Technically May wheat could see further selling in the lead up to this weeks USDA report. Fundamentally this months WASDE report is expected to be benign. This time of year most old crop production is well known and the market is relying on demand to drive prices. With the...

With a USDA World Ag Supply and Demand Estimates report due out at the end of the week there’s a bit of speculation creeping into the market. The main interest seems to be in the USDA potentially reducing their estimate for the Brazilian soybean crop. Currently they have it...

The Chicago soft red winter wheat contract continues to hold up well against further losses in both corn and soybeans. The nearby wheat contract saw volume at 35,709 contracts (4.85mt) last night, the May 2024 contract saw volume at 74,376 contract (10.11mt). Looking at the May chart for soft...

Chicago wheat futures done well to limit losses after sharp falls in both soybeans and corn weighed on the markets. Losses in HRW and Spring Wheat futures were reflected in cash values FOB US Pacific Northwest. HRW will work into Japan from the PNW for roughly C&F US$276, roughly...

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...