The AUD is a bit of an issue again this morning, but generally speaking most global grain and oilseeds value were higher, so it is not having the impact on the conversion comparison it could of have if we had flat or lower global prices. It does result in...

There was a USDA World Ag Supply and Demand report out last night. It generally failed to rate a mention in the lead up to the release, lots of other news to concentrate on, and let’s be frank, the international fundamentals of the grain market haven’t exactly been the...

The US wheat futures market succumb to …….. reality, profit taking, technical trade… call it what you will. Chicago SRWW and HRWW futures did close a little lower. Minneapolis spring wheat futures did manage to hold onto recent gains and closed a smidge higher. Canadian spring wheat was lower....

US wheat futures saw significant gains overnight. Nearby soft red winter wheat futures at Chicago was up 28.5c/bu, about AUD$14.91/t. The AUD is up 0.57%, taking back some of the cream, but seeing futures up AUD$13.00/t day to day is encouraging. I’d love to be able to talk about...

Both Chicago soft red winter wheat and hard red winter wheat futures saw double digit gains overnight. There’s no fundamental reasoning for this rally. Weekly US sales were not great, 203.1kt, that’s towards the low end of trade estimates leading up to the report which ranged from 200kt to...

US cash and futures for wheat saw a little downside overnight. Hard red winter wheat 11.5% out of the Pacific Northwest was roughly AUD$3.80/t cheaper when compared to yesterdays conversion from FOB US to, C&F Asian consumer, to XF LPP equivalent. US White wheat was relatively unchanged and higher...

One week you have to be an expert on Venezuela, next week China, then global tariffs, then freezing rain in Russia, then blizzards in the US, then crude oil shipments from the Middle East, no wonder I have no hair. From a fundamental perspective the actions between Israel, it’s...

International wheat futures were firmer, Chicago, Minneapolis and Paris milling wheat contracts all finding good gains by the close. Is it sustainable, if you can show me a fundamental reason why this is happening, than yeah, we can call it fundamental, but otherwise it still appears to be technical...

US weekly wheat export sales for the week ending Feb 19th were terrible, just 243kt, well below the average and highest trade estimates prior to the reports release. Obviously this data had little relevance to the futures market and nearby SRWW futures at Chicago rallied 6c/bu. Funds continue to...

It’s pretty obvious the AUD is going to play a big roll in today’s trade pricing. It has increased, in USD / tonne terms, Aussie products around the world. Aussie milling wheat and sorghum will be the hardest to stop a fall in domestic values. Both grades are primarily...