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Grain Report Wednesday - 8th 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 corn off last night.

  • Beans up as regions in Brazil continue to miss rain and remain dry.

  • Winnipeg and Matif canola were also both off.

  • Murmurs in the market, growers are warehousing canola due to the lower returns.

  • Oilseed markets are always a tough one to call with so many moving parts including fuel prices, palm oil and meal prices.

  • Oil prices are at 2-month lows, which has put some pressure on vegetable oil and palm oil prices.

  • But whilst it remains dry in Brazil, US beans hitting a 6-week high this week, not sure if I would be an aggressive seller, but then again, I just sit behind a desk.

  • Track bids are around AUD $650 Victoria, AUD $670 Kembla, AUD $640 Adelaide and AUD $690 WA.

  • The US corn and bean harvest are in their last stages.

  • US winter wheat planting is also pretty much completed. The bearish sentiment is that more Hard Red winter acres were planted.

To read more, subscribe to Outlook Commodities Morning Commentary

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