The USDA World Ag Supply & Demand report was out last night, it wasn’t pretty for wheat. Most other grains got away relatively unscathed but a sharp increase in world wheat production and carry-over stocks saw US wheat futures retreat. So world wheat production was estimated at 773.43mt (Last...

Egypt picked up 120kt of Russian wheat overnight for shipment in mid-July. This takes Egypt’s international purchases during their own harvest period up to 600kt, leaving another 200kt to buy to meet the 800kt target outlined earlier in the year. The lowest priced vessel came in at US$226.90 FOB...

Hot dry weather is seeing rapid progress in the USA HRW harvest. Headers are active across most of Oklahoma now and not far off from moving into Kansas. The weekly USDA crop progress report showed 19% of the Oklahoma crop is already in the bin. Yield and quality reports...

1CWAD13 durum bids across SW Saskatchewan were up a few dollars for the Jan 2021 slot overnight and basically equate to a port value at Newcastle of around AUD$400 as a guide. Crop quality reports out of the states have the North Dakota durum crop pegged at 84% Good...

Futures in the US reflected a combination of the weaker US dollar and some weather premiums for wheat and better demand for soybeans. US weekly export sales for corn were towards the higher end of the trade estimate and well above the previous week at 764kt. Corn shipments were...

Helping US wheat futures rebound were reports of higher Russian wheat offers out of the Black Sea and confirmation that Russian wheat stocks are at the lowest level since 2013-14. Weekly Russian wheat exports have been falling away over the last 28 days, with last week the slowest week...

Egypt picked up 120kt of wheat, the lowest being of Ukraine origin at US$210 FOB. Freight to Egypt is pencilled in at US$10.40 per tonne making it a delivered port price of roughly US$220.40. In order to compete into that market US wheat would need to be offered at...

China picked up a couple of cargos of US soybeans overnight, this saw a round of buy beans / sell wheat at Chicago. The USDA weekly crop progress report was out after the close. Corn planting is at 93% and emergence at 78%. The corn crop condition rating improved...

Another session of sell soybeans and buy wheat at Chicago. Soybean futures found no love as USA and Chinese relations continue to sour. Corn futures were also weaker by the close. Wheat futures for SRW, HRW and HRSW were all higher by the close. Dry weather across Saskatchewan, the...