Looking at the USDA WASDE report this morning shows a nice reduction in world wheat ending stocks, from 313.19mt in January to 304.22mt. Interesting to see that the world production estimate was actually increased 800kt to 773.44mt. A 9.78mt increase in domestic use seems to be the key to...

A winter storms has seen cold weather push across the northern mid-west of the USA covering Montana, North and South Dakota, Minnesota and parts of Iowa and Illinois. The mercury dropped to as low as -35C across Minnesota. Further south in the HRW belt of Kansas and Oklahoma overnight...

All the wires are still rambling on about the weekly US corn sales to China, a new record weekly sales volume. Looking at it on a chart it is indeed an impressive spike. It does reveal a number of different things that need to be considered when dealing with...

In international news Algeria picked up 630kt of Feb / March milling wheat at an average price of about US$313 / tonne C&F. Algerian tender results are not public but trade guesses on supply and value are usually pretty close. The bulk of supply will come from the EU,...

I’m going to deviate a little today onto something that’s, well, interesting. I’m not sure how many of you know what Reddit is but it is basically an multi forum online hosting facility. People start a group, name it something catchy, others join that group and so on. There’s...

In Canada, SW Saskatchewan, cash bids for canola and all grades of spring wheat were higher. Canola put on C$23.57 for a March lift while spring wheat was C$5.88 higher for the 13.5% product and C$5.52 higher for the 11.5% product. Durum values were a little firmer at C$308.56...

Old crop wheat and corn futures at Chicago were generally flat to lower in overnight trade. Corn a smidge higher, wheat a smidge lower. Soybeans where a smidge higher on the old crop while new crop were a touch lower, nothing really convincing in either direction. The big mover...

Weaker US soybean futures at Chicago set the path for global oilseed values overnight. Declines were noted in the ICE canola contract and the Paris rapeseed contract. Locally the trade did not follow yesterday’s decline in ICE canola futures dollar for dollar, thus we saw some improvement in basis....

Chicago soybean futures were back 31c/bu on the nearby contract overnight. Profit taking kicked off early with their overnight session seeing some downside before the trend carried over into the main day session.  A quick look at the stochastic chart shows there is still plenty potential downside left in...

The US celebrated Martin Luther King Day with a public holiday on Monday. Scrolling through the market reports there’s nothing jumping out as majorly bullish or bearish. The Russian export tax is the main story. The increase in Russian offer values seems to have resulted in Turkey pulling a...