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Grain Report Wednesday- 25th October

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 corn both off last night and beans up.

  • Soybeans were up on strong demand for meal, but canola was down on lower veg oil prices.

  • Soybean meal prices are over AUD $1000 per tonne in Australia, which means the crush margin for any oilseed to make oil and meal is profitable.

  • Australia imports between 800,000 to 1 million tonnes of soybean meal to feed mainly chickens and a few pigs.

  • Argentina was the largest soybean meal exporter, but due to their drought and lower production last year, they have run out and Brazil has now taken over the trophy.

  • In the US, the Soybean meal contract traded to its highest level since 2012.

  • The weather patterns in South America are still not perfect, with central Brazil remaining dry and southern Brazil too wet.

  • China is out in the supermarket filling its trolley with wheat.

  • Reports they booked a few Aussie cargoes last week and are now looking at the lower home brand shelves in France and USA.

To read more, subscribe to Outlook Commodities Morning Commentary

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