Daily Market Comment - 13/06/2008

Friday, June 13, 2008

The market opened sharply lower this morning and sold off further in early trade. Prices firmed during the remainder of the morning along with a much stronger corn market before easing into the close. Traders credited the lower open in wheat to a weaker US dollar as well as weakness in other grains.

Chicago wheat for September 2008 is down 17 1/2 cents to 868 cents per bushel.

Chicago wheat for December 2008 is down 17 1/2 cents to 891 1/2 cents per bushel.

Chicago corn for December 2008 is up 6 3/4 cents to 739 1/2 cents per bushel.

Winnipeg canola for November 2008 is up $5.70 to $675.40 Canadian a tonne.

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

$353.00 – Newcastle
$353.00 – Port Kembla
$353.00 – Geelong
$343.00 – Portland
$353.00 – Brisbane
$330.00 – Gladstone
$333.00 – Port Adelaide
$333.00 – Port Lincoln

AWB’s 08/09 canola price today is up $11 at $744.00 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.