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Grain Report Wednesday - 10th July

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!

  • As the younger generation says when dancing to “The Eagle Rock”, your pants can only drop so far.

  • Maybe we have hit the wheat floor.

  • Last night the bleeding from the US wheat futures markets stopped.

  • Corn was basically unchanged, and beans got smacked.

  • Australia exported 680,000 tonnes of canola in the month of June, bringing the estimated exports for the marketing year up to 4.6 million tonnes. The USDA guessed we would export 4.6 million tonnes in the 23/24 marketing year which ends in 3 months.

  • Based on this guess, canola ending stocks would be 800,000 tonnes.

  • There is currently 240,000 on the shipping stems for July, meaning we will export more than the forecast and we are eating into carry over stocks, with August and September exports still to come.

  • This starts to make canola very interesting as we move into the 24/25 marketing year...

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