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Grain Report Wednesday - 02nd August

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!

  • I forgot yesterday was an important day in the equine industry.

  • I only know this because my wife walked in on me when I was in the shower and said Happy Birthday.

  • I digress.

  • The wheat and corn sell off continues on the futures markets.

  • Beans however held their own in the nearby and were firmer in the back end.

  • The Egyptian government is holding a tender for wheat tonight. My guess is Russian will be the winner, winner chicken dinner sub the USD $260 C&F (Cost and freight) level.

  • The Egyptians have been absent from the market for some time as money is extremely tight and they need a little bit of assistance from other countries, like Nimble and a bit like Nimble and Afterpay.

  • The Egyptian government buys wheat to make a subsidised flatbread known as “Baladi” or local bread. It’s very basic, high extraction flour with a high ash content, which is supplied to the market, rather than providing a Centrelink payment.

  • Unemployed and less fortunate Egyptians are given food to survive. It’s not a great system, yet some other governments have toyed with a similar system, but instead of supplying bread to survive, they have considered a plastic card for food purchases, a bit like a developed world Baladi Bread system.

  • But like all government programs, inefficiencies have crept in, and donkeys and camels are also beneficiaries of the cheap subsidised “Baladi” bread.

  • I wish our government would come and feed my horses.

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