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Grains Market Focus



Australian wheat traders' concerns over heavy rainfall

Grains Market Focus



Australian wheat traders' concerns over heavy rainfall





Commentary and Analysis


September 19, 2016 - Platts assessed APW unchanged at $200/mt FOB WA for cargoes loading in 60-90 days, at a premium of $2/mt above December-January loading cargoes, which were being indicatively offered at $202-$203/mt, while buying indications were heard unchanged in the mid-$190s.


Assessment Rationale


September 19, 2016 - Heavy rain in parts of Australia, especially the east coast, over the weekend, and heavier rainfall this week forecast by the Bureau of Meteorology, raised concerns over excessive moisture, which might affect wheat supply and quality, traders said September 19.


A firmer trend in US wheat futures further bolstered selling sentiment, leading to higher selling indications of around $203/mt FOB WA, or $2-3/mt higher than levels in the week ended September 16. Asian buyers were on the sidelines, with buying ideas unchanged in the mid-$190s/mt amid expectations of plentiful supply globally.


Next commentary: Russian deep sea wheat price lowered on $165/mt Sep-Oct offer


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