There’s not a lot of green on the screen this morning. Most US and EU futures are lower bar Paris corn and Winnipeg canola. NYMEX crude oil and Brent are both firmer. Nothing really fell out of bed, but the weaker closes are compounding losses from the previous session....

It’s all about the Aussie dollar this morning, back 1.19% against the US dollar, and lower against most of our major trading partners. The move in the AUD was worth roughly +AUD$4.41/t tonne, all but countering the -AUD$4.57/t move lower in Chicago Dec SRWW futures. Looking at the day...

Today I’ll ask the serious questions, like how many cups of coffee does it take to counter the hay fever pills ? Can you die from hay fever ? Can you overdose on hay fever eye drops ? And if you blow your nose 30 times in 5 minutes,...

It’s a sea of green across international futures this morning. Apart from crude oil, it’s back sharply, we’ll be looking at $2.00/litre petrol in no time. WTI crude is back US$4.81/b in the Oct slot and Brent is back US$3.83/b in the Nov slot. Surely it no longer smells...

Lower corn and soybean futures weighed on grains last night. Wheat at Chicago and Minneapolis also slipped lower. There wasn’t a lot of green on the screen from anywhere really. Paris corn struggled to close higher, putting on less than a Euro across most outer months. Rapeseed futures at...

Pakistan received offers for 656kt in their tender, lowest price was US$348.83/t and the highest was US$369.95 C&F. Let’s call the average US$350 for the sake of the comparison exercise. I’ve attached a international map showing FOB origin values, ocean rates and C&F values. The exercise is pretty crude...

The Algerian tender is the main focus point for a lot of punters at present. As mentioned yesterday, the value of US$320 C&F +/-, was around US$30.00 higher than the previous tender. There is speculation that this was to counter some of the extra execution cost from the Black...

International wheat markets may find support from a couple of large tenders. Pakistan are in for 750kt according to some analyst, the official number appears to be 300kt. Looking at the way the government is trying to distribute what wheat it has access to maybe indicating that the 750kt...

The USDA weekly crop progress report has around 8% of the US corn crop harvested. The corn crop condition was rated at 44/13=57% G/E versus 42/14=56% G/E last week. In Friday nights USDA WASDE, the average US corn yield was reduced month on month to 178.5bu/ac (11.203t/ha), although lower...

The USDA put out their September World Ag Supply and Demand Estimates report last night. I’ll have a quick look at wheat and see if the market move lower is justified from this data. The first thing we see is an increase in world production of 3.13mt, and an...