US wheat futures closed the session higher after finding technical support during the day. Week on week the December soft red winter wheat contract at Chicago did slip 8.5c/bu (AUD$4.30). US export sales were unimpressive but within trade expectations so offered little more than confirmation the US is still...

A greatly over sold Chicago soybean market weighed on US grain futures last night. Soybeans saw the second softer close since November 3rd. Technically soybeans may come under short term pressure but fundamentally there remains good global support for US soybeans and the by-products. Selling in beans dragged both...

There was some profit taking in the wheat and corn pit after yesterday’s rally at Chicago. Soybeans managed to hold onto gains and add some more. The ICE canola market was closed in observation of Remembrance Day, so no canola data from there this morning but the Paris exchange...

The November USDA WASDE report was out last night and if anything it could be viewed as positive for wheat. World production was marginally higher at 772.38mt, yes that’s big but it’s smaller than many had expected to see. The carry-over stocks were reduced 1mt to 320.45mt. Looking through...

At Chicago the row crops were a smidge firmer while wheat was a tad lower. The punters appear to be waiting to see if tonight’s WASDE report holds any surprises. Pre report guesses are pretty much in agreement that the Aussie wheat crop will get additional tonnage but no...

As of the 6th of November China included a few more Australian commodities on the banned imports list, these include, but are not limited to wine, lobsters, sugar, coal, timber and copper ore and copper concentrates. Some media reports even include wool. The advice to Chinese importers to stay...

Chicago soybean futures had another good night closing 22.75c/bu higher on the nearby with both the Nov and Jan21 contract now over 1100c/bu. The move in beans rolled through to both the ICE canola market and the Paris rapeseed futures contract. The stronger AUD will take some of the...

Indian chickpea values, although softening, are still paying a premium for N/D/J delivery versus March +. The NCDEX futures contract actually shows a discount of about AUD$75 – $80 per tonne for nearby versus March. This does tend to indicated that a marketing program more focused on the short...

Both Paris rapeseed futures and ICE canola futures followed Chicago soybean futures higher last night. The higher AUD may counter local gains a little but hopefully the trade will use this opportunity to stop eroding local basis…… lol, who am I kidding. Tunisia picked up wheat and barley in...

There are a few good tenders out this week which should see some active offers out of the Black Sea. Turkey is looking for 550kt of milling wheat for Nov / Dec, Tunisia is looking for 50kt of wheat and 50kt of barley, Syria is in for 150kt of...