Grain Report Tuesday - 28th 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?
Look Out!
Markets continued to firm last night on the back of Russia potentially restricting wheat, sunflower and fertilizer exports.
Some in the market are still calling this “fake news”, but the market is reacting differently.
However, the Russian Ag Minister did ask exporters to slow down exports. That won’t happen without government intervention.
If Putin has plans to up the invasion stakes, which could see Russia cut off from the world, it's probably a good idea to have some food security.
Or maybe he is just flexing a muscle to try and show the world how important they are to world food supply.
Matif canola has firmed EU $41 per tonne (AUD $66) over the last 3 trading sessions.
The Brazilian soybean harvest is 70% complete, which is 5% slower than last year.
The market will be positioning itself for the USDA planting and quarterly stocks report at the end of the week.
More reports of crop losses in India due to heavy rains a week ago.
Apart from the Russian export question mark, there was not much happening in the world last night apart from Walt Disney will be laying off 7,000 staff after a poor performance last year. I reckon they will be sacking Goofy and Elmer Fudd, who know one can understand. Also, Yosemite Sam should go, but no one is game enough to tell him.
Our markets should be firmer on the back of the world markets firming and potentially a little bit of international buyer nervousness.
We are approaching the Northern Hemisphere harvest, so buyers would normally be holding off with an inverted (lower) July – August market.
But with a little bit of uncertainty in the Black Sea, maybe some buyers might decide to secure supply.
Might be a good idea to list your grain on CGX to ride the demand spike opportunity.
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 support@cgx.com.au
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