WELCOME TO THE GRAINPRO MARKET UPDATE 24th JUNE 2019

AUD / USD ◄► $0.69.2… !

US MARKET:

Still in consolidation mode however with a bullish forecast on pending USDA reports

AUSTRALIA

Hello and welcome to the Grainpro market report for today Monday 24th June 2019.

Growers digging heals in awaiting the magic $400+/mt in Victoria

Here we are, almost at the end of the first period and still the “Squeeze” continues. Only 6 weeks ago we saw a $50 gap between Wheat & Barley for delivered bids into various locations. Then came the reality check! End users switched to buying barley over wheat because it represented better value and of course wheat tumbled and barley spiked slightly and the gap closed to a more traditional spread ($15-$20).

A Yo-Yo Market However Rising In Small Increments.
We had a sluggish end to the last week across all states other than some volatility in South Australia and Queensland which is predicted to continue into this week. Wheat & Barley in SA still suffering as a consequence of lower bids in Victoria, leaving us with a hand to mouth scenario from both sides of the market.

In low yielding years end users look to secure large parcels hoping to snag supply security well into the deferred period (July to December), however only small parcels are being offered for sale on shorter delivery periods. Of course when this happens we tend to see a squeeze in the market leaving trade suppliers with no other choice but to play to keep the wheels turning; and growers, only willing to dribble out small parcels to suit their needs and in hope of a spike in the market!

Victorian prices are expected to rise slightly this week, with a very bullish outlook according to our grower feedback. On farm Barley in Victoria UPaveraging around $335 to $345 and Wheat at a more traditional gap of around plus $15 to $20 – On Farm $350 -$370 depending on location.
However Victorian Oats, Lupins and Peas are increasingly difficult to source, this is reflected by some of the highest pulse prices in Australian history.

NSW continues to strengthen as reports from our WA connections tell us that there not much grain left in grower hands and given the slowing export activity prices in WA have jumped to record levels again with Oats around $400+ Wheat & Barley $340-$360. This makes shipping grain over to the East coast a non-competitive exercise UNLESS prices on the East coast increase significantly, does the WA market know something we don’t?? or perhaps it is just given that in a year with such low stocks and increasing demand; it’s there for the picking? And with a long 6 months to go the question still remains.. ”How Much Grain Is Actually Left In Australia”?.. Apparently there is plenty in Canada!

Please remember to leave your comments and questions on what’s important to you. And read a more detailed snapshot of market indicators in the text below.

A quick note, The Grainpro team will be at the Speed field days on July 31st and August 1st, we hope to see you there and put a face to a name.

Price Fluctuations Below Reflect Averages Only

MONDAY 24th JUNE OPENING BIDS & OFFERS

Left Side: Market Bids ■ Right Side: Offers & Seller Expectations. Final Bids & Offers May Vary Depending On Exact Pickup or Delivery Location. Prices in AUD per metric tonne

BARLEY F1

Barley min F1:
Victoria Delivered Bids & Offers

Melbourne Range:
Bids◄► $375 – $385 ■ Offers ◄► $415-$440
Goulburn Valley:
Bids◄► $380-$385 ■ Offers ◄► $420-$450
Gippsland:
Bids ◄► $395 -$415 ■ Offers ◄► $450-$465

Barley min F1:
Queensland Delivered Bids & Offers

Central Qld:
Bids▲ $425 – $430 ■ Offers ◄► $432-$440
Downs:
Bids ▲ $425 – $430 ■ Offers ◄► $430 – $445
Bris Fot:
Bids▲ at $400 – $405 ■ Offers ▲ $410 – $415

Barley min F1:
NSW Delivered Bids & Offers

Liverpool Plains:
Bids ▲ $425 – $430 ■ Offers ◄► $452 – $465
Riverina:
Bids ▲ $417 – $420 ■ Offers ◄► $432 – $440
Newcastle Fot:
Bids▲ $395 – $400 ■ Offers◄► $405 – $415

Barley min F1:
South Australia Bids & Offers

Adelaide Fot:
Bids◄► $330-$335 ■ Offers ◄► $355-$365
Delivered South East:
Bids◄► $350-$355 ■ Offers ◄► $395-$405

WHEAT Min ASW

Wheat min ASW:
Victoria Delivered Bids & Offers

Melbourne:
Bids▲ $385-$390 ■ Offers ◄► $432-$445
Goulburn Valley
Bids▲ $400-$405 ■ Offers ◄► $432-$442
Gippsland
Bids▲ $410-$420 ■ Offers ◄► $447-$465

Wheat min ASW:
Queensland Delivered Bids & Offers

Central Qld
Bids ▲ $437 – $447 ■ Offers ◄► $450-$458
Downs:
Bids ▲$437 – $447 ■ Offers ▲ $455 -$465
Brisbane Fot
Bids ▲ $400 ■ Offers ▲$407-$415

Wheat min ASW:
South Australia Bids & Offers

Adelaide Fot:
Bids ◄► $340-$345 ■ Offers ◄► $375-$395
Delivered South East:
Bids ◄► $377-$380 ■ Offers ◄►$405-$425

Wheat min ASW:
NSW Delivered Bids & Offers

Liverpool Plains
Bids▲ $442-$450 ■ Offers◄► $455-$460
Riverina:
Bids▲ $410-$420 ■ Offers ▲ $442-$455
Newcastle Fot:
Bids▲ $397-$400 ■ Offers ◄► $410-$415

