Daily Market Comment - 29/05/07

Tuesday, May 29, 2007

US wheat futures closed up in Trading. Hot and dry weather in the Ukraine and continued concerns of tight world stocks helped spark the solid gains in wheat during the session.

Chicago wheat for July 2007 is up 10 cents at 501 cents per bushel.

Chicago wheat for December 2007 is up 10 ½ cents at 525 cents per bushel.

Chicago corn for July 2007 is down ½ a cent at 376 cents per bushel.

Winnipeg canola for November 2007 is up 60 cents at $402.00 Canadian per tonne.

AWB’s Multi-Varietal contract price (based on APW) for the 07/08 season is up $2 today at:

$217.00 – Newcastle
$212.00 – Port Kembla
$208.00 – Geelong
$205.00 – Portland
$203.00 – Port Adelaide
$189.00 – Port Lincoln
$210.00 – Fremantle
$192.00 – Geraldton

AWB’s 07/08 canola price is up $3 today at $473 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.