The USDA weekly crop progress report was out last night. The US corn crop is estimated at 23% harvested. Corn condition rating was adjusted a little but the same net result in the G/E rating, last week 44/9 – 53% G/E, this week 43/10 – 53% G/E. US soybeans...

Both spring wheat and hard red winter wheat futures in the US continue to fall. Pressure on these two grades is coming from not only slow demand due to higher prices that were expected to ration demand, but also from the stronger USD this week. Although weekly US wheat...

International sentiment was mixed, no news to exactly explain the sharp sell off in higher grade US wheat. Egypt confirmed the purchase of 170kt of milling wheat from Bulgaria and Romania.               The tender saw some Russian wheat offered at US$270 FOB Black...

There is talk the Canadian government may block the planned merger between grain giants Bunge and Viterra (Glencore). The combined entity would be worth an estimated US$34Bn and would create an entity rivaling ADM and Cargill in the region. Both Viterra and Bunge hold rail and port facilities. The...

There were rumours yesterday that Turkey was about to ban the export of durum wheat. This comes after a very aggressive selling period after a record crop was produced in eastern Turkey this year. Turkey, if able to export what they are currently projected to, could become the worlds...

There was little change in US and EU wheat futures overnight. Paris milling wheat in the Dec23 slot actually closing unchanged at E235.75. Winnipeg canola futures continued to come under some harvest pressure, futures values slipping C$3.50 in the Jan24 slot. Cash bids out of SE Saskatchewan for canola...

US grain futures found pressure from harvest in corn and soybeans as well as a firmer US dollar. Fundamentally world cash values were more or less flat with Algeria and Egypt picking up wheat this week at around US$270-5 C&F, pretty much where values were last week. Paris milling...

With around 80% harvested and 84mt of the Russian wheat crop in the bin, the USDA estimate at 85mt is looking a little low. The September WASDE estimate was 85mt. As far out as the USDA estimate sounds the trade appear to have factored a larger estimate of 91mt...

Domestic wheat prices in Russia continue to fall. This is mostly due to ample production, recent estimates have the Russian crop now around 91mt as opposed to the latest USDA estimate of just 85mt. The other problem is logistics, exports are expected to top out at 49mt. Port capability...

Wheat futures in the US and Paris closed in the green. The slightly weaker AUD helps the conversion a little, the move in Chicago worth roughly AUD$6.48 per tonne. Paris was a little more subdued, milling wheat there closer up E1.50 per tonne (AUD$2.48). The rally in Chicago wheat...