jinping. COFCO's deal for December-January shipment of about 180,000 metric tons of US soybeans was China's first such buy in months. China may need between 5-10mt of soybeans to fill a supply gap before it begins to receive new-crop Brazilian beans next year
Barley harvest across the north was all but done ahead of the rain and with growers choosing to store, some prompt end user demand has emerged. Not sure what these guys were waiting for, but they will need to offer a bit of a premium to cover. Forecast rain across most areas will delay harvest and keep local grain prices firm.
Not sure anything has changed, apart from some optimism that US/China relations won’t get any worse in the short-term. The fact that European values have not followed US markets higher is a sign that the global balance sheet remains heavy with new competition from southern hemisphere exporters about to ramp up. Looking for some Chinese wheat purchases or news of some new crop production issues across Russia to shift sentiment.
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