Prices 25/1/18

Looking around this morning it’s a little like US markets on one side and the rest of the world markets on the other side. It’s probably not that bad but the weaker greenback certainly helped US grain markets overnight. Soft wheat at Chicago was up AUD$5.23 per tonne but...
Read More: Prices 25/1/18

Prices 24/1/18

Sorghum FOB New Orleans was offered at US$205.30 for March transfer late last week. Destined to China this would cost roughly US$44 per tonne in a Panamax vessel (57kt). So the back of the envelope calculation would land US sorghum in China at about US$249. The ocean rate from...
Read More: Prices 24/1/18

Prices 23/1/18

Chickpeas continue to be extremely volatile. Over the weekend there was talk of Narrabri packer bids as high as $660, yesterday we saw bids for the No1 grade at $640 delivered Narrabri and less into many other locations. Could the fact be that we are simply seeing the trade...
Read More: Prices 23/1/18

Prices 22/1/18

With US weekly corn sales at 1.88mt, more than double the highest trade estimate, it was surprising to see futures only move 1c/bu. Some weather delays in the second crop sowing in Brazil should have also been supportive. US soybean sales were also better than expected at 1.24mt, double...
Read More: Prices 22/1/18

Prices 19/01/18

The trend in international markets at the moment is building wheat stocks. Last night Strategie Grains reduced EU exports for this season by 750kt, to a five year low. StratGrain is one of the lowest estimates at present at 21.6mt for EU exports, the IGC are still dreaming at...
Read More: Prices 19/01/18

Prices 17/1/18

US corn and soybean futures closed higher overnight. Corn basically got a leg up from soybeans but also some short covering. Soybeans were firmer on the back of a good US crush number for December. With the higher crush number also comes higher soy oil stocks though which in...
Read More: Prices 17/1/18

Prices 16/1/18

It’s a holiday in the USA, so there’s not much news to prompt the international market this morning. This might be an opportune time to take another look at what is hurting us the most at present, other than the weather. The Aussie dollar continues to firm, topping out...
Read More: Prices 16/1/18

Prices 15/1/18

The USDA World Ag Supply & Demand report was out last night. The winner was soybeans, corn down nothing and US wheat futures, well they were hammered. With the pace of US exports being abysmal at best this was generally expected but let’s have a quick look at the...
Read More: Prices 15/1/18

Prices 11/1/18

The US market is basically in a holding pattern now. With the USDA WASDE report out tomorrow tonight, USDA grain stocks and winter wheat seeding report due out tomorrow tonight, the CONAB report for S.America due out tonight and a public holiday in the US on Monday no one...
Read More: Prices 11/1/18

Prices 10/1/18

Technical trade is dominating the USA grain futures markets prior to this Fridays WASDE report. Squaring up in both the corn and wheat pits saw a little upside overnight while soybeans pushed lower. The canola market held on at Winnipeg and Paris with ICE futures flat and Paris up...
Read More: Prices 10/1/18