The WASDE is out, just quickly looking at wheat, we see the world 20-21 production estimate increased from 773.44mt to 776.78mt. An increase in usage takes care of the increase in production, resulting in a net carry out of 301.19mt, down from 304.22mt. Still a healthy amount but a...

Most of the fundamental news out last night was more bullish than bearish wheat, yet we see the punters concentrating of the improvement in the US dollar as the major influencing factor thus wheat was softer across all three US grades. Chicago soybeans flirted with 7 year highs before...

Technically speaking, and possibly fundamentally speaking, next week should be fairly interesting. We have the latest WASDE due out on the 9th, so Wednesday morning here. The punters are already talking the estimates (their book) up or down. It should reflect any of the current dry conditions and any...

Algeria confirmed the purchase by tender of 219kt of durum wheat overnight. Algeria run a closed book so many of the details are speculation but it is thought that prices were significantly higher than previous purchases. Prices were rumoured to have been around US$372 C&F. That number roughly converts...

Another volatile night on the US futures market, this time the markets finished lower. It seems 10c/bu variations are the new “flat market”. I was talking to a trader in Melbourne yesterday, trying to get a decent APH bid as they had dropped their price $4 form the previous...

Grains were generally higher at futures markets in both the USA and Europe overnight. There were a couple of exceptions but they were in the far outer month 2023 contracts or the nearby March contract which now has the death rattle and it appears some punters may be caught....

The hangover from the cold snap in the US came out in the reports today, with weekly export inspections for wheat falling significantly. US wheat export inspections for the week ending the 25th came in at 272,820 tonnes. The Pacific Northwest made up the lions share with 81k of...

US wheat futures were lower overnight as the punters accessed poor US weekly sales and the impact the improving US dollar may have on future sales. The bright side is the sharp fall in the AUD overnight will counter the downside potential here. Russia updating last year’s wheat production...

The International Grains Council (EU’s USDA) came out with their monthly stab in the dark for grain production. Wheat production for 2020-21 was increased 5mt to 773mt thanks to bigger crops in Russia (85.3mt / 84.5mt), Kazakhstan (14.3mt / 12.4mt) and Australia (33.3mt . 31.2mt) a new record for...

I get a lot of emails and I read a lot of market analysis, some more reliable than others. For a while now the bears have been talking about the demise of the latest “commodities super cycle” (are we in one yet). Current prices are far from the highs...