Daily Market Comment ( 02/07/2009 )

US Wheat futures have closed lower in overnight trade encouraged by a sell off from funds, which was spurred on by the expanding US winter crop and general bearish outlook.

 Chicago Wheat for December 2009 is down 4 ¼ cents to 561 ½ US cents per bushel.

 Chicago Corn for December 2009 is up 2 cents to 369 ¼  US cents per bushel.

 The Winnipeg canola exchange was closed for the public holiday in Canada.

 AWB’s Multi Grade APW1 contract prices for the 09/10 season are down today at:

• $243 - Brisbane
• $238 – Gladstone
• $253 – Newcastle
• $257 – Port Kembla
• $258 – Geelong
• $250 – Portland
• $258 – Port Adelaide
• $260 – Port Lincoln

 AWB’s 0910 canola price is down today at $509.00 per tonne delivered Geelong.

 All prices are quoted GST exclusive.