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Grain Report Tuesday- 2nd January

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!

  • Markets all finished in the red on the final trading day of the year.

  • I did receive some excellent feedback as to what commentary puts a smile on one’s dial.

  • One grower requested I include as many updates as possible on the success development of the West Coast Eagles football club in my commentary.

  • However, my mother always told me; if you can’t say anything nice, don’t say anything at all.

  • Now back to the year in review.

  • The Chicago wheat market has fallen AUD$88 per tonne over the year.

  • But the ASX Jan contract only fell AUD$23 over the same period, which for the Basis boys means, Aussie Basis firmed AUD$65 per tonne, which reflects our smaller crop this year.

  • The wheat barley spread was AUD$60 per tonne on the 1st of Jan 2023. Today it’s AUD$20 per tonne, thanks mainly to the Chinese Xi Cricket Team resuming purchases of Australian barley.

  • At the start of 2023 Aussie Wheat was quoted around USD$350 FOB, or AUD$480 FIS or AUD$460 Track East Coast.

  • However, as we all remember, AUD$460 per tonne was not going into the farmers pockets, and grower were getting AUD$420 for APW wheat, which was AUD$60 under export parity.  

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