The wheat market is trying to analyse why Chicago soft red winter wheat futures bounced 20c/bu last night. The Dec 24 contract now back over 600c/bu. The number of 20c moves one sees at Chicago these days versus just 10 years ago is impressive. In 2014 there we 9...

China is back, the US and Canada took a day off though so market data is a little thin on the ground this morning. Dalian corn futures were lower, the May24 slot shedding Y19, to close at Y2389, or US$331.87 or AUD$507.52 per tonne. Paris milling wheat futures were...

As with many major exporting nations around the world, France too now has many producers who will struggle to make a profit from wheat in 2024. The combination of lower projected yields, higher input costs and poor prices could see gross margins there slip into the negatives by as...

Egypt picked up 180kt of wheat. The lowest offer was from Ukraine at US$218.10 FOB Chornomorsk / Odessa. The offers were significantly lower at the FOB level then other offers. While the price was low FOB, the freight rates out of Ukraine remain higher, US$36.90 compared to just US$17.60...

Wheat futures in the US took a hit last night. The move was also reflected in lower values out of the PNW. The move is a little exacerbated here today when converted into local currency, the stronger AUD coinciding with the fall, never a welcome combination. Locally we saw...

International futures markets were quiet overnight. The main mover was the oilseeds market, both canola and rapeseed futures closing higher, helped along by talk of poorer yields in S.American soybeans and lower palm oil production in Asia. The move went against the flow in Chicago soybean, probably feeling the...

World futures markets were generally flat last night. US soybeans showed a slight pulse, rolling across to some additional support in both Winnipeg canola futures and Paris rapeseed futures. Delhi chickpeas were the clear winner though, chart attached. Brazil is roughly 25% through their soybean harvest now, this is...

The firmer AUD will take away some the inroads made by world wheat values last night. At Chicago SRWW rallied an unconvincing 8.25c/bu, or AUD$4.65. Unfortunately the rally in the AUD is the equivalent to -AUD$1.87, netting a plausible gain of AUD$2.78 in that market in our terms. This...

There’s a lot of adjustments to digest in the February USDA World Ag Supply and Demand Report. As usual I’ll concentrate on wheat. Initially the numbers start well, a slight reduction in world carry in after adjustments to last years data. World production was increased as most of the...

Durum markets remain as hard to pick as always. It’s no wonder we often hear wheat and sorghum traders telling us they have no interest in participating in the durum market. The Tunisia tender appears to have been shown durum wheat from Russia that has been located in Italy,...