AussieGrainPro

Grain Marketing | Commodities Trading

[AussieGrainPro @AussieGrainPro]

Grain Market Highlights 07/08/2024:

Egypt and Algeria are tendering for wheat. - could this mean they're picking the bottom of the market?

French soft wheat production is at a 41-year low.

U.S. farmers are selling corn and beans ahead of record new season production;

[AussieGrainPro @AussieGrainPro]

Not a lot of rain forecasted for the EC in the next 8 days. Hopefully crops in SNSW, VIC and SA can last on subsoil moisture.

[GrainWealth @GrainWealth]

Morning Aus Market Update:

Wheat and Corn trading slightly higher.

Canola continuing weakness due to falling soybean complex.

Wheat: Unchanged
Barley: Unchanged
Canola: Down $8-$10 🔻

#Wheat #Agmarket #Agriculture #Agribusiness #Canola #Oil

[GrainWealth @GrainWealth]

GrainCorp and LDC pulling old crop Canola prices back $20/mt this morning off the pack of weaker EU market 🙄.

[GrainWealth @GrainWealth]

Decent rainfalls last week across the country... could see some more farmer selling in the coming days pushing locas prices down.↘️↘️

[AussieGrainPro @AussieGrainPro]

Forecasted Domestic Price Trends EC Australia:

6 Week:
Wheat: Decrease by $5 to $10🔻
Barley: Decrease by $5 to $10🔻
Canola: Increase by $15 to $18🔺

12 Week:
Wheat: Increase by $10 to $12🔺
Barley: Increase by $8 to $12🔺
Canola: Increase by $10 to $20🔻

[AussieGrainPro @AussieGrainPro]

Prime Minister Narendra Modi flew into Moscow on Monday to meet President Vladimir Putin.
"Looking forward to our talks tomorrow as well, which will surely go a long way in further cementing the bonds of friendship between India and Russia," (will wheat be on the agenda??).

[AussieGrainPro @AussieGrainPro]

ZWU4 CBOT Wheat July 2024

[AussieGrainPro @AussieGrainPro]

-20 cents in #CBOTwheat to start the week with favourable #corn weather and decreasing demand in EU. 🌽📉

Is anyone bold enough to buy at this low? 🤔 #GrainMarkets #AgriTrading #Commodities