Australian wheat exports are at about the half way level according to recent reports. Around 3mt of an expected 7mt – 8mt has left the country with the main buyer being the Philippines. News that China bought 40% of a recent 1mt purchase from Australia is also interesting as...

Corn was the overnight winner with Chicago futures moving 6c/bu (AUD$3.50) higher. Granted that’s not much of a win but upside is upside. The general consensus is the bargain hunters were out in force after the recent sell down. Let’s face it at sub 400c/bu corn is cheap. The...

25/1/20 Even some solid export sales numbers out of the USA couldn’t stop the sell-off in wheat futures last night. Posting weekly sales of almost 700kt of old crop and a total of 749kt it was towards the top end of expectations but the weight came from corn. Like...

Chicago corn futures closed 5c/bu higher lending support to wheat values. Soybeans, thus canola and rapeseed, were both lower. The lack of a big Chinese purchase of US product is starting to weigh on soybeans at Chicago. Technically Chicago beans are oversold to buggery so don’t be surprised to...

Algeria picked up about 450kt of wheat in the recent 50kt tender. This isn’t unusual for Algeria. Prices were much higher than their last tender in December with the trade confirming values around US$245 CFR for mid-grade milling wheat. France is expected to pick up the lion’s share as...

In the US corn and soybeans futures were lower while wheat futures in all three grades climbed higher. Soft red winter wheat at Chicago saw impressive gains against the trend in the row crops. Fundamental support for wheat at these levels is a little questionable, especially with weekly export...

The US markets are closed for Martin Luther King day. Temperatures across the US are very cold in the north, down to -35C across the northern parts of  N.Dakota and Minnesota over the weekend. The cold has pushed right down into Kansas where -15C is the current reading at...

There was a nice recovery in US grain futures overnight. The analyst are calling it bargain buying after the sharp losses of the previous session. One can’t help but think that the rally in wheat may limit US export potential. This has been a common thought for a while...

Corn, wheat and soybeans were all lower at Chicago. Corn was hardest hit with the nearby contract shedding 12c/bu (AUD$6.85/t). Volume in the corn pit for the session indicating a number of stop loss orders were probably triggered. The move does point the contract into more neutral ground on...

There’s a lot of international news out overnight. Egypt confirmed they paid about US$4.00 per tonne more for wheat in Tuesday’s tender. Russia toy’s with the idea of wheat export restrictions and there is more trade analysis (WAG) over the US / China trade deal. The big loser in...