top of page

Grain Report Tuesday - 27th June

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!

  • Market all over the shop last night.

  • Kansas up, Chicago down, Corn up in the nearby and off in the new crop. Beans up.

  • The US crop conditions were released after the market closed and Corn ratings dropped another 5% to 50% Good to excellent. This time last year, the crop was rated at 67% Good to excellent.

  • However, Illinois, Minnesota, and Indiana who account for around 35% US corn crop dropped between 9-10%.

  • Illinois, which is around 17% of US total corn production, is currently rated 26% Good to Excellent, which is 41% below their 5-year average of around 67%. That’s worrying.

  • Iowa, the largest producing corn state, only dropped 3% to 56% Good to Excellent.

  • The 6-10 rainfall outlook has “near normal” rainfall for these states and above average temperatures.

  • The soybean conditions also dropped 3% to 51% Good to excellent and 14% below the same time last year.

  • Spring wheat is off another 1% at 50% Good to excellent and 9% behind conditions last year.

  • In Summary, the corn yield of 181.5 bushels per acre as per the USDA June supply and demand guess should be reduced in their July forecast.

  • A drop to 170 bushels / acre knocks around 25 million tonnes off their original bin busting forecast of 388 million tonnes.

  • If you want to know what this means to our prices you should subscribe.

  • We all seemed to be hedged on this huge Russian crop and their large carryover stocks which will keep world prices subdued.

  • But as we saw on the weekend, there appears to be some internal tensions in Russia, and they will most likely not extend the Ukrainian export corridor which expires in July.

  • Hanging our hats on Russian values and stability in the marketplace is like putting your farm on the Eagles winning a game before the end of the season.

CGX subscriptions

By subscribing to the Outlook Commodities Content you agree to CGX Subscriptions terms and conditions

Round 15 - CGX Footy Tipping Leaderboard

Most importantly we're always here to help!

Please give us a call or email if you have any questions.

Call 1800 000 410 or Email

11 views0 comments


Do you want to know more?
Subscribe to our newsletter.

Thanks for submitting!

bottom of page