Minneapolis spring wheat futures and Chicago soft red winter wheat futures were softer overnight, shedding some of last weeks upside. The moves in SRWW and SW were minor compared to the move in hard red winter wheat. The downside in HRWW takes the nearby values to less than soft...

Mixed data out of the US had the market scrambling to make sense out of a plethora of financial and consumer based data last night. US GDP +2.2% YoY, missing the FED target of 2.5%, also down from 2.8% in 2024. US Government spending was down 5.1%, mostly at...

More healthy gains in US wheat futures and port prices overnight have helped close the gap in the conversion between US and Aussie values C&F Asia. The discount to US HRWW to Aussie H2 wheat is now roughly US$7.00 per tonne. Considering the differences in milling characteristics this should...

Chicago wheat futures bounced higher for all grades last night. The market probably spurred on by some technical coverage and by thoughts that the USDA acreage report may tell the market US area is well back on last year. The punters are expecting to see a sown area of...

International cash wheat markets were generally flat to -AUD$2.00/t compared to yesterday. US and Canadian wheat values out of the Pacific Northwest were generally the weaker, down AUD$1.50 to AUD$2.50 / tonne for mid grade milling wheat, compared to yesterdays conversion. White wheat out of the PNW was down...

With US markets and the ICE closed last night there’s not heaps of technical data to look at this morning. AUD / USD was flat, unchanged from yesterday. The AUD did see some minor adjustments against a few of the majors though. The AUD generally trending a little firmer....

Chicago wheat futures gave back much of the previous sessions gains last night. With the funds holding a net short position they are a little exposed to a rally during the northern hemisphere thaw period. If we do run into a problem in the US, or even Russia or...

US wheat futures found some upside last night. The rally in futures spilled over into support for cash values out of the Pacific Northwest. There’s not a lot of excellent reasoning in market wires to discuss the double digit rally in US wheat last night. US weekly sales for...

US wheat futures and cash markets were firmer, aided greatly by the falling US dollar. Cash offers for US HRWW out of the Pacific Northwest closed the day valued at roughly US$234 FOB. The day to day conversion increasing roughly AUD$2.68/t. We can use this value to determine a...

A quick look at wheat in last night USDA World Ag Supply and Demand report should be enough to send you to sleep. It’s not bad news at least. World ending stocks were lowered, down 740kt from 278.25mt in January to 277.51mt. This was generally determined by a reduction...