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Grain Report Thursday - 31st August

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!

  • After four consecutive days, the bleeding has finally stopped and Chicago and Kansas wheat were up slightly,

  • Corn and Beans were off because it was a Wednesday.

  • Hokey Pokey has said it will have a chat with Turkey about an alternative solution to reopening the grain corridor, whatever that means.

  • At the same time, the Ruskies are proposing to sell wheat to Turkey, who will then mill it and supply it to Africa at a discounted price, all financed by Qatar.

  • The Ruskies are also adhering to Hokey Pokey’s minimum floor price for wheat, with the lowest offers on the Egyptian tender at USD $270 FOB (Free on board).

  • Consequently, the Egyptians bought 240,000 tonnes of French and Romanian wheat at USD $259 and USD $261 FOB.

  • Remember the other day when Bali was shaken up.

  • Some thought it was an earthquake, but I think it has more to do with China buying 600,000 tonnes of old crop Aussie Barley.

  • That’s more than enough to shake the Bali market.

  • It is reported the Feed Barley was purchased for USD $280 C&F (Cost and freight) or FIS (Free in site) WA AUD $370, Track AUD $350 Geelong.

  • That makes prices back into the Darling Downs interesting as it now needs to be around AUD$480 to keep the boats coming around.

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