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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.

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