Dry sowing issues across Russia and Ukraine, wet weather across the Brazilian crop at harvest, frost damage to fields across southern Australia and cold dry weather across Argentina were all fundamental factors backing some much needed technical buying in Chicago wheat futures last night. Weekly US wheat export inspections...

The Australian wheat crop is seeing revisions lower for the first time in months. Frost damage to southern districts in NSW, Victoria, South Australia and Western Australia has seen private estimates fall from the previous weeks high. Some locations falling as much as 30%. Frost damage is hard to...

Harvest pressure from the US row crops combined with poor US weekly export data to set the tone for the session at Chicago. Corn, wheat and soybeans all closing in the red, wheat leading the way. Paris milling wheat futures followed the lead from Chicago, shedding €2.75 in the...

The US FED done exactly what the majority of punters had expected them to do, they cut rates by 50pts, the first fall in rates since they printed all that money back in Covid. The next question is, will the local RBA follow their lead on the 24th. Most...

International wheat futures were generally a little lower, although spring wheat futures at Minneapolis did buck the trend, managing to close a smidge higher across all months. Paris milling wheat pushed lower, shedding €1.25 for both the December and March contracts. Both Winnipeg canola and Paris rapeseed were higher,...

Wheat futures at Chicago, Minneapolis, London and Paris all took a hit last night. US hard red winter wheat was the worst off. Futures at Chicago for HRWW falling 19.5c/bu nearby Dec24, AUD$10.61/t at this morning’s exchange rate which is also up 0.71%, not helping the day to day...

Canola was the big loser overnight. Both Winnipeg canola futures and Paris rapeseed futures seeing a significant reduction in new and old crop slots. Chicago beans were lower, but not anything as bad as the canola and rapeseed contracts. Chicago beans shed just 4.75c/bu (AUD$2.60/t) in the Jan 25...

It’s USDA World Ag Supply and Demand Estimates reports time. So I’ll obviously spend the next hour or two pawing through the data, comparing different analyst views in an attempt to predict the future, only to disagree with different aspects of the report, thus rendering it useless in one...

Chicago grain futures were unconvincingly higher in overnight trade. Wheat, corn and soybeans all closing in the green by a few cents per bushel. Spring wheat at Minneapolis was the best of them, closing up 6.5c/bu in the December slot. This close to a WASDE release date one might...

Another higher close in US wheat futures overnight. The slightly weaker AUD will also help the day to day conversion here. It’s not worth a bunch of upside but if we can keep chipping away a dollar or two, or five, a day than we may get back to...