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 response. You can see the fund managers at the front door “move along, no, no, nothing to see here”.
I don’t know how much bullish news the futures market can turn a blind eye to, but it’s starting to raise more than a few eyebrows. One response was along the lines of there is plenty of corn in Brazil. Well, that’s awesome, if they actually finish sowing the late crop. By the way have you seen those picture out of Argentina with corn cobs 6″ long with 28 grains on them.

Jordan picked up some feed barley at US$275.50 CFR for Sept. The trade assumes this will be supplied by Russia as per the majority of Jordan purchases of late. On the back of an envelope this would equate to an ex-farm Liverpool Plains price of something close to AUD$240 – AUD$250, so definitely not Aussie barley.
Tunisia picked up 100kt of milling wheat at roughly US$316. Jordan picked up 60kt of wheat at US$309.75, that’s about US$5.00 less than their last tender.

Bit hard to stay focused 100% of grains with everything else going on in the financial world. Word has it the Russians put a hole in a US drone that was in “international” air space. The Black Sea Grain Corridor extended for just 60 days, not the automatic 120 days. Can’t see that helping rates and insurance.