Daily Market Comment - 02/05/2008

Friday, May 02, 2008

The wheat market has started the week on a positive note, posting respectable gains across the board at all three exchanges. Prices were supported by strong corn prices, freezing temperatures were also reported in the southern Plains over the weekend, but this is thought to have caused little or no crop damage.

Chicago wheat for May 2008 is up 25 ½ cents at 826 cents per bushel.

Chicago wheat for December 2008 is up 24 ½ cent to 873 ½ cents per bushel.

Winnipeg canola for May 2008 down $ 13.00 to $ 587.40 Canadian a tonne.

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

$318.00 – Newcastle
$318.00 – Port Kembla
$318.00 – Geelong
$313.00 – Portland
$318.00 – Brisbane
$307.00 – Gladstone
$301.00 – Port Adelaide
$299.00 – Port Lincoln

AWB’s 08/09 canola price today is down $ 22 at $ 688 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.