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Grain Report Tuesday - 26th September

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!

  • All green dials on the US futures markets last night, with wheat, corn, beans all up.

  • Unfortunately, Winnipeg canola was off AUD $11.45.

  • Winnipeg Canola has fallen from CAD $840 to CAD $711 since mid-July, a drop of CAD $129. US Corn crop conditions were rated at 53% Good to Excellent, an increase of 2% from last week.

  • However, not much more to see here as the Yanks are 15% into their harvest.

  • Soybeans dropped 2% to 50 good to excellent and they are 12% into their harvest.

  • The Yanks Spring wheat is pretty much done and in the bin.

  • Russia keeps attacking ports and grain storage facilities in Odessa, but the market doesn’t really seem to care.

  • The Grains Industry Association of Western Australia (GIWA – they left out an “A”) released their crop forecast at the end of last week.

  • Production estimates are for 8.5 million tonnes of wheat, 3.945 million tonnes of barley and 2.26 million tonnes of Canola. The wheat forecast is the same as A-Bear in There’s guess.

  • Although ABARE has barley slightly higher at 4.2 million tonnes and Canola at 2.5 million tonnes.

  • This is interesting as A-Bear in there put their guess out in the start of September, before the mid-September timely rain that stopped the decline in yields.

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