The “rally” in US wheat futures fizzled out overnight, the funds seeing the jump as a selling opportunity. The catalyst for the decline was increasing pressure from Russian wheat out of the Black Sea. Weekly US export sales were...

Wheat futures in the US and Paris closed in the green. The slightly weaker AUD helps the conversion a little, the move in Chicago worth roughly AUD$6.48 per tonne. Paris was a little more subdued, milling wheat there closer...

Domestic wheat prices in Russia continue to fall. This is mostly due to ample production, recent estimates have the Russian crop now around 91mt as opposed to the latest USDA estimate of just 85mt. The other problem is logistics,...