The headlines get a little over the top these days. The first one I read this morning was “scorching weather fails to heat up grain prices”. US centric obviously. I remember in the past hot weather wasn’t even rated unless it sat in the low 40c for a week...

Delhi chickpeas were firmer again, up 8Rs/Q, but the stronger AUD made short work of such a small move. Compared to yesterdays conversion to AUD / t, Delhi chickpeas are roughly AUD$5.28 / tonne lower this morning. There’s still a large degree of speculation over both Indian chickpea production...

US, Canadian and Russian wheat values were generally lower last night. Cash prices from all three major exporters across most grades shed value. In the US and Canada the fall in cash values tracked similar moves lower in the futures markets. Spring wheat out of the Pacific Northwest slipped...

The international wheat market seems to be trying to set a seasonal low. With buyers like Algeria picking up over 1mt of wheat during the week it may be signalling that the demand side are sensing the seasonal low is close, or in, and it’s time to put the...

I’ve rolled most of my price indicators to reflect the new wheat crop. Things like basis and international cash price comparisons for barley, wheat and canola will tend to reflect new crop comparisons unless stated otherwise. Sorghum comparison and index values will continue to reflect nearby plus one or...

World cash wheat values are generally a little lower this morning. Russian FOB values leading the way, their day to day conversion comparison into the Asian market is back roughly AUD$12.23 / tonne. This not only makes Russian wheat very competitive against US wheat, which up until recently had...

Bangladesh saw offers ranging between US$268.90 and US$288 CiF for the supply of 50kt of 12.5% milling wheat. On the back of an envelope this is roughly equivalent to about AUD$308 to AUD$338 ex farm LPP. Currently we see this grade of milling wheat bid at AUD$315 to AUD$320...

The weekly US crop progress report was out last night. 7% of the US corn crop has reached the dough, Texas leading the way at 69%. Texas continued to be in the news for all the wrong reasons, flooding once again taking lives. The west Texas 14 day rainfall...

Spring wheat was hit hard in overnight trade, both cash and futures shedding significant value. The average cash bid for 1CWRS13.5 wheat out of SE Saskatchewan for a December lift was CAD$265.25 / tonne according to PDQ, down CAD$8.30 / tonne from the previous day. Minneapolis spring wheat futures...

International cash values and futures for wheat were generally a little higher in native currency overnight. The moves look more speculative than fundamentally driven. There’s a monthly USDA World Ag Supply and Demand Estimates (WASDE) report due out tonight. This is more likely the usual positioning prior to a...