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Grain Report Tuesday - 7th November

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!

  • And they're off in the Outlook Commodity Cup.

  • Chicago wheat jumped nicely and has settled at the front up a few bucks.

  • Kansas wheat has settled just behind Chicago on the rail.

  • US Beans is third but pulling hard. USDA will need to keep a strong hold of the reins of beans, or it could impact on inflation.

  • And corn is still in the barrier; it looks like US Corn is done before the race has even started. The US international runner, Corn has really had a disappointing campaign this year.

  • We might need to put the South American screen up and put corn down.

  • ASX wheat has settled behind beans, against the rail but looks poised to overtake them all. ASX’s Spanish jockey, El Nino is one of the toughest riders in the world and loves a dry track.

  • Around the turn and US wheat looks tired as Corn displaced Hard Red Winter into feed rations.

  • Soft Red winter wheat, which has always been an ordinary quality runner, is falling behind.

  • As mentioned, US corn is buggered and has been put down.

  • A late plunge by Chinese buyers sees US Beans move to the lead.

  • Hang on, the Jockey has pulled up beans? It looks like the Chinese cancelled all their contracts and swapped to Brazilian beans.

  • After falling behind after some trainers started to call the Aussie crop 26-28 million tonnes, ASX wheat has started to move around the field.

  • Maybe the trainers were just trying to get the odds up, as ASX looks very solid on the very dry track. The East Coast favourite is building. El Nino doesn’t even need to bring the whip out.

To read more, subscribe to Outlook Commodities Morning Commentary

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