Grain Report Wednesday - 11th September
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!
Wheat markets were up last night, as the UK government data suggests that England is heading for one of its worst harvests on record.
Not sure that was the reason the US wheat markets were up, as they would pay little attention to the UK, but it’s a good headline.
What’s more interesting is that a boat of French wheat has been shipped to New York.
The Yanks grow a 53 million tonne wheat crop, have carry over stocks of 22 million tonnes and yet they need to import a bit of cheaper French wheat.
Sacre bleu.
Still a lot of concerns about the weather in Brazil before their corn and soybean are planted, however a lot are saying it's seasonal.
Is anyone looking at oil prices?
US crude oil hit USD $65 per barrel overnight which is the lowest level since 2021, the Covid era.
I wonder if we will see that price drop at the bowser? Quick better ring the ACCC. Â
Cheap oil is not good for oilseeds as vegetable oil goes into biofuels and this price determines crush margins. Lower oil prices usually convert to lower oilseed prices as the crusher margin evaporates unless the seed price drops. We are seeing this in China, with cheaper soybeans, they have started importing more beans as the crush margin has returned to a positive. Â
For further market commentary please contact the CGX team on 1800 000 410
CGX now own and operate the igrain market for grain stored on-farm
If you have any queries, we're always here to help!
Please give us a call or email if you have any questions.
Call 1800 000 410 or Email support@cgx.com.au
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