Pakistan received offers for 656kt in their tender, lowest price was US$348.83/t and the highest was US$369.95 C&F. Let’s call the average US$350 for the sake of the comparison exercise. I’ve attached a international map showing FOB origin values, ocean rates and C&F values. The exercise is pretty crude...

The Algerian tender is the main focus point for a lot of punters at present. As mentioned yesterday, the value of US$320 C&F +/-, was around US$30.00 higher than the previous tender. There is speculation that this was to counter some of the extra execution cost from the Black...

International wheat markets may find support from a couple of large tenders. Pakistan are in for 750kt according to some analyst, the official number appears to be 300kt. Looking at the way the government is trying to distribute what wheat it has access to maybe indicating that the 750kt...

The USDA weekly crop progress report has around 8% of the US corn crop harvested. The corn crop condition was rated at 44/13=57% G/E versus 42/14=56% G/E last week. In Friday nights USDA WASDE, the average US corn yield was reduced month on month to 178.5bu/ac (11.203t/ha), although lower...

The USDA put out their September World Ag Supply and Demand Estimates report last night. I’ll have a quick look at wheat and see if the market move lower is justified from this data. The first thing we see is an increase in world production of 3.13mt, and an...

I’ve attached 2 charts to look at this morning. I like to convert international values to a common point to make a fair comparison to local values. I’ve taken international wheat values C&F east Asia and converted those values back to a rough XF LPP comparable price. There are...

We have a USDA World Ag Supply and Demand Estimates report due out tomorrow night, US Sept 11th. This will probably result in speculative liquidation and positioning leading up to the report. Wheat has seen a significant amount of volatility over the last couple of weeks as the punters...

The Black Sea issues have dominated the markets for a long time. Recent escalation has seen port infrastructure for both Russia and Ukraine destroyed and both sides have sunk ships transporting goods. The weather doesn’t make great headlines unless it can confirm climate change, or a possible natural disaster...

International news is a little thin this morning with the USA having a public holiday. EU grain and oilseed futures all closed in the green. London feed wheat was up £2.00/t in the January slot, Paris milling wheat was up €3.25/t in the December slot, Paris corn up €0.50/t...

The main driver in US wheat futures continues to be the lack of supply from Russia and Ukraine. Over night there were analyst reports that stated that if the fighting continued through to at least the end of the year, and current port and shipping issues continued, it could...