US wheat opened sharply lower overnight then rallied in the afternoon session to close the day slightly higher. This was on the back of weakness in corn and crude oil markets. Strength in the Australian dollar will provide underlying pressure to Aussie wheat prices.

Chicago wheat for December 2008 is down 13 cents at 806 ¾ cents per bushel.

Chicago corn for December 2008 is down 1 ¾ cents at 590 ½ cents per bushel.

Winnipeg canola for November 2008 is down $11.90 cents to $600.40 Canadian a tonne.

AWB’s Multi grade contract price (based on APW1 flat priced) for the 08/09 season are unchanged at:               

• $307.00 – Newcastle
• $307.00 – Port Kembla          
• $307.00 – Geelong 
• $297.00 – Portland 
• $307.00 – Brisbane
• $289.00 – Gladstone
• $292.00 – Port Adelaide
• $292.00 – Port Lincoln

AWB’s 08/09 canola price today is down $8 at $654.00 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.