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Grain Report Wednesday - 24th May

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)

Look Out!

  • Markets have rebounded after the devastating news of the departure of Damien Hardwick.

  • I think the markets realised that when the coach leaves, the team wins the following week; so, load up and get on Tiges to win, but gamble responsibility.

  • However, the world sentiment remains bearish, and the sky is falling on our heads as prices decline in Europe and the Black Sea.

  • Buyer demand is dead as we transition from old crop to new crop, however, there has been some recent activity in Asian markets.

  • Russian new crop is quoted at USD $260 FOB (Free on Board) and talks of lower offers, below the minimum floor prices set by Hokey Pokey.

  • These are very brave Russian traders, and they probably shouldn’t stand next to windows in a tall building or eat food prepared by someone else.

  • Unfortunately, I must stop there, as the next part of my report for subscribers compares world values to our prices, export parity and the forecast bottom prices for new crop.

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