Paris rapeseed futures were sharply lower in overnight trade, shedding E12.75 on the nearby contract and E9.75 in the Feb 24 slot. Taking the variation between the AUD / Euro into account this move could represent a change of almost AUD$20 per tonne locally if basis remains unchanged today....

Poland and Romania are asking the EU to track Ukraine road / rail wheat exports more closely. Local farmers in countries joining Ukraine are concerned that the flood of cheap Ukraine grain heading west and south by road is filling local homes and not making it to seaports for...

The jump in US wheat futures will generally be countered by the increase in the value of the AUD against the USD. Hard red wheat out of the US Pacific Northwest was priced on average at roughly 10.16c/bu, US$373.30 per tonne. A rough calculation determining the cost to ship...

Indian weather is creating some concern for the quality and quantity of both the wheat and chickpea crop there. Domestic Indian values have increased, chickpea putting on roughly AUD$18 per tonne when taking movement in the AUD / Rs into account as well. Harvest on what we would call...

US wheat futures rallied higher overnight. Speculative trade on thoughts that Russia may put some form of export restriction on wheat to manipulate prices higher seemed to be the catalyst. The Russian ministry had “suggested” that the export pace of Russian wheat be slowed yesterday. Could it be this...

There’s a lot of talk of the Chicago wheat / corn spread from the technical traders. No one seems to be saying that they think wheat will go higher or corn will go lower but they are saying that the current spread is indicating we may see one of...

Chicago wheat futures pushed lower again overnight. With volume towards the thinner side of expectations punters short soft red winter wheat futures remain in the driving seat. The continued pressure on wheat futures in the US has many analysts perplexed. With a net short position of roughly 200k, or...

The downward trend in Paris rapeseed futures and Winnipeg canola remains firmly intact. Paris rapeseed shed E12.75 / tonne on the nearby contract last night. Taking moves in the AUD / Euro into account the fall equates to AUD$12.17 per tonne. The sharply lower AUD against the Euro is...

The Grain Corridor deal is doing a good job of keeping everyone a little confused if nothing else. Russia is saying that because they objected to the extension for 120 days and suggested that the deal be extended for just 60 days that the deal is indeed up for...

Some more US corn booked by China in another “flash sale”. This time around it’s 677kt, so that’s 1.289mt in two days. Chicago corn futures rolled over and tapped the alarm clock for a non-start, unless you consider a 5.75c/bu (AUD$3.42) higher close in the May slot a worthy...