The firmer AUD will take away some the inroads made by world wheat values last night. At Chicago SRWW rallied an unconvincing 8.25c/bu, or AUD$4.65. Unfortunately the rally in the AUD is the equivalent to -AUD$1.87, netting a plausible gain of AUD$2.78 in that market in our terms. This...

There’s a lot of adjustments to digest in the February USDA World Ag Supply and Demand Report. As usual I’ll concentrate on wheat. Initially the numbers start well, a slight reduction in world carry in after adjustments to last years data. World production was increased as most of the...

Durum markets remain as hard to pick as always. It’s no wonder we often hear wheat and sorghum traders telling us they have no interest in participating in the durum market. The Tunisia tender appears to have been shown durum wheat from Russia that has been located in Italy,...

It was basically a night of technical trade prior to Thursday nights USDA World Ag Supply and Demand Estimates report. Nothing ran away, soybeans were a little stronger as some of the shorts were covered. That rolled through to a mixed market in canola and rapeseed. Paris rapeseed firmed...

Most punters were blaming the stronger US dollar for the weaker close for Chicago wheat. It didn’t seem to worry soybeans much though, the nearby contract for beans closing 7.75c/bu higher. Wheat found no love, SRWW back 9.5c/bu (AUD$5.38/t) while HRWW was back 11c/bu (AUD$6.23). The weaker AUD did...

Weakness in US soybean futures at Chicago weighed on the market. Beans slipped 14.75c/bu (AUD$8.31) on the nearby contract. This didn’t help corn or wheat. Wheat futures did fare a little better, gaining back some ground in the premium grades while soft red winter wheat futures were a smidge...

US weekly net wheat sales were reported by the USDA at 322.5kt, a little lower than both last week and the 4 week average. This didn’t help wheat futures in the US and won’t help us as much as the 0.63% reduction in the AUD against the greenback will....

International grain futures were broadly flat to lower. Corn and soybeans at Chicago managed to stay in the green while wheat in the US, across all three futures contracts, was lower, handing back yesterday’s gains. The Winnipeg canola market managed to slip lower, against the flow in beans. Paris...

S.Korea confirmed the purchase of 86.2kt of US milling wheat yesterday. There is talk the sale also included 50kt of Aussie milling wheat. The first US consignment was a mixed consignment of 12.2kt of soft white wheat @ US$244.03 / tonne FOB, 11.5kt of HRWW @ US$273.45 and 12.5kt...

Losses in Chicago soybean futures were reflected, and some, in both Paris rapeseed futures and ICE canola futures at Winnipeg. Paris shed E12.50 per tonne on the nearby contract, Winnipeg C15.50. When converting these losses to AUD / tonne and taking daily variances in cross currency rates into account...