I was reading about Saudi Arabia buying 1.353mt of wheat just prior to retiring last night. I said to myself, ” self, that’s got to be bullish wheat, it’s double what they said they were going to buy”. So yeah, Chicago wheat futures fell again last night, Paris milling...

All the headlines for the local economy read like something from a Stephen King novel this morning. Do we sit back and wait for Michele Bullock to chop the bedroom door in with an axe, peering through, screaming “I’m back” while slashing interest rates…….. I sure do hope so…....

US wheat futures, and cash values out of the Pacific Northwest, were firmer in overnight trade as the December contract at Chicago went off the board. The USDA confirmed weekly wheat sales of 1.49mt were made for the week ended Dec 7th. Soybeans sales were 1.08mt and corn a...

US weekly wheat export sales for the week ending Dec7th will be released overnight. According to the pre report trade estimates, which vary between 1.2mt and 1.6mt, if correct, would be the largest weekly sales number for wheat since 2013, possibly earlier. Taking this into account, obviously we see...

International markets were basically a reversal of the previous session. Wheat and corn finding support at Chicago, Minneapolis, London and Paris, while the oilseeds stumbled. Paris rapeseed Feb24 slipping E6.75 / tonne and Winnipeg canola falling C$9.80 on the nearby Jan24 slot. Chicago soybeans fell 12.25c/bu on the nearby....

US wheat futures were hit hard last night. Hard red winter wheat futures at Chicago shedding over 28c/bu in the March contract. The USDA report really was a buy the rumour / sell the fact report. The weight on wheat appears to be world stocks, although lower month on...

The December USDA World Ag Supply and Demand Estimates report was out last night. The WASDE is starting to get a bit like eating Maccas. It happens about once a month and you often think it’ll be better than it really is, only to be disappointed by the, often...

Am I watching the same trade “play book” being used in Argentina as I am here? Wheat values there have fallen since harvest started. Conditions there were poor for wheat production this year. Not a full drought crop, but not unlike the conditions experienced across NNSW and QLD. The...

Paris and Winnipeg rapeseed / canola futures were hit pretty hard last night. The Paris contract, that the local markets here have generally been tracking a little more closely than the Canadian market, was back E8.75 on the nearby February contract. In day to day AUD terms this equates...

The Algerian tender for 50kt of durum was completed earlier this week. Algeria do not make public their tender results. The trade usually speculate on both value and actual tonnage booked over the following days once the tender closes. This tender is no different. Initial reports had just 50kt...