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Grain Report Wednesday - 20th September

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 and beans off slightly and corn up a smidgeon.

  • Canola mixed with Winnipeg off and MATIF up.

  • With the increase in oil prices, this should be supportive of oilseeds as it increases demand for biofuels.

  • Crude Oil futures have risen from USD $70 a barrel in July to almost USD $90 a barrel today.

  • Remember at the start of this week, the Egyptians said they had enough wheat stocks for 5 months, which is their way of saying we will have a tender this week.

  • Well, true to form, the Egyptians are holding a wheat tender today. I wish the Powerball numbers were as easy to pick as the Egyptian tenders.

  • It will be interesting to see if the Ruskies drop their pants and offer at their current values of around USD $240 FOB (Free on board) or they obey Hokey Pokey and all offer at the USD $270 floor price for tenders.

  • South Korea is also tendering for Australian wheat, which will give us a handle of export prices.

  • I spoke with Hanrahan yesterday and he was concerned about high oil prices, high urea prices, high interest rates, mixed with low sheep and cattle prices and the BOMB finally declaring an El-Nino.

  • However, he was quite optimistic about the Eagles winning a game next year.

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