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...

Paris rapeseed futures were crushed in overnight trade. The Feb 2025 slot closed at €456, down €17.75 per tonne. At today’s exchange rate this is equal to AUD$29.94 / tonne. This move was against the higher close in Chicago soybean futures. The Canadian market was closed due to a...

Paris rapeseed is an interesting calculation this morning. The Feb25 slot fell from €474.25 / tonne Thursday to €473.75, back just €0.50 / tonne. The difference between the Euro / AUD day to day is the interesting part, 0.6023 on Thursday to 0.5965 last night. If you look at...

Chicago and Minneapolis wheat futures contracts all closed a little higher overnight. Spring wheat the winner, finding support from not only hot dry conditions in Canada, Russian and Ukraine but also the continued poor weather in Europe. A quick look at WorldAgWeather.com shows rain continuing across northern France and...

Chicago soybean futures were pretty flat overnight, the January 25 slot closed in the green by just 1.5c/bu. Both Paris rapeseed and Winnipeg canola managed a little better. Taking the day to day move in the AUD into account the difference between yesterdays conversion to AUD per tonne and...

Chicago soybeans were hit pretty hard again last night, shedding 17c/bu (AUD$9.55/t) in the Jan25 contract. The spill over pressure was evident in both the Paris rapeseed contract and the Winnipeg canola contract. Winnipeg closed C$18.30 / tonne lower in the January slot. Cash bids for ex farm pick...