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Grain Report Wednesday - 23rd August

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!

  • Markets mixed last night with no real changes in wheat and corn.

  • Beans were softer and Winnipeg canola had its bottom smacked, falling AUD $15 per tonne even though their crop is overstated.

  • China is also forecast to import 100 million tonnes of beans this marketing year, which is 2 million more than what the USDA forecast.

  • But China might have “gorn” the early crow as they need their economy to improve for more pigs and chickens to be eaten to increase more bean imports.

  • It was reported today, one in three, or about 50% of Aussie skool kids are behind in numeracy and literacy. That number seems hi.

  • I was completely wrong about the Egyptian wheat tender, which I thought the Ruskies would be all over it and win the business.

  • But then I forgot that Hokey Pokey set a new floor for wheat prices a couple of weeks ago at USD $270 for tenders and USD $260 for private buyers.

  • Hence all the Russian wheat was offered at USD270 and consequently the Egyptians bought only 1 cargo off Dracula’s home country at a price USD $270.25 delivered or USD $256 FOB (Free on board).

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