Grain Report Tuesday - 20th June
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.
Look Out!
US markets closed last night as they celebrated the Juneteenth public holiday, so the rest of the world wandered around aimlessly like a 4-year-old looking for his older brother to hold his hand.
With no other markets to look at for guidance, we all stare at Matif for a while; yawn and then go and watch Netflix.
But go and grab some popcorn, as it's going to be exciting today when the US night session opens.
Actually, go long popcorn as it might cost a fair bit more after the session opens. Remember, gamble responsibly.
The US corn crop in some of the major producing states looks to be in trouble and is screaming for rain.
Every man and his dog are looking at weather forecasts for the next 7 days and current weather models forecast it remains dry for the big producing states.
It seems the whole world is bearish wheat to some degree, with demand lacking and large supplies in EU and Russia.
But, if there is a corn production issue in the US, it doesn’t matter about wheat production, as corn jumps into the price driver’s seat.
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