The November USDA WASDE report was out last night and if anything it could be viewed as positive for wheat. World production was marginally higher at 772.38mt, yes that’s big but it’s smaller than many had expected to see. The carry-over stocks were reduced 1mt to 320.45mt. Looking through...

At Chicago the row crops were a smidge firmer while wheat was a tad lower. The punters appear to be waiting to see if tonight’s WASDE report holds any surprises. Pre report guesses are pretty much in agreement that the Aussie wheat crop will get additional tonnage but no...

As of the 6th of November China included a few more Australian commodities on the banned imports list, these include, but are not limited to wine, lobsters, sugar, coal, timber and copper ore and copper concentrates. Some media reports even include wool. The advice to Chinese importers to stay...

Chicago soybean futures had another good night closing 22.75c/bu higher on the nearby with both the Nov and Jan21 contract now over 1100c/bu. The move in beans rolled through to both the ICE canola market and the Paris rapeseed futures contract. The stronger AUD will take some of the...

Indian chickpea values, although softening, are still paying a premium for N/D/J delivery versus March +. The NCDEX futures contract actually shows a discount of about AUD$75 – $80 per tonne for nearby versus March. This does tend to indicated that a marketing program more focused on the short...

Both Paris rapeseed futures and ICE canola futures followed Chicago soybean futures higher last night. The higher AUD may counter local gains a little but hopefully the trade will use this opportunity to stop eroding local basis…… lol, who am I kidding. Tunisia picked up wheat and barley in...

There are a few good tenders out this week which should see some active offers out of the Black Sea. Turkey is looking for 550kt of milling wheat for Nov / Dec, Tunisia is looking for 50kt of wheat and 50kt of barley, Syria is in for 150kt of...

In SW Saskatchewan cash durum values moved a little higher for a December lift. At C$294.91, 1CWAD13 would convert back to an Aussie port number of something close to AUD$417 delivered terminal. Yesterday port bids were available at AUD$406, so not too far from the mark. US futures seemed...

Technically wheat is neutral now, a week of lower closes at Chicago appears to have done its job in the futures market. There’s a good chance we’ll see technical support creep back into wheat over the next couple of days. Fundamental support will come from a dry outlook for...

It was a big selling night at Chicago with corn, wheat and soybeans all posting losses by the close. Corn and soybean futures were hardest hit as wheat has been closing lower all week. The weakness in soybean futures rolled over into both ICE canola futures and Paris rapeseed....