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Grain Report Tuesday - 25th July

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….and I really mean Look Out!

  • Has anyone seen my hat?

  • I had it on before the US futures markets opened, and then it was completely blown off.

  • Chicago was limit up; 60 cents a bushel (AUD $33 per tonne) and 56 cents a bushel ( AUD $31 per tonne).

  • Corn was up 33 cents a bushel (AUD $20 per tonne) and beans were only up 22 cents a bushel (AUD $12).

  • The Soft Red and Hard Red winter wheat trading limits have now been extended to 90 cents a bushel for tonight’s trade, so no point in putting another hat on as it will just blow off again.

  • The market is reacting to the Black Sea tensions and attacks on Ukrainian export ports on the Danube River.

  • Hokey Pokey has taken the position, “No one is listening to my demands, so I will now turn the dial all the way up to 11 and control the grain flow and exports in the region”, which is an extremely powerful position that could cause significant supply and hunger problems in certain countries.

  • As mentioned last week, this disruption puts uncertainty in the “security” of supply for consumers, which is significantly more important than price.

  • We have seen this type of market frenzy in 2021, when supply security drove the toilet paper market. Price became completely irrelevant. Tell the younger generation today and they won’t believe you when you tell them toilet paper became the most important item on the shopping list and a black market was established, where we had to buy 2 ply in dark alleys.

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