US wheat futures were mixed, SRWW and spring wheat were softer at the exchanges and the PNW, while HRW was higher at the exchange and out of the PNW. The punters are backing a little winter kill in the US. Kansas hasn’t got a lot of snow cover to...

The rally in US wheat futures and Paris rapeseed are the two major moves overnight. Paris rapeseed pushed higher, the nearby contract at one stage reaching a high of E577 before settling at E572.75, a nice E16.50 rally in the Feb 23 slot. In Aussie dollar terms this is...

Winnipeg canola futures found some support from a rebound in Chicago soybean futures. CME beans closed +17.75c/bu on the nearby, about AUD$9.80 per tonne. By the close ICE canola was up C$6.00 on the January slot. The stronger finish was not reflected in the Paris rapeseed contract. Paris closed...

International grain markets continue to worry about the potential of a global recession and the impact a recession will have on demand. This is tending to force those on the fence to be more bearish than bullish. Fund and tech shorts continue to be the most favourable position at...

The AUD moved lower again overnight, a little lower against the USD, but sharply lower against others, like the Yen and Canadian dollar. This may help counter any downward pressure in local values if they choose to reflect the downward pressure from the US markets on Monday. The soft...

Some bargain hunting in the US wheat market was said to stimulate weekly export sales which amounted to about 468kt last week. This beat trade expectations and fuelled some technical trade, resulting in some upside in both SRWW and HRWW futures at Chicago. Cash values out of the US...

Temperatures continue to be very hot across much of Argentina. The NW seeing the mercury well into the 40’s. 14-day precipitation across that region was about 25 – 40mm, we all know what evaporation rates are like with 40C temps. Towards the SE across the Pampas 14 day rainfall...

US corn and wheat futures were generally sideways overnight. Kansas and Minneapolis wheat found some upside, SRWW futures at Chicago were a little lower. The AUD will spoil the conversion today. A sharply higher AUD more than likely to counter any upside in the wheat futures markets in the...

Chicago wheat and corn futures enjoyed some upside last night. Soybean futures were hit hard with news Covid cases in China are climbing quickly. The markets continue to struggle with large case numbers, these case numbers are generally not equating to deaths and less mouths to feed. This has...

The USDA December World Ag Supply and Demand report hit the wires last night. Looking at the projected 2022-23 world wheat carry in and production we see carry in back a smidge to 276.27mt. We see world production is reduced 2.09mt to 780.59mt, imports are higher, domestic consumption lower,...