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Grain Report Tuesday - 03rd October

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 market finally realised they had oversold wheat and decided to turn around and buy it again.

  • This dragged corn along for the ride.

  • Beans were up slightly, but that commodity is struggling to find bullish fundamentals with a big Brazilian crop looming.

  • However, it is less than 6% planted, so a bit too early to go the early crow. It is a bit like saying the Eagles will win 4 games next season.

  • Brazil exported 6.4 million tonnes of beans in September compared to 2.4 million tonnes in the same month last year.

  • Yep, the Brazilians are pumping it out the door and there were rumours last week China washed out 10 cargoes of US beans, which would be replaced with cheaper Brazilian beans.

  • Good news in Victoria, with the new Premier putting forward a policy to close Poker Machine centres, excluding Crown, from 4 am to 10 am.

To read more, subscribe to Outlook Commodities Morning Commentary

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