Grain Report Wednesday - 4th September
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.
Look Out!
Markets up strongly last night.
Chicago wheat was up AUD $10 in the nearby and Kansas up AUD $6.
The big news overnight was that China is looking to start another anti-dumping investigation on Canadian canola after Canada introduced an import tariff on Chinese electrical vehicles. As a result, the Canadian canola market fell CAD $25 per tonne.
Maybe we need to send Penny Wong and her father to China to stitch up some market access for Ozzie canola; it’s time for two Wong’s to make it a right.
There were some concerns that the US corn crop conditions might decline due to recent hot weather; however, this week’s ratings came out at 65% Good to Excellent, the same as last week.
However, soybeans dropped 2% to 65% Good to Excellent.
Whilst on soybeans, the forecast for the Brazilian bean crop for next year is almost 170 million tonnes, which is 18 million tonnes more than this year.Â
This crop hasn’t even been planted yet. It’s also been hot and dry in Brazil which will delay bean planting, as well as impacting on their current wheat crop which is almost ready to be harvested.
For further market commentary please contact the CGX team on 1800 000 410
CGX now own and operate the igrain market for grain stored on-farm
If you have any queries, we're always here to help!
Please give us a call or email if you have any questions.
Call 1800 000 410 or Email support@cgx.com.au
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