Daily Market Comment - 7/09/07

Friday, September 07, 2007

The market closed lower overnight with a weakness in Europe sparking a sell off after posting new highs. It is thought these new all time highs and a lower close could attract some selling pressure.

Chicago wheat for December 2007 is down 11 ½ cents to 824 cents per bushel.

Chicago corn for December 2007 is down 6 ½ cents to 339 ¼ cents per bushel.

Winnipeg canola for November 2007 is up $6.20 to $418.20 Canadian per tonne.

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

$378.00 – Newcastle
$378.00 – Port Kembla
$368.00 – Geelong
$363.00 – Portland
$373.00 – Brisbane
$320.00 – Gladstone
$358.00 – Port Adelaide
$334.00 – Port Lincoln
AWB’s 07/08 canola price is unchanged today at $560 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.