Chinese imports for the year January 2023 to December 2023 are interesting. Wheat imports were estimated at 12.1mt, +22% year on year. Corn imports were up 32% year on year to 27.13mt, that’s interesting given the massive feed wheat crop they harvested. Barley imports were also much higher year...

US wheat futures were flat to softer. The weakness in HRWW and spring wheat futures were not reflected in cash values out of the Pacific Northwest. In fact when converting PNW values to AUD per tonne prices there are roughly AUD$3.00 to AUD$5.00 higher apart from white wheat, which...

The US market was open again after a long weekend. The punters took the path of least analysis and pressure was again exerted on the market from the WASDE report last week, and prices were generally softer across the board. The one real surprise, to me anyway, was Chicago...

With the US markets closed for Martin Luther King Jr day there’s not much to read out of the USA this morning. The weather in the US has been pretty harsh over the last few days, blizzards closing highways as far south as Kansas. In Montana temperatures are currently...

The WASDE was out last night and as expected the biggest losers were corn and soybeans. World ending stocks for corn, wheat and soybeans were all higher than trade estimates prior to the release of the WASDE. Corn was by far the biggest surprise. The avg trade estimate for...

Another poor session for US wheat futures. Corn was pressured by lower wheat and a better outlook from the S.American corn crop. Chicago soybeans closed flat to a smidge firmer. The fact the soybean market didn’t fall further was all the Paris rapeseed and Winnipeg canola market needed to...

It was very much a pre WASDE report type market across US futures last night. The USDA will present their first World Ag Supply and Demand Estimates report for 2024 on Friday night our time. I’ll have a dig into it on the Saturday morning comments. No one is...

Technical trade saw most grain futures markets close in the green last night. Even US soybeans closed higher, dragging both Paris rapeseed and Winnipeg canola higher by the close. Harvest of soybeans has commenced in Brazil, there’s not a lot off as yet, and the fields that are now...

US wheat futures were sharply lower in overnight trade. Generally cash wheat values from major exporting nations did not follow the Chicago SRWW futures contract lower dollar for dollar. HRW out of the US PNW was valued at US$248.38 roughly AUD$6.74 lower as opposed to the move in SRWW...

The biggest losers overnight were the oilseeds. Funds continue to clear a long position held in Chicago soybean futures as good rain falls, and is predicted to continue to fall, across much of the major production area’s for soybeans (and corn) in Brazil and Argentina. The pressure from this...