US weekly wheat export sales came in within the higher side of the trade expectations. At 542kt the number found a little support at Chicago with SRWW futures flattening out but little could be done to stem the losses in the HRWW contract. This all appears a little ironic as the split for the weekly sales came in with 216kt of spring wheat, the futures of which also sold off last night, HRWW with 157kt and white wheat at 112kt, no SRWW at all.
Tunisia confirmed the purchase of 117kt of milling wheat at an average price of US$229, four dollars less than their previous tender result. There was also a couple of boat loads of fed barley booked at US$200.28 per tonne, this was also lower than their previous purchase. Looking at the barley value it would equate to a number roughly equivalent to AUD$60 less than current up country values in South Australia.

Just when you thought the world was crazy enough along comes a cold and the world sneezes their brains out their nose. It’s probably something we need to take notice of, as is the annual round of the flu but so many reports I read are just amazing me. I really do think we’ll see a whole new contract get developed after this is done. The “act of god clause”, the “force majeure” is being utilised by many suppliers and buyers to back out of existing contracts. The inability of the media to concentrate on more important issues like the cash ban proposal by government really leaves one to ponder if we don’t need a real plague.