Daily Market Comment - 8/01/2008

Tuesday, January 08, 2008

The market closed lower on Friday on the back of weak outside markets, disappointing export sales and negative economic news. There was a belief that the selling was liquidation following two straight days of limit up closing last week.

Chicago wheat for March 2008 is down 13 ½ cents to 931 ½ cents per bushel.

Chicago corn for March 2008 is up ¾ of a cent to 466 ¾ cents per bushel.

Winnipeg canola for March 2008 is up $0.50 to $531.90 Canadian a tonne.

AWB’s fixed grade contract price (based on APW1) for the 07/08 season today are:

$420.00 – Port Kembla
$402.00 – Geelong
$392.00 – Portland
$365.00 – Port Adelaide
and our Multi-Varietal contract price (based on APW) for:

$348.00 – Port Lincoln
AWB’s 07/08 canola price is today at $648 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.