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Grain Report Tuesday - 08th 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!

  • Wheat markets were stronger last night as tensions in the Black Sea continue to rise.

  • However, the wheat futures market these days seems to be running on their own, going up and down regardless of world fundamentals.

  • It will probably be sold off tonight and we will all report “profit” taking as the reason.

  • Corn and Beans were off as their crop conditions continued to improve and forward rain forecasts now look better.

  • Market is now guessing corn yield at 174 to 176 bushels per acre, which would see a crop production of between 370-380 million metric tonnes.

  • The USDA last guess was 387 million tonnes, so maybe they were right.

  • With the Brazilian Safrinha corn crop getting bigger as their harvest progresses, corn is getting a bearish feel to it again.

  • Australian wheat exports at the end of June were 25.45 million tonnes.

  • With 3 months to go before the end of the marketing year, we don’t need to break records to export over 30 million tonnes.

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