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Grain Report Tuesday - 21st March

Our goal is to help growers and their agents determine the selling price for their grain by providing relevant price discovery each day. Check out the moves in overnight international markets and yesterday's actual traded prices across Australia. There's also market commentary giving context and comparisons to prices of international physical markets. If you need to change your offer price, simply edit it before market open.

What price do you want for your grain?

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)

Look Out!

  • Wheat off last night, corn basically unchanged and beans softer in the nearby and supported in the back end.

  • The Australian Cricket team has arrived in Russia to meet with Hokey Pokey.

  • It’s like the Bachelor, where Hokey Pokey received a rose. Whilst on Love Island, the USA, Poms and Aussies seem to be forming a triangle and Turkey has just bought some Pineapple earrings.

  • Matif canola continues to get smacked, falling EU $14 last night to EU $453.75 for May.

  • Matif canola has fallen EU $144 since the start of the year, and after we adjust for currency, in Aussie dollar terms the drop off is around AUD $200.

  • The track price fall on the East Coast has been around AUD $90 per tonne since the start of the year.

  • I know very little about the canola seed markets, however the largest oilseed in the world, soybeans, has moved 1 cent per bushel over the same period.

  • At the start of the year, soybeans were trading at 1487 cents / bushel and last night they settled at 1486 cents a bushel.

  • Yes, we have a loose canola seed balance sheet, but in January, before the South American drought, we also had a very loose soybean balance sheet; by loose I mean increased production and carryout stocks.

  • This balance sheet has tightened which should be supportive to all oilseed prices.

  • Canola is said to be an “oil” follower, as we put a fair bit into biodiesel and oil has “tanked” this year… will notice that when you fill your car up at the bowser one day, apart from long weekends and school holidays. But we also put soybean oil in cars, so shouldn’t the same logic be applied to soybeans?

  • I am sitting here, scratching my head.

  • Today, I will do some homework and speak with the oilseed gurus as to why canola is so unloved. .

Most importantly we're always here to help!

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