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Grain Report Wednesday- 11th October


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!

  • Wheat and corn off last night and beans up.

  • MATIF and Winnipeg Canola were also both off.

  • Oil was off slightly, which goes against the market sentiment after the Israel – Palestine conflict and potential disruption to Middle East Oil supply.

  • The AUD was also a little firmer, which will all result in our markets potentially being a bit softer today.


  • I mentioned yesterday about the South American soybean and corn crops. The El Nino will have an impact on Brazil with one major region dry, but the southern region wetter.

  • However, this would impact Corn production (lower) and not beans as this will be offset by higher bean yields in southern Brazil.

  • Well, CONAB, the Brazilian forecaster, came out with the 23/24 Bean crop at a record 162 million tonnes (up 8 million from this year) and Corn at 119 million tonnes (13 million tonnes less than this year).

  • The USDA has Brazil pencilled in for 129 million tonnes of Corn and 162 million tonnes of Beans.


  • Will be interesting if the USDA reduces the corn numbers in their world supply and demand guess on Thursday.

  • In a secret deal that was leaked 2 minutes after the handshake, the Egyptians just bought 480,000 tonnes off the Ruskies at the Hokey Pokey floor price of USD $265 FOB (Free on board).

  • With a smaller Aussie crop and looking at historical spreads between our FOB prices and the Ruskies, a USD$50 premium is around the mark.


  • If Hokey Pokey maintains that floor price of USD $265 FOB, it will see Aussie APW around USD $315 FOB or AUD $450 FIS (Free in site) WA and AUD $435 Track East Coast.

  • However, there are murmurs in the market, the Ruskies are selling wheat at USD $240 FOB.

  • Add USD $50 premium to that value and we are around USD$290 FOB.



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