Prices 31/8/18

Well Wednesday’s gains in US wheat futures proved to be a dead cat bounce. This term always amused me, apparently a dead cat may bounce when thrown from a high point but it doesn’t actually get up and run away. The rally was based on concern Russia would implement...
Read More: Prices 31/8/18

Prices 30/8/18

Fundamentally there is no fresh news justifying the significant jump in both US and EU wheat futures overnight. If you believe the market wires the rally appears to have been based off speculation that Russia will curb wheat exports after a less than perfect harvest this year. Yes, that’s...
Read More: Prices 30/8/18

Prices 29/8/18

The international markets continue to see mixed signals for wheat values. We have Russian milling wheat values into Egypt continuing to fall away and we have EU yields being cut further. Egypt picked up Black Sea wheat at an average price of about US$241 per tonne, about US$9.00 less...
Read More: Prices 29/8/18

Prices 28/8/18

US grain futures continue to see fund money being withdrawn for greener fields. The US share market responded positively to news the Trump administration had struck a trade deal with Mexico. The modified NAFTA agreement thus far continues to exclude Canada. According to Trump negotiations with Trudeau will commence...
Read More: Prices 28/8/18

Prices 27/8/18

US wheat futures continued to fall, the stronger AUD isn’t going to help the situation come Monday either. Looking at new crop canola at the ICE we see the move in futures is a +AUD$0.63 while the move in currency is worth -AUD$3.84. In the US the wheat harvest...
Read More: Prices 27/8/18

Prices 24/8/18

Soybean slipping further and a stronger US dollar all contributed to a poor performance in wheat futures at Chicago.  US weekly export sales were not very impressive either with just 240kt of wheat sales made. The punters had pencilled in orders for about 650kt so the 240kt number really...
Read More: Prices 24/8/18

Prices 23/8/18

Germany announced their drought aid packed to farmers yesterday on the back of news that Germany will not produce enough grain to be self sufficient this year. The package consisted of non-repayable cash grants to producers that qualified and could prove that the drought there had reduced crops by...
Read More: Prices 23/8/18

Prices 22/8/18

US and European wheat futures closed lower again overnight. The last two session has seen 32c/bu (AUD$16) peeled off December 2018 CBOT soft wheat futures. Technically this is pushing wheat into a very oversold position. The punters are holding more short than long contracts. Harvest in the northern hemisphere...
Read More: Prices 22/8/18

Prices 21/8/18

The US punters took the rumour based rally of Friday night as a good opportunity to sell, maybe it was simply a matter of someone talking their book in order to profit, how unlike the grain industry. Chicago and Paris wheat futures both found some downside on the back...
Read More: Prices 21/8/18

Prices 20/8/18

US wheat futures surged higher in overnight trade as rumours that Russia is going to limit annual wheat exports to 30mt circulated. This represents a 5mt reduction on the current 18/19 export projection of 35mt which Russian officials are still suggesting will stay intact. Russia finds itself in a...
Read More: Prices 20/8/18