US wheat future set new contract lows on Friday night. Futures were under pressure from some terrible weekly US export sales data. The USDA reported only 7.3million bushels of US wheat were sold last week, that’s under 200kt. Resistance at 420c/bu soon gave way and stop loss orders were...

The IGC came out with their monthly stab at the global grains S&D last night while the USA thought of roast turkey and a long weekend. Wheat production saw a jump of 1mt month on month from 748mt to 749mt. Consumption was raised 1mt to 742mt so the net...

You can’t flog a pulse into a dead horse, the same could be said for the US wheat futures market at the moment. If prices go any lower the farmer bales out and physical grain can’t be acquired, if they go any higher no one wants to buy any...

There was a healthy lift in chickpea futures overnight. Supply appears to be tightening for nearby product in India if you can believe the market wires. This does tend to support the $91 spread between January and March futures contracts, with March being the start of the Indian harvest....

In the USA we see corn, wheat and soybeans all closing higher at Chicago. Soybeans lead the market higher helped by a weaker US dollar and slow farmer selling in the states. Wheat saw spill over buying from the row crops, the higher prices triggered buy orders and the...

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...