Daily Market Comment - 11/04/2008

Friday, April 11, 2008

Wheat prices opened higher and attempted to rally, however this effort quickly failed and prices were lower by the close.

Canola finished slightly higher however farmer selling tempered the rise into the close, as soybeans continued to trend higher.

Chicago wheat for May 2008 is down 11 cents at 923 cents per bushel.

Chicago wheat for December 2008 is down 10 1/2 cent to 963 cents per bushel.

Winnipeg canola for May 2008 down $ .60 to $ 654.40 Canadian a tonne.

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

$355.00 – Newcastle
$355.00 – Port Kembla
$355.00 – Geelong
$350.00 – Portland
$355.00 – Brisbane
$332.00 – Gladstone
$333.00 – Port Adelaide
$331.00 – Port Lincoln

AWB’s 08/09 canola price today is unchanged at $ 740 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.