Overnight Egypt picked up 240kt of Russian wheat. Offers were a little light on as would be expected after the recent court ruling determining that the government did not have the power to raise ergot standards from 0% to the internationally recognised level of 0.05%. In fact the government...

Chickpea futures at the NCDEX were firmer again overnight closing up about AUD$11.00 per tonne in the January contract when taking currency into account. Combine this with the move higher of roughly AUD$18 on Monday night and it’s becoming apparent that the tariff on yellow peas in actually inflating...

Indian chickpea futures for January delivery saw a jump of 1.9% in overnight trade, roughly equating to about AUD$18 / tonne. The major influence being firmer domestic Indian pulse prices as government import tariffs on alternative pulses increases demand for chickpeas. In the US wheat futures were lower with...

The weaker US dollar helped grain futures along last night. Corn futures recovered a little, I’m of the thinking at this level how far lower can they actually go though. The low values set after the USDA report saw the bargain hunters out in the corn pit picking up...

The old saying “big crops just get bigger” played out in last night’s USDA report. If realised the new USDA corn yield estimate will be the biggest average yield of any US corn crop at 11.009t/ha. This will give the US a corn crop of just over 370mt but...

There was mostly directionless trade in the US futures markets with major investors rolling out of December into March. There were a few punters taking a stab at what the USDA data will show early in the session but generally a sideways market as the world waits for the...

US corn futures traded sideways overnight with routine sales being reported and US farmers generally choosing to store corn rather than deliver or price it at current levels thus basis is firming in the corn belt. Soybean futures at Chicago and ICE canola futures both saw a little upside...

US markets found stability and also a little strength in wheat and soybeans thanks to further positioning ahead of the USDA reports this week and a weaker US dollar after some profit taking. Some financial analyst are suggesting with the recent events unfolding in Saudi Arabia and China we...

More technical trade in US futures markets overnight as the punters look to be squaring up a little prior to next weeks USDA reports. The Chicago Dec wheat contract if experiencing another day of sideways or higher movement on Monday should just about see the market square. There is...

Indian chickpea values continue to fall with another drop comparable to about AUD$20 / tonne overnight. This threatens to reduce local values further, potentially as low as $770 delivered upcountry NSW packer today. Increased arrivals from both importers and the Indian local producer has seen demand for chickpeas decrease...