UPDATE: 14th of May, 2018

The Friday overnight markets were bearish as funds put their selling boots on as traders unwound the net longs in grains/oilseeds. CME wheat futures hit a two week low with technical selling with US data pointing towards a larger than expected US wheat production forecasts with reduced apprehensions about dry weather cutting yields in the southern plains, KCBT and MGEX both ended the session lower. CME corn futures ended lower with the fund driven liquidation with a lack of new news to support prices as decline in wheat and soybeans spilled over into corn. CME soybeans fall to their lowest level in a month as a combination of technical selling, increased Brazilian production output and uncertainty in the US/China trade dispute lead to the selloff. Canadian ICE canola futures eased on spill over from US soybean markets but also pressured by the Canadian governments assessment in stock levels. Our currency is trading at 0.7544, up 8 points from Friday evening. Overall we should see local cash markets mostly unchanged in the current and new crop for grains as canola likely to be unchanged to up $1/mt. Wheat basis to be steady to start the week.

Cash BidsBrisbaneNorthern NewcastleSouthern NewcastlePt KemblaMelb/Gee
APW 17/18$370$350$350$325$300
F1 17/18$375$360$340$320$290
Ex Farm/DeliveredNorthern NSWCentral NSWSouthern NSWVic
CHKP1 Delivered 2017/2018Goondiwindi POAWee Waa POATrangie POAPOA
Albus Lupins 2017/2018Trangie $420MGS Bomen $420-$20 No.2

The Special One Grain General Terms and Conditions apply to all Grower Purchase Contracts.

These cash prices are indicative only and subject to change without notice. For our latest prices please contact Special One Grain on 1300 28 12 28.

To discuss your individual grain marketing requirements, please contact our friendly Grower Services team.
Georgie Currey: georgie.currey@specialonegrain.com.au / 0417 835 227
Emily Wilson: emily.wilson@specialonegrain.com.au / 0417 933 714