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Grain Report Thursday - 8th February

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!

  • Once again, markets were quiet and boring last night, apart from beans which was sold off a bit before tonight’s Yankie Supply and Demand guess.

  • The market seems comfortable with South American corn and bean production as they traded down to their lowest levels since December 2020.

  • Seems like yesterday, 2020, when we were all in lock down and the Tigers beat the Cats in the grand final at the GABBA.

  • In Dec 2020 ASX wheat was AUD $284 and Aussie wheat was quoted at USD $255 FOB (Free On Board) WA, AUD $310 FIS WA, and AUD $280 Track East Coast.

  • The currency was trading at 75 cents.

  • How times have changed since 2020, although our export FOB price if I used current bids in Victoria the FOB value is USD $276, or USD $25 higher than 4 years ago.

  • In 2020/21, we produced a 31 million tonne wheat crop, and the world produced a 775 million tonne wheat crop and stocks excluding China were at 133.80 million tonnes.

  • This year we are producing a 25 million tonne wheat crop, and the world is producing a 785 million tonnes crop with ending stocks excluding China at 126 million tonnes.

  • Russian wheat values were quoted at USD $255 FOB (Free On Board) in Dec 2020.

  • So, what does all that mean?

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