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Grain Report Wednesday - 09th 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!

  • Reports the “Get It India” will allow wheat imports by reducing the import tax to a range of 0- 15%.

  • Before we all start high five-ing and ringing the local header dealer to buy a new John Deer, it is only reported by “2 sources” who are apparently in the know.

  • Who knows the 2 sauces might be Rogan Josh and Tikka Masala.

  • Last week there were reports they would be looking for 9 million tonnes, with some special deal done with Russia.

  • It doesn’t matter where it comes from, because it must come from one of the major exporters, which then changes the balance sheets and tightens supply, which is already tight.

  • Russia is forecast to export 47 million tonnes in the 23/24 marketing year, so if India takes 9 million tonnes, which was never planned, some other countries must fill the 9 million to other countries.

  • Last year, Get It India, who were forecast to export 10 to 12 million tonnes, because of their “bumper” crop, pulled the plug and cancelled exports in May and the market reacted accordingly, up significantly in a few weeks.

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