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Grain Report Wednesday - 19th April

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)

Look Out!

  • Markets mixed last night, with a bit of sting coming out of Kansas for no other reason that the Chicago / Kansas spread is huge.

  • Corn up slightly and beans unchanged in the nearby, and up in the back end.

  • This is against the flow, as the whole oilseed complex is in a spin.

  • The market is worried about Russian sunflower exports, with tensions regarding the extension of the grain corridor.

  • On the back of this news, which has been in the market for 2 weeks, Matif Canola futures are up AUD $62 per tonne since the start of the week. So, if you have Canola listed on CGX, which you should as hiding your grain under your mattress is a bit weird, then lift your prices.

  • What is more interesting, is as wheat has rallied AUD $17 per tonne (Chicago) and AUD $20 on Kansas on the same concern plus weather concerns, but oilseeds have rallied AUD $60 per tonne on the back of the same threat.

  • If Hokey Pokey doesn’t extend the grain corridor, the impact to world wheat supply would be greater than oilseed supply, in my humble opinion.

  • We are not putting wheat into cars. If vegetable oil becomes tight, just take it out of biofuels and stop buying Maccas and KFC, problem solved.

  • Irrespective, ride the rally, lift your prices, as the export margins for Canola are far higher than wheat and barley.

  • Want some bullish news; China’s GDP grew 4.5% in the first quarter of 2023 and is the highest growth since the first quarter of last year.

  • These numbers are stronger than the market anticipated.

  • Their pork output also increased 1.9% in their 1st quarter, their highest tonnage in 5 years.

  • Here piggy, piggy, piggy, come and get some Aussie barley.

Most importantly we're always here to help!

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