Grain Report Tuesday - 9th January
- Clear Grain Exchange
- Jan 9, 2024
- 2 min read
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!
The markets got slapped with a dead fish last night.
Wheat was off the most, with Chicago off almost AUD $11 per tonne, which also means the Egyptians have announced a tender for some more wheat.
I thought their Minister said they had plenty of stock.
The USDA will be releasing their first world supply and demand guess this Friday.
It will be interesting to see if they drop their Brazilian corn and bean crops in line with the rest of the analysts.
In their December report they had the Brazilian corn crop at 129 million tonnes, whilst most of the gurus have it below 120 million tonnes.
For beans, the USDA’s last guess was 161 million tonnes, with the market calling it closer to 150 million tonnes.
But there were rains through Brazil on the weekend, so maybe they will leave the corn crop unchanged?
Interesting report by Reuters there are some concerns from Ukrainian government scientists about the impact of sudden changes in weather from mid-December, where conditions were warmer, and now after the thaw deep frosts have covered the entire cropping regions.
This crop is forecast to be around 22 million tonnes, and previous reports were all positive for a good crop with soil moisture at the highest level in 14 years.
Markets on the East Coast continue to defy logic with SFW wheat now being offered at parity to feed barley.
That tells the market, there is abundant SFW and tight barley supply.
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