The lower condition ratings for corn, soybeans and sorghum in the US fuelled further speculative buying in US futures overnight. The Platts Australian Wheat futures contract at Chicago was sharply higher for the Jan21 slot, jumping US$13 / tonne to US$248 FOB. This would equate to a number of...

Wheat futures in the US were torn between the bearish news out of Canada and the lower than expected weekend rainfall across the US corn belt. Statistics Canada came out with an all wheat estimate of 35,739,800 tonnes, up 11% on last year. Both better yields and more acres...

US wheat futures took a breather overnight slipping a few cents a bushel in the December SRWW contract at Chicago. Since the 10th of August the SRWW futures contract has trended higher with just 4 lower closes during that time frame, putting on 48c/bu (about AUD$24/t). During the same...

Indian chickpea values have pushed higher this week with the outer months firming by over AUD$30 / tonne. The Indian government continues to put in place supply / support programs during the COVID19 pandemic. These programs include supplying 1.5mt of chickpeas to both the community and the migrant work...

As is often the case in a drought year cold conditions are now hurting wheat production prospects in Argentina. Although much of the crop is still not far enough advanced to be a concern recent temperatures, some 6C lower than average, have been reported. This has caused irreversible damage...

The US weather map offers a mixed bag for the punters. The corn belt is expected to see a little rain while the Gulf states will see heavy rain around the mouth of the Mississippi and north across where roughly 20-30% of the US cotton crop is produced. According...

US wheat futures were firmer, partly helped by better corn futures and partly by further technical buying from the punters. There is speculation US wheat exports will pick up as we move away from the harvest period and the US dollar remains a little lower than it has been...

The question canola growers are asking themselves is “where does canola or rapeseed price itself out of the ration”. Currently we see canola markets well supported by good European demand and lower production across much of Europe and Canada. Although China is not taking much canola seed from Canada...

Algeria picked up 560kt of optional origin wheat this week. The price is estimated at US$231 – US$232 per tonne C&F. Speculation has supply still coming from the EU but not 100% from France as usual thanks to a smaller French crop in 2020. The punters are backing the...

Soft red winter wheat futures at Chicago suffered under a session of profit taking and technical selling after a jump above 500c/bu on Tuesday. 500c continues to look like the level of resistance in the short to mid-term, triggering selling when breached. The December wheat contract was pretty much...