The Canadian Farm Ministry reduced wheat production overnight by 1.1mt to a 5 year low of 27.3mt including durum. The reduction in durum production was 700kt taking total forecast production to just 5mt, also a five year low. Yields across the durum belt were reduced by 0.34t/ha month on...

Chickpea values in India continue to move higher with futures trading at AUD$1080 / tonne late in yesterday’s session.  Slower supply from regional centres in Indian and talk of the Australian crop struggling from dry weather and frost damage has the Indian’s watching the supply side very closely at...

International values appear to be trying to stabilise around current levels after falling sharply after the latest USDA data. Overnight US futures for wheat and corn were a couple of cents either side of unchanged while soybeans enjoyed a little more upside. Canola at the ICE was firmer by...

US wheat and corn futures eased in overnight trade on the back of nothing more than routine US export sales and a non threatening weather map. Soybeans futures also eased a little for the outer months dragging both ICE canola and Paris rapeseed futures lower. Most of the punters...

In the US soybeans bounced back after the USDA saw weekly export sales at 1.35mt. This was higher than trade expectations and when combined with further short covering resulted in nearby beans putting on around 8c/bu (AUD$3.80) by the close. The higher bean market and sketchy outlook for Canadian...

The strength in the Aussie dollar isn’t helping the equation this morning. Overnight strength in metals and a weaker USD has seen the AUD climb by up to 1.5% against most of the majors. In dollars per tonne terms it equates to roughly -$2.73 in wheat and around -$1.15...

With the US dollar up, crude oil down, corn ratings improving and good weather in the US it was always going to be a big call to see even a flat US futures market last night. Well flat it wasn’t, by the close corn, wheat, soybeans and ICE canola...

Weather in the US is good for row crops thus follow through selling from last week’s USDA report came unchallenged and both Chicago soybean and corn futures moved lower. Wheat is caught up in technical selling at Minneapolis and talk of increasing world wheat stocks. Apart from the foreseeable...

US futures initially rallied a little party due to the fact prices are already low and with the new USDA data showing stocks are now likely to be flat in the mid term there is probably no reason to push prices lower. The other factor being some level of...

The USDA threw a spanner in the works last night and increased US corn and soybean production this is opposed to what the majority of the trade in the US thought the USDA would do and decrease average yields in both grains. The average corn yield is expected to...