Funds were net buyers of wheat, corn and soybean futures at Chicago overnight, taking advantage of sharply lower futures after the USDA WASDE reported weighed on the market in the previous session. Immediately after the report was published there were numerous US analyst already calling the estimated average yield...

A few things to look at this morning, these include the Chinese extending their decision to remove or reduce import tariffs on Australian barley. A USDA World Ag Supply and Demand Report and reports that the UN has folded and offered SWIFT access to Russia (in a form) in...

Global wheat futures markets were generally higher overnight. Paris milling wheat joined the push from the US and closed E2.75 higher in the Dec 23 slot. There were also good gains in both the Paris rapeseed and Winnipeg canola futures contracts. The Feb24 Paris rapeseed contract gained E5.75/t. That's...

Chicago soybeans were the surprise in overnight trade, closing 27c/bu (AUD$14.86) higher @ US$1352c/bu (AUD$744.10) in the Jan 24 slot. Soybeans leant support to the oilseed complex resulting in better closes at both Paris for rapeseed futures, and at Winnipeg for canola futures. Taking the move in the AUD...

Harvest pressure in the US capped the wheat futures market there. The HRWW contract at Chicago took it the hardest as it had rallied as much as the spring wheat contract since Monday but is also the grade in the middle of harvest. Spring wheat has a way to...

There’s a saying in the US grain futures market, “the bulls need feeding every day”. This simply means that a rally needs constant bullish news to sustain it. The dry weather in Canada, the potential destruction of a nuclear power plant in Ukraine, the possible abandonment of the Black...

The jump in US wheat futures overnight was attributed to both poor crop ratings in the US along with a slow harvest pace, as well as developments in the Russia / Ukraine war. With just 37% of the US winter wheat crop in the bin it is starting to...

Algeria picked up durum this week. Algeria don’t make their tender results public. The trade tend to speculate on both price and tonnage which are later confirmed by sellers in one way or another. The price is being assumed to be around US$386 CiF. The seller/s are expected to...

The only green on the board this morning is again in the oilseeds. Chicago soybean futures managed to keep the momentum going and closed 24.75c/bu (AUD$13.63) higher in the Sept 23 slot, and again lending a hand to Paris rapeseed. The Winnipeg market was closed due to the Canada...

US grain futures again suffered through another volatile session. Data from the USDA acreage and stocks report set the tone for the session. Wheat was lower, SRWW futures at Chicago shedding AUD$9.24, while HRWW was mixed. Spring wheat futures at Minneapolis were a tad weaker while values out the...