Daily Market Comment - 01/07/2008

Tuesday, July 01, 2008

December wheat contracts opened on its highs and remained under pressure throughout the session before plunging into new low ground going into the close. Traders indicated that pressure was added from corn and the soybean markets.

Chicago wheat for September 2008 is down 30 3/4 cents at 912 cents per bushel.

Chicago wheat for December 2008 is down 30 1/4 cents to 935 1/2 cents per bushel.

Chicago corn for December 2008 is down 1 cent at 787 cents per bushel.

Winnipeg canola for November 2008 is down $4.90 to $690.00 Canadian a tonne.

AWB’s Multi grade contract price (based on APW1 flat priced) for the 08/09 season are down today at:

$352.00 – Newcastle
$352.00 – Port Kembla
$352.00 – Geelong
$342.00 – Portland
$352.00 – Brisbane
$329.00 – Gladstone
$332.00 – Port Adelaide
$332.00 – Port Lincoln

AWB’s 08/09 canola price today is down $6 at $754.00 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.