Another month, another USDA World Ag Supply and Demand report. Firstly, the boring stuff, the wheat market, generally the report appears a little bearish wheat if anything. Global production is a smidge higher, up 4.32mt to 783.92mt. Beginning stocks were reduced a little and consumptions was increased a little,...

A nice rally at Chicago last night has seen wheat close the week up $20 – $30. US wheat futures initially moved higher, fuelled by continued speculation around Black Sea supply and access. This triggered speculative buying resulting in SRWW futures gaining some 5% by the close. US futures...

International grain futures were generally lower last night. Paris milling wheat in the Dec slot shed E3.50, closing at E325.25. At Chicago both HRWW and SRWW futures were lower. Minneapolis hung on well but closed in the red. Cash values out of the US Pacific North West were mixed,...

Wheat futures at Chicago and Paris moved higher on the back of talk that the Black Sea grain corridor may be closed after the agreement termination date is reached in late November. All three US wheat grades had double digit gains in the December contract. Paris milling wheat also...

The USDA released the weekly US crop condition report last night. Corn remained at 54% G/E, the same as last week but with 1% falling from excellent to good. Soybeans saw a similar change with G/E rated the same week on week at 57%. Cotton found a 1% increase...

Iraq picked up 100kt of US wheat for October shipment over the weekend.  The price was huge, some say the US hard red winter wheat was priced at US$494 CiF. Iraq is expected to purchase around 4.5 to 5mt of wheat this marketing year. A slight increase as they...

US markets will be closed on Monday for the annual Labor Day holiday. Overnight Chicago corn, wheat and soybeans all closed higher, bouncing off yesterday’s lows. Strength in soybeans rolled through to both the Paris rapeseed contract and the Winnipeg ICE canola contract. Cash prices across SE Saskatchewan for...

US wheat futures took direction from the obvious fundamentals developing around the world and fell sharply. A huge Russian wheat crop, talk of a global recession and a stronger US dollar all very bearish factors today. Back in 2019 the world was on the brink of a major recession....

Warmer, dry weather will allow much of the US plains to get started with harvest or finish up for those that have been going for a while. Spring wheat is coming off as far north as the Canadian border now and parts of the Saskatchewan durum belt have also...

All three milling wheat futures contracts in the USA were lower in overnight trade, the SRWW contract at Chicago leading the way. Technically the wheat contract was due for a little profit taking and this coincided with thoughts that the world may be heading towards an economic slowdown……. Sherlock...