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Grain Report Wednesday - 31st January

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!

  • Turn around bright eyes.  

  • Every now and then I fall apart.

  • Turn around Tuesday as markets rebounded last night.

  • Well, that’s it, the 1st month of 2024 is pretty much done and dusted.

  • I might go and buy a hot cross bun today and put the Christmas decorations back up again.

  • Former Pakistani Cricketer and Prime Minister has been stumped and jailed for 10 years.

  • Whilst on the subject of cricket, the Chinese Xi Cricket Team has approved the import of Argie wheat, which could displace some Aussie demand.

  • But then again, we only have 18 million tonnes of wheat exports this year, so we will have to ration some markets.

  • Things in China are a little concerning, with pig numbers dropping 5%, human births dropping and the economy a little shaky.

  • A shift in consumption and demand from China is bearish, especially for oilseeds, as they import over 100 million tonnes of beans per annum.

  • A 5% drop in consumption equals 5 million tonnes of beans back onto the balance sheets.

  • On the flip side, the tensions building in the Middle East are causing some nervousness. If the bigger boy’s step in, make sure your diesel tanks are full.

  • Oil prices drive oilseed and corn prices and corn drives wheat, and after a few beers the wife drives home.

  • The South American crop guru, Dr. Cordonnier has left his Brazilian soybean forecast at 149 million tonnes and corn unchanged at 115 million tonnes.

  • He has however warned this could drop if dryness continues in central and southern regions.

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