Prices 22/2/19

US grain futures were firmer overnight, except the CME Aussie FOB wheat contract that was US$7.75 lower for the March slot. Obviously there is a bit of a liquidity issue with the contract. With open interest of just 720 contract, 100 less than a couple of days ago. It...
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Prices 21/2/19

US wheat futures were under the pump again last night shedding value across all months on all three contracts. The biggest moves were on the closer by, old crop contracts, but weakness has now spread into the new crop as carryover stocks will become an issue in the US...
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Prices 20/2/19

US wheat futures were hit pretty hard overnight as yet another week of poor US export inspections start to confirm that the slowdown in Russian exports did not automatically convert to US boats being loaded. The punters were expecting to see 500-600kt loaded but instead they were given 357kt...
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Prices 19/2/19

Another holiday in the USA, Presidents Day this time, saw the US markets closed so no new settlement values from ICE or CME futures markets this morning. ABARES has come out with a revised Australian wheat number of 17.3mt, 340kt higher than their last estimate. Reductions in NSW and...
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Prices 18/2/19

In the US we see corn flat, wheat generally drifted lower while soybean futures rallied a few cents a bushel. It still amazes me how a product like corn at Chicago can see a daily volume of 193,483 contracts, that’s 24mt, trade a 1.75c/bu range in a day and...
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Prices 15/2/19

US wheat futures were hit pretty hard overnight shedding around AUD$8.00 on the nearby soft red wheat contract. Corn and soybeans were also lower. Interesting to note the Platts CME FOB Aussie wheat contract was US$1.50 higher on the March slot at US$284.75 as the closing price, some US$10...
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Prices 14/2/19

US markets basically took a breather overnight, adjusting positions and squaring after the previous sessions rally. There’s not a lot driving international markets at present, it is the middle of winter after all. Production data for old crops is pretty much a known unless we see the USDA continue...
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Prices 13/2/19

US soybean futures were the big mover overnight. Caught up in technical trade but also spurred on by a reduction in the Brazilian crop soybean futures closed AUD$6.50 / tonne higher on the nearby contract. Historical adjustments in last Friday night’s USDA data dump also saw S.American carryover reduced...
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Prices 12/2/19

In the US grain futures were mixed, wheat closed the session flat to firmer while corn slipped a little and soybeans were softer to the tune of about AUD$5.00 / tonne. The weakness in soybeans spilled across into ICE canola futures and Paris rapeseed both closing lower on the...
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The USDA data was uninspiring to many. Some interesting points included the lowest sown US winter wheat area in 110 years, now we just need them to produce 110 year old yields off that area to help reduce ending stocks. The USDA pegged sown winter wheat area in the...
Read More: 11/2/19