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Grain Report Wednesday- 29th 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!

  • Wheat and beans up strongly last night.

  • Matif and Winnipeg canola were also up.

  • However, our Aussie dollar continues to firm against the green back which is not great for our prices.

  • Hokey Pokey has advised they will ban wheat exports if stocks fall below 10 million tonnes.

  • Now if we use the USDA guess, and the Ruskies produce a 90 million tonne crop, and they export a record 50 million tonnes, the Ruskie ending stocks would be around 11 million tonnes.

  • So, nothing to see here, says the policeman moving the crowd on as a building explodes behind him.

  • Remember, the Yanks ramped up the Ruskie wheat crop by a staggering 5 million tonnes in their last Supply and Demand stab.

  • My plumber mate next door, who is a bit of a conspiracy theorist, reckons the Yanks increased the Ruskie wheat crop to offset the decrease in Argie, Kazakhstan and Indian crops and stopped any market rally impacting on inflation in a US election year. 

  • My plumber mate also won't stand near a 5G tower.

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