Most markets closed at least 1pc lower. Soybeans fell more than 2pc.
- Chicago wheat March contract down US8 cents per bushel to 779.75c/bu;
- Kansas wheat March contract down 11.75c/bu to 812.75c/bu;
- Minneapolis wheat March down 17.5c/bu to 991.5c/bu;
- MATIF wheat March contract down €2.25/t to €280;
- Corn March contract down 9.5c/bu to 596c/bu;
- Soybeans March contract down 30.25c/bu to 1338.5c/bu
- Winnipeg canola March 2022 contract down C$3.50/t to $1018.90/t;
- MATIF rapeseed February 2022 contract was down €7.75/t to €761.50/t;
- ASX wheat January 2022 down $6/t to $355/t;
- ASX wheat January 2023 down $6.50/t to $367.50/t.
Local markets were quiet again with a lack of bids across the east coast boards. We saw South Australian wheat bids firm a fraction over the day on the cash boards, with APW1 going through at $390/t Adelaide for small volume while Port Lincoln port zone continues to trade at a $10-11/t premium.
The Western Districts’ wheat harvest has kicked off with reports of another impressive season of high yielding red wheat crops; growers through the region will get a solid run at harvest over the next 3-4 days.
We have started to see some precipitation build into the 8-day BOM forecast with southern NSW and Victoria forecast to receive 10-20mm; this will hold things up towards the middle to back end of next week through the western parts of Victoria.
Have a safe and happy New Year may the 2022 season bring plenty of joy again to growers and grain markets.
Source: Lachstock Consulting