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Grain Report Wednesday- 15th November

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 off slightly and row crops, corn and beans up slightly last night.

  • Unfortunately, the Yankie economic CPI figures were not positive, which saw the USD weaken, or glass half empty, the Aussie dollar was firmer up almost .5 cents.

  • Back of the envelope, at USD $280 FOB (Free on Board) yesterday converted to AUD $440 FOB.

  • Today, that wheat is worth AUD $430 FOB or AUD $10 less.

  • Damn you Biden his time.

  • Also, the Ruskies are getting some timely rains in their southern regions where a lot of their wheat is grown.

  • Damn you mother nature.

  • Here is an interesting statistic; US wheat exports are on pace to be the lowest in 50 years.

  • The Yanks do like to carry a lot of their wheat over each year.

  • But whilst we look at these stats, Brazil has just bought 600 tonnes of US Soft Red winter wheat. The Brazilian wheat crop has also suffered this year due to dry conditions.

  • The South American crop guru, Dr. Cordonnier lowered the Brazilian corn crop by 2 million tonnes to 121 million tonnes.

  • The Yanks guess in their latest WASDE report last week was 129 million tonnes.

To read more, subscribe to Outlook Commodities Morning Commentary

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