US wheat futures were hit pretty hard overnight. The AUD done nothing so we don’t have that as a buffer today. Yesterday saw a slight increase in old crop APW basis Chicago SRWW, but I can’t see local basis jumping to +60c this morning to cover the downside. I’ll...

US wheat, corn and soybean futures all pushed lower in overnight trade. The weaker soybean market spilling over into the ICE canola contract at Winnipeg, values there closing the session sharply lower. In AUD terms nearby canola futures were back AUD$20.99 / tonne. Moves in the Jan25 contract were...

Chickpea values at the Delhi market made a slight recovery overnight, taking back a slice, but not all, of the current week on week losses. An 88Rs/Q jump in price is roughly equivalent to AUD$20.42 / tonne when taking the daily move between the Rs and AUD into account....

I may have jumped on the wheat bull wagon a little early yesterday. The technical Tuesday recovery now appears to have been nothing more than a dead cat bounce. US and Paris wheat futures both shedding value overnight. The biggest thorn in our side today will be the jump...

The sharp move lower in US wheat futures on Monday was not repeated last night. There were a lot of analyst wondering why US futures were falling as Russian wheat productions estimates were only getting lower. To see wheat cheaper on the back of that kind of fundamental news...

The USDA released their weekly US crop progress report last night. There were no real surprises apart from maybe a little better progress than expected in the sowing of summer crops. A slight decline in the condition of the US winter wheat crop may also help put the brakes...

Both Paris rapeseed futures and Winnipeg canola futures had a reasonable correction last night after multiple softer sessions over the last few nights. Paris closed higher in both the nearby and Feb 25 contracts, Aug +E6.75, Feb +E5.50. Taking the slightly stronger AUD into account, the nearby rally converts...

Algeria was said to have picked up 840kt of mostly EU milling wheat for August. Values are speculated, as is tonnage, as Algeria do not make public their purchase details. Current trade guesstimates on value appear to be around US$279. This price does seem to be pretty low, well...

Both Paris rapeseed futures and Winnipeg canola futures were lower overnight. The slightly weaker AUD will help buffer some of the downside, but the losses were significant even when taking the softer AUD into account. Paris rapeseed was back the equivalent of roughly AUD$12.19 and Winnipeg canola was lower...

Rabo bank has announced that Australia is expected to sown a larger area to wheat than last year. Given the timing of rain across the eastern and western states over the last week or so a slightly larger area just might turn out to be a bit of an...