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...

Looking around the world this morning there’s no big moves in anything that should have a major impact from a fundamental or cash price perspective. This leaves much of the impact on price today up to variations in local and cross currency exchange. The AUD is at 65.35 as...

With more and more of the northern hemisphere moving through their winter wheat harvest, the market driver for wheat is turning from supply to demand. The next USDA World Ag Supply and Demand Estimates report is due out on August 12th US time. In last months WASDE we saw...

The deterioration in condition of the US wheat crop in last Tuesdays crop progress report is well and truly behind the market now. With the harvest pace picking up it’s all about buy low, sell high, and it’s buying time. Another crop progress report came out after the close...

US futures markets were closed last night. Paris milling wheat futures fell €2.00/tonne in the Dec slot, London feed wheat futures were back £1.15 / tonne in the Jan 26 slot. Cash values around the world were mixed, generally a smidge higher. Black Sea values were up AUD$1.00 to...

US wheat futures gave back a large slice of the weeks gains to date. Not that it may have much of an impact here on local prices. The recent moves have hardly been reflected in new or old crop wheat bids here. Local APW / Chicago SRWW basis was...

US futures for wheat, corn and soybeans all saw some good technical support at Chicago ahead of this weeks US export numbers. Up country bids in the states generally saw weaker basis, the physical market not moving as high as futures. At Chicago wheat was said to be a...