The US FED done exactly what the majority of punters had expected them to do, they cut rates by 50pts, the first fall in rates since they printed all that money back in Covid. The next question is, will the local RBA follow their lead on the 24th. Most...

International wheat futures were generally a little lower, although spring wheat futures at Minneapolis did buck the trend, managing to close a smidge higher across all months. Paris milling wheat pushed lower, shedding €1.25 for both the December and March contracts. Both Winnipeg canola and Paris rapeseed were higher,...

Wheat futures at Chicago, Minneapolis, London and Paris all took a hit last night. US hard red winter wheat was the worst off. Futures at Chicago for HRWW falling 19.5c/bu nearby Dec24, AUD$10.61/t at this morning’s exchange rate which is also up 0.71%, not helping the day to day...

Canola was the big loser overnight. Both Winnipeg canola futures and Paris rapeseed futures seeing a significant reduction in new and old crop slots. Chicago beans were lower, but not anything as bad as the canola and rapeseed contracts. Chicago beans shed just 4.75c/bu (AUD$2.60/t) in the Jan 25...

It’s USDA World Ag Supply and Demand Estimates reports time. So I’ll obviously spend the next hour or two pawing through the data, comparing different analyst views in an attempt to predict the future, only to disagree with different aspects of the report, thus rendering it useless in one...

Chicago grain futures were unconvincingly higher in overnight trade. Wheat, corn and soybeans all closing in the green by a few cents per bushel. Spring wheat at Minneapolis was the best of them, closing up 6.5c/bu in the December slot. This close to a WASDE release date one might...

Another higher close in US wheat futures overnight. The slightly weaker AUD will also help the day to day conversion here. It’s not worth a bunch of upside but if we can keep chipping away a dollar or two, or five, a day than we may get back to...

The Russian wheat crop has passed the 70% harvested market. Thus far 71mt of wheat has been harvested, roughly 72% of the area has now had a header over it. The news for the Russian spring wheat area continues to get worse. Another oblast has been placed into a...

US corn, wheat and soybean futures all fell apart last night, the board closing in the sea of red. Soybeans were the biggest looser, shedding 19c/bu in the January slot. This had the expected impact on both Paris rapeseed futures and Winnipeg canola. The later already pretty beaten up...

US wheat futures ran out of steam last night after putting in some good gains over the last 6 sessions. Since the 27th soft red winter wheat futures has gained 52.75c/bu (AUD$28.75/t) nearby and 39.25c/bu (AUD$21.39/t) in the December slot. Hard red winter wheat over the same time frame...