US wheat futures drifted lower on the back of the recent USDA report. It appears Chicago SRW is destined to drift aimlessly either side of 500c/bu for a while longer yet. We’ve see futures trade US$10 either side of US$183/t for Dec 18 SRW since Ag-Quip. This spread has...

If in doubt tweak China’s numbers, no one has the ability to prove you right or wrong. That seems to be the lesson out of the WASDE report last night. The USDA increased Chinese wheat production from 128mt to 132.5mt. They also increased beginning stocks from 126.82mt to 131.26mt,...

The US futures market saw a little technical trade ahead of the USDA report due out tonight. The previous gains this week had left Dec wheat a little over bought but last night’s sell down should go a long way to seeing SRW and HRW futures heading into the...

Global markets are in a bit of a holding pattern as they wait for this week’ WASDE report to hit the email.  In the meantime the US markets traded around the crop progress report which indicated US winter heat that is being sown now slipped in both sowing progress...

Canadian canola values continue to slip as their market adjusts to the lower quality of this year’s crop. I get a bit cynical when I see base rates drop away in years of poor oil. I always thought that is what the P&D system accommodated. A base price for...

In the US wheat, corn and soybean futures all closed a little higher. Canola pushed lower. Canola futures are basically keeping in line with the weaker average cash price for Canadian canola. Canola discounts are something we are all too familiar with here in NNSW. You see the season...

There are suggestions that the US trade war with China created by the Trump administration maybe working itself out. The hint of a deal rallied soybeans 30c/bu, while corn and wheat futures also got a leg up. The rally pushed US grain futures higher against some fundamentally poor export...

Nearby ICE canola values appear to be caught up in an end of the month squaring up as neither Paris rapeseed futures or the Chicago soybean pit reflected the loss suffered by Nov Canadian canola. US futures were pretty ho hum with most punters following the trend while having...

US grain markets were weaker in overnight trade. Corn and soybean futures were lower on the back of poor demand and the last of the crop getting harvested. US wheat futures were caught up in the selling but offered little fundamental resistance as export demand remains poor for US...

With Chinese feed regulations changing to take into consideration a lower import volume of soybeans we may well see the Chinese come in search of a viable alternative. The question to ask is will that alternative simply be a meal or beans from S.America or could it be another...