1. Are the current values of CBOT WHT and Corn at reasonable lows?
- Market intel says yes
- Has the market factored in;
- Corn @ 370c/bu DEC (US prod est. @ 356 million tonnes).
- WHT @ 554 c/bu DEC
2. What will impact be to Australian domestic prices?
- Grain quality key to solid exports
- Russian wheat quality questionable
- European quality variable
- Black sea conflict?
- Domestic influences on export flow;
- Dry in north continues. Prices for delivered domestic zones in the south are reasonable value.
- Pull of stock north from Port Kembla zone shouldn’t affect stocks in the south.
- Domestic supply & demand in south seems more visible in last three weeks. Many enquiries coming through (a number with large volume).
- F1 available in Wimmera/WS, wheat lower central Vic/Wimmera and WD (some farmers ringing through with 500-1000 tonne parcels).
