International tenders for feed wheat into the Philippines and milling wheat into Iran were concluded last night. The Philippines were said to have picked up around 160kt of Aussie wheat. Iran were buyers of 500kt of milling wheat for Jan / Feb with 60kt shipments destined to various ports....

In the US wheat futures found technical selling triggered by thoughts that global values will continue to come under pressure in the short term from good supplies of Argentine and Australian wheat. The technical downside in Chicago wheat futures spilled into the corn pit resulting in technical selling in...

Plenty of international wheat tenders announced this week as consumers take advantage of a dip in futures and also cash prices in some markets to gather stock. The Philippines has a couple of tenders out, milling wheat (50kt) and feed wheat (220kt) to be purchases there. Russia and Egypt...

US wheat futures were mixed in overnight trade. Spring wheat futures softer while both soft and hard wheat at Chicago recovered a little. The big loser in overnight trade was soybeans shedding 23.75c/bu (AUD$12.22) in the January contract. The lower close in Chicago beans was not reflected in ICE...

US corn futures found some resistance and profit taking after recent gains, the Chicago market closing lower overnight. Fundamental support came from delayed planting in some parts of Argentina. Talk of a persisting La Nina keeping S.America dry over the winter also slowed any decline in corn futures. The...

The USDA drank the Cool Aid supplied by ABARES, increasing Australian wheat production by 2.5mt. To compound the bearish nature of the report on Aussie wheat the USDA also increased Australian beginning stocks by 950kt but did counter this a little by increasing domestic use by 500kt and increasing...

Paris rapeseed Feb22 futures were sharply higher overnight putting on AUD$17.79 per tonne. Winnipeg canola futures did not follow the Chicago soybean market higher and actually shed C$10.90 on the March 22 slot. Volume in Chicago SRWW was back a bit possibly signalling that most positioning prior to tonight’s...

Chicago corn and wheat futures closed higher while soybean futures were a little lower. Winnipeg canola followed the US bean market lower while Paris rapeseed took back yesterday’s losses and some. The AUD was firmer against most major currencies which may counter the possible move higher in corn /...

Saudi Arabia confirmed the purchase of about 689kt of optional origin milling wheat with a delivery period of July 2022. The price paid was said to average about US$365.14 C&F, around US$12 under their previous tender results in early November. Louis Dreyfus featured heavily in the purchase with Olam,...

The Aussie dollar pushed lower overnight, briefly slipping to 69.95 before closing fractionally over 70c. The fall in the AUD will help act as a buffer for export wheat and sorghum values on Monday. The move countering a potential AUD$6.30 per tonne reduction in wheat, if Chicago SRWW futures...