The AUD is spoiling the show this morning, easily turning a small loss in Chicago SRWW futures into a lower day here. The day to day move in SRWW futures converted to a decline of just AUD$0.96 / tonne. The move higher in the AUD tacks another AUD$2.72 downside...

Chicago and Minneapolis wheat futures gained a little value in overnight trade. There was also better values at Paris and London exchanges. Paris led international wheat values higher. Rain in France and Germany continues to be an issue and is hampering the finalisation of harvest. Quality on as much...

Argentina has finished sowing their wheat crop but conditions remain less than ideal as cold, dry conditions hamper establishment in some western locations. Argentina has sown approximately 6.3mha this year but there’s a distinct difference between the east and west portions of their crop. The east hasn’t seen a...

Flooding continues across much of northern India this week. There’s also been good rainfall across northern central India but not a lot more than average for this time of year. In the central regions some location are experiencing slightly drier than average conditions, but this is not of concern....

It’s a sea of red out there this morning. International futures markets are generally lower. London feed wheat is lower, Paris milling wheat lower, Chicago SRWW and HRWW futures are both lower, corn and soybean futures at Chicago also lower, beans sharply so and dragging canola and rapeseed with...

The USDA World Ag Supply and Demand August Estimates were out overnight. I’ll concentrate on the wheat numbers. Beginning stocks were increased 1.37mt, production was increased 2.09mt to 798.28mt. Imports were increased 1.7mt, total consumption was increased 4.08mt and the net result was a less than bearish decrease of...

Week on week international barley numbers are mixed. The conversion from last week to AUD per tonne ex farm LPP equivalent price for many major exporters into both China and S.Arabia is loosely trending a little higher. French and Ukraine values on an FOB basis are just over AUD$5.00...

US wheat futures were generally lower, the premium grades continue to move lower at a fast pace than SRWW. HRWW and spring wheat shed 3.5c/bu and 1.5c/bu respectfully, compared to a loss of just 0.5c/bu for SRWW at Chicago. Cash values out of the Pacific Northwest pushed lower than...

I see some technical traders now suggesting that Chicago corn is on a path to 300c/bu. We’ve not seen <300c corn since December 2008, corn did slip to 307/bu in August 2020. It’s not uncommon for corn to set the seasonal low during the August / September period. If...

It was a bit of a nothing session at Chicago for wheat and corn, corn a smidge lower, wheat a smidge higher. Conditions in Canada appear to have put the brakes on further erosion of Minneapolis spring wheat values. Chicago soybeans were sold off, shedding double digits in the...