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Grain Report Tuesday - 5th September

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 were quiet last night as the US celebrated women giving birth.

  • The Egyptians, as predicted, did a private, under the table purchase with Russia for 480,000 tonnes of wheat at USD $270 C&F (cost & freight).

  • This would put it around USD $250 FOB (free on board) Russia, which is under the floor price Hokey Pokey set a month ago. If I was a Ruskie Trader, I probably would not hop on a plane for a while.

  • A Bear in There came out with their latest Australian crop guess yesterday with wheat at 25.4 million, barley at 10.5 million and canola at 5.2 million tonnes.

  • Maybe they have adopted my scientific crop predictor, or 13 million hectares by 2 tonne per hectare equals 26 million tonnes.

  • This is the 8th largest wheat crop in Australian history, so chins up.

  • The total winter crop is forecast to be around 45 million tonnes, or the 6th largest.

  • The canola crop will be the 3rd largest.

  • But after last year’s bumper, it all feels a bit like barracking for Geelong, after winning the flag last year and not making finals this year.

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