Both Chicago soft red winter wheat and hard red winter wheat futures saw double digit gains overnight. There’s no fundamental reasoning for this rally. Weekly US sales were not great, 203.1kt, that’s towards the low end of trade estimates leading up to the report which ranged from 200kt to...

US cash and futures for wheat saw a little downside overnight. Hard red winter wheat 11.5% out of the Pacific Northwest was roughly AUD$3.80/t cheaper when compared to yesterdays conversion from FOB US to, C&F Asian consumer, to XF LPP equivalent. US White wheat was relatively unchanged and higher...

One week you have to be an expert on Venezuela, next week China, then global tariffs, then freezing rain in Russia, then blizzards in the US, then crude oil shipments from the Middle East, no wonder I have no hair. From a fundamental perspective the actions between Israel, it’s...

International wheat futures were firmer, Chicago, Minneapolis and Paris milling wheat contracts all finding good gains by the close. Is it sustainable, if you can show me a fundamental reason why this is happening, than yeah, we can call it fundamental, but otherwise it still appears to be technical...

US weekly wheat export sales for the week ending Feb 19th were terrible, just 243kt, well below the average and highest trade estimates prior to the reports release. Obviously this data had little relevance to the futures market and nearby SRWW futures at Chicago rallied 6c/bu. Funds continue to...

It’s pretty obvious the AUD is going to play a big roll in today’s trade pricing. It has increased, in USD / tonne terms, Aussie products around the world. Aussie milling wheat and sorghum will be the hardest to stop a fall in domestic values. Both grades are primarily...

International grains, cash and futures, were mixed, no huge moves in anything. Chicago soybeans moved higher, up 5.25c/bu on the nearby. This helped sustain improvements on both Paris rapeseed futures and Winnipeg canola futures. Cash values for canola ex farm SE Saskatchewan were also firmer, up CAD$2.14/t on the...

Minneapolis spring wheat futures and Chicago soft red winter wheat futures were softer overnight, shedding some of last weeks upside. The moves in SRWW and SW were minor compared to the move in hard red winter wheat. The downside in HRWW takes the nearby values to less than soft...

Mixed data out of the US had the market scrambling to make sense out of a plethora of financial and consumer based data last night. US GDP +2.2% YoY, missing the FED target of 2.5%, also down from 2.8% in 2024. US Government spending was down 5.1%, mostly at...

More healthy gains in US wheat futures and port prices overnight have helped close the gap in the conversion between US and Aussie values C&F Asia. The discount to US HRWW to Aussie H2 wheat is now roughly US$7.00 per tonne. Considering the differences in milling characteristics this should...