OATS M1

Delivered Melbourne:
Bids ◄► $555-$560 ■ Offers ◄► $565-$570
Fot Newcastle:
Offers Only ◄► $535 – $555
Fot Parkes:
Offers Only ◄► $580-$587

MAIZE/CORN:

Farm Gate Bids & Offers
Victoria Feed Corn

Bids ◄► $455-$460 ■ Offers ◄► $482-$485
Riverina Grit Corn
Bids ◄► $475-$485 ■ Offers ◄► $495 – $500
Delivered Northern NSW 
Bids $550-$555 ◄► ■ Offers ◄► $560-$570

COTTONSEED:

2019 Ex Gin Bids & Offers

Southern Gin Spread
Bids ▼▲ $455 -$460 ■ Offers ◄► $455-$500
Northern Gin Spread
Bids ◄► $512-$515 ■ Offers ◄► $525-$550
Queensland
Bids ◄► $535 ■ Offers ◄► $550-$575

SORGHUM

Delivered Central Qld
Bids◄► $327-$330 ■ Offers ◄► $350-$370
Delivered Downs
Bids◄► $350 – $355 ■ Offers ◄► $372-$385
Delivered Brisbane
Bids◄► $370-$375 ■ Offers ◄► $405-$415
Delivered Melbourne
Bids ◄► $440-$450 ■ Offers◄► $465-$470
Delivered Sydney
Bids ◄► $390-$395 ■ Offers ◄► $410-$420

WARNING

Western Australian & South Australian Grown Lupins Are NOT Permitted To Be Transported Into NSW Without Proper Authority Please Check With DPI

Round LUPINS

Round: Farm Gate Bids & Offers

Farm Gate Victorian Grown Only
Bids◄► $615 -$620 ■ Offers◄► $625 – $630

FOT Victorian Port Bids & Offers
Western Australian Origin

Melbourne FOT Offers Only ◄► $530

ALBUS LUPINS :

Export DCT Bids & Offers
Victoria

Bids◄► $1000 ■ Offers ◄► $1200-$1420

FIELD PEAS

Melbourne DCT Export No1s
Bids ◄► $545 – $550 ■ Offers ◄► $625-$635
Victoria Farm Gate Feed Peas
Bids ◄► $525 – $530 ■ Offers ◄► $545-$550

FABA BEANS

Melbourne DCT Export No1s
Bids ◄► $825 – $835 ■ Offers ◄► $950-$1000
Victoria Farm Gate Feed Faba
Bids ◄► $750 – $755 ■ Offers ◄► $800-$850

LENTILS:

Export DCT Bids & Offers
Victoria / SA

Nippers: Bids ◄► $565-$575 ■ Offers ◄► $610-$620
Nuggets: Bids ◄► $545-$550 ■ Offers ◄► $610-$640

FEED LENTILS:

Farm Gate Bids & Offers
Victoria

Bids ◄► $460-$462 ■ Offers ◄► $475-$480

CHICKPEAS:

Export DCT Bids & Offers

Brisbane
Desi: Bids ◄► $725 – $730 ■ Offers ◄► $875 – $900
Kabuli: ◄► NO BIDS ■ Offers ◄► $1060-$1150
Melbourne / Adelaide
Desi: Bids ◄► $740 – $750 ■ Offers ◄► $875-$900
Kabuli: No Bids ◄► ■ Offers ◄► $1055-$1150

CANOLA

Non GM Min 42%
Delivered Bids & Offers

Delivered Melbourne:
Bids ◄► $580-$600 ■ Offers ◄► $640-$650
Delivered Riverina
Bids◄► $570 – $590 ■ Offers ◄►$650-$660
Delivered Sydney / Newcastle
Bids ◄► $625 – $630 ■ Offers ◄► $650-$660

For Firm Pricing & Market Guidance Call GrainPro

1800 816 887 or visit: www.grainpro.com.au


Please Note The Information Above and Below Are Views Of Market Conditions and Prices As Expressed By GrainPro Pty Ltd and Are Not to be taken As Advice, They Are Only A Guide. Please consider your own Personal and Commercial Circumstances and responsibilities When Buying or Selling.

HAY & STRAW MARKET UPDATE

HAY

Bid Prices Dependent On Exact Pickup Location

On-farm Dependent on location 8x3x4 min 600kg Feed Tested

Oaten: VIC
◄► Bids $405+ ◄► Offers $420+ min 9.5% Protein 9 ME
Wheaten: VIC
◄► Bids $400+ ◄► Offers $420+ min 9.5% Protein 9 ME

Blends: VIC
◄► Bids $400+◄► Offers $420+ 10+% Protein 9 ME

Canola: VIC
◄► Bids $330 ◄► Offers $350 min 14+% Protein 10 ME

Clover: VIC
◄► Bids $400 ◄► Offers $420+ min 14+% protein 10 ME

Vetch: VIC
◄► Bids $415 ◄► Offers $435+ min 23+% protein 11 ME

Lucerne: VIC
◄► Bids $490 ◄► Offers $540+ min 26+% protein 12 ME

STRAW:
.
XF SA / VIC
▲Bids $155+ – NSW ▲ $180+
.