The 2.25% decline in the AUD against the Indian Rupee is probably not the biggest thing to happen in the grains industry overnight, but it’s a thing worth looking at. The Delhi mandi price was relatively stable overnight. The average price by the close was roughly 5949Rs/Q, up just...

I don’t know how small a US wheat crop needs to be, or how dry it needs to be in France, or how many bombs Ukraine and Russia needs to exchange, to sustain a wheat rally, but if obviously has to be much worse than what we are seeing...

US futures markets were lower across the board, corn, wheat and soybeans at Chicago all shed value by the close. Across the Atlantic the EU exchanges were all green, London wheat higher, Paris milling wheat higher, Paris corn higher, all by good margins. Paris rapeseed was E7.50/t higher nearby...

The USA had a day off to celebrate the abolition of slavery. Turning our attention to alternative futures markets we see that the Paris milling wheat contract was down €2.00 in the September slot and –€1.50 in the Dec slot. London feed wheat futures were £0.85/t lower across the...

Chicago SRWW wheat July open interest is back roughly 1.9mt on yesterdays close, wheat off 7c/bu. Volume on the day was about 5.8mt. There’s still a bit of work to do by the funds before first notice day for teh July slot, but it does appear to be an...

Short covering of June contracts in the Chicago wheat pit saw some upside in US futures last night. One does ponder if there is no fundamental strength in the wheat market. The US wheat crop is the smallest in years. France has seen below average rainfall all year but...

US sorghum values found support from very good export numbers to China. All but 612t of total sales when to China. The US shipped 313,614 tonnes of sorghum for the week ending June 11th. 168,997 tonnes moving out of the Gulf ports, and 138,593 moving out of Pacific ports....

The June 15th US crop progress report shows corn at 94% emerged. Over the last 7 days the US corn belt as seen some very good rain with parts of Iowa, Illinois and Missouri seeing 75mm to 100mm. General rain across the balance of the corn belt was between...

This weeks WASDE reduced US winter wheat production further. Hard red winter wheat is now at it’s lowest production number since 1957. What else would the US futures market do, well sell off lower of course. Soft red winter wheat, hard red winter wheat and spring wheat futures in...

I was reading a post from Andrey Sizov from SovEcon yesterday. It was a view on the US futures market. Not riddled with predictions, but simply stated. “I keep getting asked: why is wheat down so hard? Valid question. The list of reasons is long – and so is...