Daily Market Comment - 1/06/07

Monday, June 04, 2007

US wheat futures continued to rise overnight. More rain in the US plains, and fears of continued weather problems in the Ukraine, caused some speculative short-coverings. Funds were noted buyers of near 4,000 contracts.

Chicago wheat for July 2007 is up 6 ¼ cents at 517 cents per bushel.

Chicago wheat for December 2007 is up 7 cents at 543 cents per bushel.

Chicago corn for July 2007 is up 8 cents at 390 ¼ cents per bushel.

Winnipeg canola for November 2007 is up $1.90 at $405.10 Canadian per tonne.

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

$225.00 – Newcastle
$221.00 – Port Kembla
$220.00 – Geelong
$213.00 – Portland
$211.00 – Port Adelaide
$197.00 – Port Lincoln
$218.00 – Fremantle
$200.00 – Geraldton

AWB’s 07/08 canola price is unchanged today at $481 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.