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Grain Report Tuesday - 31st October

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!

  • Well just when I was starting to get bullish oilseeds, Matif and Winnipeg come off strongly.

  • There are so many moving parts to the oilseed markets, you need a bit of oil on them, so they don’t jam up.

  • Last night beans, soybean meal and soybean oil were all off, with some rainfall over south America and softer crude oil.

  • The long-range forecast for central Brazil, the major production region for beans, is on the drier side.

  • But a forecast is a forecast, and you’d sooner hold back the tide than train a mountain man.

  • Whilst on the subject of forecasts, the GIAV forecast the Victorian wheat yields up 1% to 3.95 tonnes per hectare, resulting in a crop of 5.95 million tonnes, which is larger than last year.

  • The barley forecast for yields is 18% lower at 4.25 tonnes per hectare producing a 3.35 million tonne crop.

To read more, subscribe to Outlook Commodities Morning Commentary

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