In international news Algeria picked up 630kt of Feb / March milling wheat at an average price of about US$313 / tonne C&F. Algerian tender results are not public but trade guesses on supply and value are usually pretty close. The bulk of supply will come from the EU,...

I’m going to deviate a little today onto something that’s, well, interesting. I’m not sure how many of you know what Reddit is but it is basically an multi forum online hosting facility. People start a group, name it something catchy, others join that group and so on. There’s...

In Canada, SW Saskatchewan, cash bids for canola and all grades of spring wheat were higher. Canola put on C$23.57 for a March lift while spring wheat was C$5.88 higher for the 13.5% product and C$5.52 higher for the 11.5% product. Durum values were a little firmer at C$308.56...

Old crop wheat and corn futures at Chicago were generally flat to lower in overnight trade. Corn a smidge higher, wheat a smidge lower. Soybeans where a smidge higher on the old crop while new crop were a touch lower, nothing really convincing in either direction. The big mover...

Weaker US soybean futures at Chicago set the path for global oilseed values overnight. Declines were noted in the ICE canola contract and the Paris rapeseed contract. Locally the trade did not follow yesterday’s decline in ICE canola futures dollar for dollar, thus we saw some improvement in basis....

Chicago soybean futures were back 31c/bu on the nearby contract overnight. Profit taking kicked off early with their overnight session seeing some downside before the trend carried over into the main day session.  A quick look at the stochastic chart shows there is still plenty potential downside left in...

The US celebrated Martin Luther King Day with a public holiday on Monday. Scrolling through the market reports there’s nothing jumping out as majorly bullish or bearish. The Russian export tax is the main story. The increase in Russian offer values seems to have resulted in Turkey pulling a...

In the US, Chicago soybeans and corn took a well-earned breather, while wheat futures managed to find some more upside on the back of the Russian export tax position. US farmers remain annoyed at the extent the cash market has not reflected the recent rally in futures. It appears...

The International Grains Council, IGC, joined the list of analyst calling for smaller ending stocks for corn. This revived the rally in Chicago corn futures and at one stage had the May contract trading at 540c/bu. This might not sound that impressive but US corn futures, for the nearby,...

US wheat futures were mixed, soft red winter wheat at Chicago was back a little while hard red winter wheat was a touch firmer, as was spring wheat at the Minneapolis Grain Exchange. Cash bids for US hard and spring wheat out of the Pacific North West were generally...