Grain Report Tuesday - 3rd September
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.
Look Out!
US markets closed last night as the Yanks took a long weekend.
The Aussie dollar is slightly firmer, trading close to 68 cents.
ASX Jan wheat is back around the AUD $320 level, up AUD $14 from the same time last week.
Not sure if this strength has translated into the domestic markets.
Some dryness concerns in the Black sea as winter wheat planting starts. Very early days so nothing to see yet.
A Bear In There released their crop forecast yesterday.
They have lifted all crops, calling the wheat crop 31.83 million tonnes, barley 12.16 million tonnes and canola 5.472 million tonnes.
For wheat they have NSW at 11 million tonnes, WA at 10.4 million tonnes, SA at 4.3, Vic at 3.97 and QLD at 2.4.
The WA wheat crop is almost 3 million tonnes more than last year and NSW is up 4 million tonnes.
Just those 2 states are producing 7 million tonnes more wheat this year.
The Victorian wheat crop is forecast to be 1.2 million tonnes smaller this year.
On the barley front they have WA at 4.5 million tonnes, up 800 kmt on last year, NSW at 2.8 up 900kmt from last year, SA at 1.9 the same as last year and Vic at 2.4 million tonnes, which is 300kmt smaller than last year.
They might have gone the early crow a bit on the total barley production and the Vic crops, as conditions have not improved, and recent weather has not been great with warmer temperatures and strong winds taking a bit more moisture out of the soil.
For further market commentary please contact the CGX team on 1800 000 410
CGX now own and operate the igrain market for grain stored on-farm
If you have any queries, 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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