Daily Market Comment - 10/05/2007

Friday, May 11, 2007

US wheat futures finished slightly up in a mostly quiet day session, with slight gains on position squaring ahead of Fridays USDA supply and demand report.

In addition, more rain in the forecast for today and tomorrow for the central and southern plains districts of the US has traders nervous over the possibility of increased disease problems with the hard red crop which added to the positive tone.

Chicago wheat for July 2007 is up 1 cent at 482 cents per bushel.

Chicago wheat for December 2007 is down 1 cent at 502 cents per bushel.

Chicago corn for July 2007 is down 2 ¾ cents at 366 ¼ cents per bushel.

Winnipeg canola for November 2007 is up $3.50 at $381.00 Canadian per tonne.

AWB’s Multi-Varietal contract price (based on APW) for the 07/08 season is unchanged today at:



$215.40 – Newcastle
$210.40 – Port Kembla
$205.70 – Geelong
$203.10 – Portland
$192.00 – Port Adelaide
$187.10 – Port Lincoln
$200.00 – Fremantle
$190.00 – Geraldton
AWB’s 07/08 canola price is unchanged today at $443 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB