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Grain Report Wednesday- 1st 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!

  • Like a Halloween horror movie, wheat markets were off again last night. We haven’t hit that September low of 540 cents yet.

  • I am a glass half full of Soymilk type of guy.

  • Corn and beans held their heads above water.

  • Reports hitting the market about China buying 2 million tonnes of new crop Aussie wheat.

  • They have also bought 2.5 million tonnes of French wheat, which is surprising, because estimates are China had 20% or around 25 million tonnes of their wheat crop downgraded to feed wheat due to excessive rains before harvest, and French wheat is not that far off feed quality.

  • Of course, I am joking, French milling wheat is below feed wheat quality. Boom!

  • Anyway, the take home story is China needs quality wheat, which is what we grow.

  • And if they continue with their same buying enthusiasm for Aussie wheat like they have this year, then other buyers might need to get in before we don’t have any more to sell.

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