Egypt picked up 240kt of wheat overnight, interesting to see Russian wheat not on the bill. French and Romanian wheat filled the contract, 120kt of each. The French wheat filled the nearby slot at roughly US$279.50 per tonne CiF, Romanian wheat filling the late Oct / early Nov slot...

International canola values were mixed in overnight trade. There were some sharp losses on the Paris exchange. Rapeseed futures for the Feb24 slot slipped E7.75 / tonne. The combination of a stronger AUD and the fall in Paris rapeseed futures equates to a day to day conversion difference of...

With 88% of the US corn crop in dough stage and 51% of the crop dented the USDA are pretty much calling the crop locked in. The G/E rating did slip a little in this weeks report, back from 47/11 last week to 47/9 this week, 2pts lower. After...

Chicago soft red winter wheat futures were the biggest loser last night, shedding 10.75c/bu nearby and 10c in the Dec23 slot. The hard red winter wheat and spring wheat contracts did not reflect this move lower and actually closed a smidge higher. Soybean futures at Chicago were the biggest...

The Pro Farmer corn / soybean crop tour in the USA has been on this week. Focusing more on corn, it appears yields have been mixed, some higher, some lower than expectations, but reading through the pages of field reports it appears, generally speaking, that corn yields are expected...

Egypt picked up 60kt of Romanian wheat as opposed to Russian wheat on Tuesday. This was interesting as the price for the Romanian product, US$256 FOB, was about US$4.00 under the “unofficial” floor price for offers of Russian wheat. With India in talks to acquire between 3 to 4...

The level playing field of international grain marketing. Remember that, it was the reason we disbanded the single desk marketing system. You remember that system, that thing we had to help sell wheat. Apparently it gave Australian growers an unfair advantage because it shared arbitrage, blending, freight and storage...

The Turkish pasta millers are now putting pressure on the government there to limit the durum wheat exports. There’s been talk that Turkey had sold as much as 1mt of grain durum to Italy. Export paper work currently backs up at least 300kt has been booked. Turkey has had...

Wheat futures in the US basically finished the week close to where they started, or a little lower. The Black Sea conflict was used as the catalyst for last night’s rally. Wheat goes up, it’s the Black Sea conflict, wheat goes down, it’s the Black Sea conflict. It’s safe...

US wheat futures found some pressure from technical selling last night. Weekly US wheat export sales were within trade estimates, which were not enough to keep the momentum of the previous session alive. News of a ship leaving Odessa with Ukraine naval assistance my also suggest that the glut...