ABARES has pegged the 2020-21 Aussie wheat crop at 21.352mt, that’s a fairly rubbery number considering that there wouldn’t be too many seeds in the ground for another month or two. Domestic consumption is expected to slip back from 8.6mt to 8.45mt while exports increase resulting in a net...

Weekly USA wheat export inspections were better than expected and underpinned moves in Chicago futures overnight. Wheat was pegged at 654kt, well above the average trade guess and 217kt better than last week. Corn and soybeans came in at about the trade estimate, 896kt and 670kt respectfully. Interesting to...

Paris rapeseed was hit pretty hard in overnight trade, the May 20 contract was back E7.00 per tonne. Outer months were also sharply lower with the Feb 21 slot shedding E3.75 and the May 21 E6.00. Canadian canola at the ICE fended a little better limiting losses in the...

Weekly US wheat sales were less than inspiring and the market reacted accordingly. At 382kt of old crop wheat sales it was lower than trade estimates prior to the release of the report. Even combined with new crop sales of 68kt the final figure still came in below expectations....

In the US grain futures were generally a smidge softer in overnight trade. Any move lower will be more than taken up by the weaker AUD which in dollars per tonne terms for wheat accounts for about $2.16 of buffer, wheat only slipped about 70c/t. The AUD is at...

US futures were generally on the positive side of flat today. Corn, wheat and soybeans saw little movement overnight as the market began to brush away coronavirus fears and step back in as buyers. The global demand side of the equation for wheat isn’t too bad this week with...

Last night’s sharp drop in US grain futures now places wheat technically close to neutral. It will be interesting to see if the punters can mop up the blood prior to the March contract rolling off the board or if they intend to push the nearby lower leading into...

US grain futures finished the session lower. Corn appeared to be the anchor with wheat still suffering technical losses. Corn found support from good weekly export sales of 1.25mt but news that the USDA are expecting to see an increase in US ending stocks this year soon pushed the...

Corn and soybeans futures at Chicago lead wheat lower overnight. The USDA acreage expectations for the row crops this year was a little higher than the trade had been expecting to see. This weighed on wheat which was still a sell after the Tuesday rally out of thin air....

After the nice rally of the previous session Chicago wheat succumb to a round of profit taking last night. The punters were happy to take some profit and start the next round of speculation which is centred around what the USDA will say in the Ag Outlook Conference that...