US wheat futures were hit pretty hard overnight as yet another week of poor US export inspections start to confirm that the slowdown in Russian exports did not automatically convert to US boats being loaded. The punters were expecting to see 500-600kt loaded but instead they were given 357kt...

Another holiday in the USA, Presidents Day this time, saw the US markets closed so no new settlement values from ICE or CME futures markets this morning. ABARES has come out with a revised Australian wheat number of 17.3mt, 340kt higher than their last estimate. Reductions in NSW and...

In the US we see corn flat, wheat generally drifted lower while soybean futures rallied a few cents a bushel. It still amazes me how a product like corn at Chicago can see a daily volume of 193,483 contracts, that’s 24mt, trade a 1.75c/bu range in a day and...

US wheat futures were hit pretty hard overnight shedding around AUD$8.00 on the nearby soft red wheat contract. Corn and soybeans were also lower. Interesting to note the Platts CME FOB Aussie wheat contract was US$1.50 higher on the March slot at US$284.75 as the closing price, some US$10...

US markets basically took a breather overnight, adjusting positions and squaring after the previous sessions rally. There’s not a lot driving international markets at present, it is the middle of winter after all. Production data for old crops is pretty much a known unless we see the USDA continue...

US soybean futures were the big mover overnight. Caught up in technical trade but also spurred on by a reduction in the Brazilian crop soybean futures closed AUD$6.50 / tonne higher on the nearby contract. Historical adjustments in last Friday night’s USDA data dump also saw S.American carryover reduced...

In the US grain futures were mixed, wheat closed the session flat to firmer while corn slipped a little and soybeans were softer to the tune of about AUD$5.00 / tonne. The weakness in soybeans spilled across into ICE canola futures and Paris rapeseed both closing lower on the...

The USDA data was uninspiring to many. Some interesting points included the lowest sown US winter wheat area in 110 years, now we just need them to produce 110 year old yields off that area to help reduce ending stocks. The USDA pegged sown winter wheat area in the...

US corn, wheat and soybean futures all closed lower overnight. The reason for the sharp move lower was said to have been renewed concerns over the US / China trade deal. With China picking up almost 4mt of soybeans in the last week I’m somewhat sceptical that this market...

It’s all about the AUD this morning, it slipped by close to on average 1.5% against all the majors. The RBA has signalled a possible interest rate cut as the global economy slows. Now we just need the banks to pass any adjustments lower on to the retail consumers....