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Grain Report Thursday - 7th 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!

  • The Kansas wheat futures were up strongly last night on the back of the A-Bear crop forecast being lower.

  • Chicago wheat followed Kansas and beans were also up after the lower crop conditions.

  • Corn failed to pop and remained unchanged, even though crop conditions also fell 5%. But the Brazilian corn crop is bigger than originally forecasted at around 132 million tonnes.

  • There are reports this week over flooding and rain concerns that could impact the Chinese corn crop. However, Refinitiv has forecast it to be up slightly at 278.90 million tonnes. That old saying, “rain makes grain” might be applied here.

  • Good news with the Canadian Canola crop getting smaller, now forecast to be around 18 million tonnes. Their wheat crop is also smaller and now forecast to be closer to 30 million tonnes.

  • Add in the US Soybean crop under some stress, and oilseeds are supported.

  • Concerns of harvest disruption and autumn planting in Russia due to diesel shortages.

  • At the same time, Russia is forecast to export a record 48.6 million tonnes of wheat this marketing year.

  • The BOMB has reported we have just experienced the warmest August on record.

  • We have also just had the 10th driest August since 1900.

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