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Australia’s independent grain report—designed to help support your pricing decisions before the market opens at 10:00am AEST. If you need to change your offer price, simply edit it before market open.
Chicago grain futures turned slightly lower on Wednesday as focus turned toward an abundant global supply of grains and away from the ongoing conflict in Iran that temporarily boosted prices.
Canadian canola futures firmed as Iran war risks supported crude oil and related energy commodities. The risk of a lengthy closure of the Strait of Hormuz in the Persian Gulf has driven crude oil prices higher, giving vegoils upward impetus.
BOM forecast is pointing towards relieving rain of 25-50mm for the eastern half of NSW picking up key areas in central and nth NSW (north of Dubbo and Mudgee through to sth QLD is very dry) with heavier falls of 50-100mm for most of QLD.
No fireworks but grain prices continue to gently firm. Barley bids up $3/t and most wheat up $2-4/t with most interest on the milling grades in east coast track markets.
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