Sometimes I feel like the more you learn the less you know. The interrelationships between cash grain, futures, currency, outside markets and politics, and from now on AI will be have to be thrown in the mix too, can all become grey at times. The politicians are still trying...

Algeria was reported to have picked up 690kt of milling at US$272 C&F. Without knowing the exact details this does appear to be about the current value for Black Sea milling wheat. Russian 11.5% milling wheat is estimated to cost around US$236 FOB. Freight estimates are about US$33.00/t now,...

Jordan picked up 50kt of feed barley in a tender this week. It’s estimated the sale value was roughly US$260 C&F for first half of July delivery. On the back of an envelope that’s roughly AUD$260 XF LPP equivalent. East coast Aussie barley won’t work into a sale of...

Some nice gains were posted in US wheat futures last night. With US weekly crop progress report is expected to start again in April we will then start to get a better idea on how the US winter wheat crop is shaping up. This week saw a MoM decline...

The crash in Chicago soybean futures on Monday, and the spill over impact it had on rapeseed and canola futures was almost forgotten last night. Winnipeg canola futures were sharply higher. The nearby contract closed +CAD$26.90 / tonne, the Jan 2027 slot closed at CAD$731.60, up CAD$28.00. Canola trading...

Canola and rapeseed futures were smashed in overnight trade. I didn’t really see that coming, not to the volume it was hit at Winnipeg anyway. The recent rally was always open to a correction given that the majority of the strength came from outside markets, like soybeans and crude...

There were some nice gains in US wheat futures last night. Seeing the March SRWW contract roll off the board and closing +26.25c/bu higher does tend to make me think “short and caught”, but volume was just 1 lonely contract. Volume in the May slot was healthier, 79,617 contracts...

If you take oilseeds out of the picture the US grain futures market was pretty flat last night. Soybeans at Chicago closed 13.25c/bu higher in the May slot. This had the usual knock on affect to Winnipeg canola and Paris rapeseed futures, both closed higher. WTI crude rallied hard,...

The AUD is a bit of an issue again this morning, but generally speaking most global grain and oilseeds value were higher, so it is not having the impact on the conversion comparison it could of have if we had flat or lower global prices. It does result in...

There was a USDA World Ag Supply and Demand report out last night. It generally failed to rate a mention in the lead up to the release, lots of other news to concentrate on, and let’s be frank, the international fundamentals of the grain market haven’t exactly been the...