Turkey picked up 255kt of feed barley on Tuesday at roughly US$250 CFR, the price varied depending on discharge port. On the back of an envelope this number equates to a local bid of something close to AUD$230 – AUD$240 XF LPP. Turkey has a bunch of barley sitting...

International cash wheat conversions are generally lower compared to yesterdays conversion. The exceptions appear to be some Black Sea ports, mainly Ukraine. US and Canadian values out of the Pacific Northwest were back AUD$5.00 to AUD$8.00 per tonne when compared to yesterdays conversions. Even white wheat out of the...

US wheat futures gave back the previous sessions gain, as did corn. The old saying “the bulls need feeding everyday” rang true. The market continues to struggle to sustain a recovery, instead slipping backing to support levels and sustaining a flat, range bound market, very boring indeed. Do we...

Chicago wheat futures pushed higher as good US export demand triggered some short covering. US sales and export pace for wheat and corn remains very strong. Weekly wheat exports sales ending the week Sept 18th were reported at 540kt. That wasn’t the highest trade estimate leading up to the...

The Argentine government removed export taxes on all grains 3 days ago. The ruling will stay in force until October 31st, or until sales reach a value of 7 billion. That sounds like a lot doesn’t it. Over the last 3 days sales have totaled 4.2 billion. The move...

Chicago wheat futures improved overnight, taking back much of the previous sessions decline. There’s not a lot of fundamental news that has changed to support the recovery. Technically wheat is cheap, not only from a futures punters perspective but from a physical buyers perspective. US weekly export inspection data,...

The USDA weekly crop progress report was out overnight. With the US wheat harvest all but complete this report should have a minimal impact on wheat values. There is still plenty of speculation on US corn yields though. Around 56% of the US corn crop is now mature, with...

International grain futures are a sea of red this morning. The stronger USD hurting markets there and triggering further selling. Soybeans were pushed lower on reports that conversations between the US and China are going no where, and will probably continue to go no where ahead of next months...

At 13.1mt US wheat export sales (5.477mt Outstanding + 7.623mt Shipped) are the best they have been for this time in their marketing year as they have been in the last 5 years. Back in 2019 – 2021 Australia was suffering through a 1-100 year drought, the worst drought...

Profit taking dominated the US futures markets last night after a higher close the previous session. Momentum continues to be a thing of the past with commodity futures up one day down the next, wheat futures slowly grinding lower. The Dec SRWW contract is still above the contract low...