An indication of things to come, possibly. News that Saudi Arabia has purchased 355kt of milling wheat from Saudi Arabian farms owned by the Saudi Agricultural Livestock Investment Company (SALIC) in Australia, Canada and Ukraine for delivery during the second half of 2021 was interesting. In April 2020 SAGO,...

Tunisia picked up 100kt of milling wheat, 92kt of durum wheat and 125kt of feed barley overnight. Delivery for this tender is pencilled in for Mid-March to late April. The durum was said to be purchased at US$384.60 per tonne C&F. Looking at Canadian cash values for 1CWAD13 ex...

The trade had to digest the latest USDA planted acres predictions report last night. A report that appeared a little bearish for corn and soybeans but didn’t hurt wheat at all. Although the USDA predict winter wheat acres to increase by around 5%, to 32mac. The higher acres projected...

US futures markets gave back a large slice of the previous sessions gains. Wheat being the hardest hit. Interesting to note that the CME futures contract for Australian Wheat FOB (Platts) closed up US$1.50 in the April slot at US$289.25. Keep in mind that this contract still remains untraded,...

The weekend cold snap in the US was the main driver of US grain futures overnight. All three wheat grades saw nice gains in the nearby contracts with HRW and SRWW both pushing +20c/bu higher by the end of the session and settlement above the session high. Technically May21...

The USA and Canada had another long weekend so futures market news is thin on the ground unless you look towards the European markets. At Paris milling wheat was up E4.75 on the nearby March 21 contract. May futures were not far behind with a gain of E4.25/t. The...

At Chicago HRW futures found some support from the winter storm pushing through Kansas, Oklahoma and Texas. Looking at some of the weather sites in the US we see places like Salina Kansas will see minimum temperatures drop as low as -24C on Monday morning. Daytime temperatures there will...

At Chicago both corn and soybean futures managed to claw back some of the recent losses while wheat continued lower. The path for US wheat futures in the short term, at least until we get through the next couple of days, is probably sideways. Wheat futures are torn between...

Futures markets in the US were down overnight. Corn and soybeans were sharply lower while wheat was caught up in the selling / profit taking resulting in a lower close on all three US grades of wheat. Some punters are arguing that the USDA data did not reflect the...

Looking at the USDA WASDE report this morning shows a nice reduction in world wheat ending stocks, from 313.19mt in January to 304.22mt. Interesting to see that the world production estimate was actually increased 800kt to 773.44mt. A 9.78mt increase in domestic use seems to be the key to...