Buenos Aires Grain Exchange reviewed their expectation of the Argentine wheat crop lower. Now estimated at just 14mt, some 26% below the 5 year average. In the October USDA WASDE report Argentine wheat production was estimated at 17.5mt. So we should expect to see a significant reduction in this...

US grain futures were a little more subdued in last night’s session. Although generally a sea of red, wheat, corn, and soybeans all lower, wheat and corn were not as hard hit as soybeans. In fact, the sharply weaker AUD today should easily counter the AUD$3.21 move lower in...

I can see Putin at the office now, “I’ll show you guys how to make some money on wheat options, watch this”. So the grain corridor deal is back on again. As you would expect the news hit the market prior to the open at Chicago and wheat futures...

Corn, wheat and soybean futures at Chicago all closed higher. Corn was technically a follower of soybeans and wheat. Wheat is finding continued support from the Ukraine / Russia war. The protest by truckers in Brazil over recent election results have some punters thinking that soybean exports may in...

The best explanation I heard on the Russian / Ukraine grain corridor yesterday was that Russia has pulled out because Ukraine bombed Russian war ships that were protecting Ukraine exports from Russian war ships. Just think about that….. Russia will claim the moral high ground and claim that they...

US wheat futures drifted lower in overnight trade. The firmer USD and thoughts that US wheat is too expensive to encourage export sales the main fundamental reasons behind the fall. The weakness in US values spilled over to ex farm bids across SE Saskatchewan but generally prices in Canada...

Interesting to see Canadian 1CWRS13.5 milling wheat and US white wheat values higher out of the PNW. If I was an Asian buyer of white wheat, particularly Prime Hard white wheat, I’d be trying to cover my long-term supply needs ASAP. With reports of low protein and low falling...

The weaker USD, hence, the stronger AUD will be the thorn in our side today. The AUD spent the majority of the session trending higher not only against the US dollar but also against many of the other major currencies. Improvements in commodity and mineral prices set up the...

US soybean futures made double digit gains overnight, one of the few grains that closed in the black, corn the other. The upside in soybeans did not flow through to the canola and rapeseed futures market. Both canola and rapeseed contracts closed softer. Paris rapeseed for the Feb 23...

Hello Rishi Sunak, the Steven Bradbury of UK politics, anyone got a stopwatch. Saudi Arabia picked up 566kt of 12.5% milling wheat at tender last night at an estimated average value of US$384.74 for March / April 2023. Turkey was said to have picked up 495kt of wheat on...