Hot on the heal of news that Russian wheat exports hit 8.17mt up to and including the week ending August 30th, that’s a 63% increase on the same time last year, comes yet another confirmation from Russian officials that they currently have no to limit wheat exports this year....

US wheat, corn and soybean futures closed higher. The AUD is sharply weaker and global wheat offers at an FOB level continue to trade sideways to lower. In the US, futures were caught up in end of month, long weekend trade. Wheat dragged the corn market higher and soybeans...

Well Wednesday’s gains in US wheat futures proved to be a dead cat bounce. This term always amused me, apparently a dead cat may bounce when thrown from a high point but it doesn’t actually get up and run away. The rally was based on concern Russia would implement...

Fundamentally there is no fresh news justifying the significant jump in both US and EU wheat futures overnight. If you believe the market wires the rally appears to have been based off speculation that Russia will curb wheat exports after a less than perfect harvest this year. Yes, that’s...

The international markets continue to see mixed signals for wheat values. We have Russian milling wheat values into Egypt continuing to fall away and we have EU yields being cut further. Egypt picked up Black Sea wheat at an average price of about US$241 per tonne, about US$9.00 less...

US grain futures continue to see fund money being withdrawn for greener fields. The US share market responded positively to news the Trump administration had struck a trade deal with Mexico. The modified NAFTA agreement thus far continues to exclude Canada. According to Trump negotiations with Trudeau will commence...

US wheat futures continued to fall, the stronger AUD isn’t going to help the situation come Monday either. Looking at new crop canola at the ICE we see the move in futures is a +AUD$0.63 while the move in currency is worth -AUD$3.84. In the US the wheat harvest...

Soybean slipping further and a stronger US dollar all contributed to a poor performance in wheat futures at Chicago.  US weekly export sales were not very impressive either with just 240kt of wheat sales made. The punters had pencilled in orders for about 650kt so the 240kt number really...

Germany announced their drought aid packed to farmers yesterday on the back of news that Germany will not produce enough grain to be self sufficient this year. The package consisted of non-repayable cash grants to producers that qualified and could prove that the drought there had reduced crops by...

US and European wheat futures closed lower again overnight. The last two session has seen 32c/bu (AUD$16) peeled off December 2018 CBOT soft wheat futures. Technically this is pushing wheat into a very oversold position. The punters are holding more short than long contracts. Harvest in the northern hemisphere...