International Commentary US wheat futures opened firmer but succumb to profit taking by the close. After closing higher for 4 consecutive sessions some profit taking was in order. There’s no change to the global fundamentals at present. US and Russian winter wheat is fine and there’s been no disruption...

International Commentary International wheat futures were firmer in overnight trade. Chicago SRWW and HRWW futures made small gains, as did spring wheat futures at Minneapolis. Paris milling wheat closed higher across all months, the March 2025 contract putting on €3.00 / tonne. Corn closed a smidge higher at Chicago...

International Commentary US and Paris wheat futures closed higher, one of the few grains closing in the green last night. Chicago SRWW futures did not preform as well as the previous session, the firmer AUD almost countering the move completely. Paris milling wheat was firmer, closing +€0.75 / tonne...

International Commentary The Australian harvest moves on with CBH in WA taking 3.2mt last week, taking receivals to date to 7.2mt and roughly 40% of projected receivals. On the east coast Graincorp sites saw 1.5mt of additional deliveries taking harvest receivals to 6.67mt. Harvest is winding up on the...

With the US now off daylight saving time and Australia is on it, the time difference has shrunk. Being so far apart one might think this has little impact on price analysis, but I start to prepare this report at 6.30am. This is fine to get closing futures data,...

US grain and oilseed futures continued to push lower last night. All three wheat grades, corn and soybeans all closing in the red. Paris milling wheat futures saw a €1.25 / tonne jump in the December contract but outer month contracts were all in the red. Weakness in soybeans...

US and Paris wheat futures suffered another night of loses. Paris milling wheat shed €4.75 (AUD$7.73) nearby and €3.00 (AUD$4.88) in the March slot. US soft red winter wheat futures were back 11.25c/bu (AUD$6.36) in the December slot. Both HRWW and spring wheat futures fared better, HRWW at Chicago...

Good weekly US wheat export inspections data was overlooked as both futures and cash prices fell away. FOB values out of the US Pacific Northwest were lower day to day in AUD / tonne. The weaker AUD helping to counter some of the move lower but not all. Hard...

The Canadians had a day off for Remembrance Day. US markets, cash and futures, were generally lower. Cash wheat out of the Pacific Northwest declined up to AUD$8.60 per tonne for HRWW December. Club white wheat out of the PNW was lower by less than a dollar. The AUD...

The USDA World Ag Supply and Demand Estimates report was out last night. This month WASDE is a bit of a fizzer for wheat. Not bearish but not really that bullish either. A closer look at wheat shows US ending stocks were increased a smidge, just 80kt. World ending...