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Grain Report Wednesday- 18th 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!

  • Hump day and wheat and corn were off last night.

  • Matif and Winnipeg canola were also both off a touch.

  • ASX Jan wheat was off a buck and the Aussie dollar was up a smidgeon.

  • Beans were up on the back of Brazilian slow-paced planting.

  • However, US export sales are 8 million tonnes behind the same time last year, so that needs to pick up pace a bit.

  • At the same time, rains for the largest producing region in Brazil, the Mato Grosso, are still lacking.

  • Need to keep an eye on the weather in South America as it can have an impact on both Corn and Beans.

  • If corn production drops, it pushes up wheat prices.

  • There are already forecasts Brazil will plant 11% less corn acres due to dryness and production forecast is down 12 million tonnes to sub 120 million tonnes year on year.

  • The US wheat crop is 68% planted, which is at the 5-year average pace. Nothing to see there.

  • EU Canola imports for the 23/24 season, which starts from July, are down 38% from the same time last year.

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