Chicago wheat futures gave back much of the previous sessions gains last night. With the funds holding a net short position they are a little exposed to a rally during the northern hemisphere thaw period. If we do run into a problem in the US, or even Russia or...

US wheat futures found some upside last night. The rally in futures spilled over into support for cash values out of the Pacific Northwest. There’s not a lot of excellent reasoning in market wires to discuss the double digit rally in US wheat last night. US weekly sales for...

US wheat futures and cash markets were firmer, aided greatly by the falling US dollar. Cash offers for US HRWW out of the Pacific Northwest closed the day valued at roughly US$234 FOB. The day to day conversion increasing roughly AUD$2.68/t. We can use this value to determine a...

A quick look at wheat in last night USDA World Ag Supply and Demand report should be enough to send you to sleep. It’s not bad news at least. World ending stocks were lowered, down 740kt from 278.25mt in January to 277.51mt. This was generally determined by a reduction...

With the AUD at just under 71c this morning, and most futures markets for grain flat to softer, it’s not painting a pretty picture. The move in the AUD alone is worth roughly -AUD$3.20/t against the Chicago SRWW contract. Paris milling wheat futures are lower, Minneapolis spring wheat futures...

Algeria was said to have picked up 200-250kt of feed barley this week at values ranging from US$268 to US$270 CiF. On the back of an envelope this would equate to something close to AUD$240 XF LPP. With local bids closer to AUD$305 XF LPP, it’s pretty safe to...

The strength is in the US soybean futures contracts at Chicago. The “Trump Bump” is the term now. This is adding some support to both grains and oilseeds. Both Paris rapeseed futures and Winnipeg canola saw half decent gains on the back of soybeans last night. Canadian canola is...

China has announced, again, that it will continue to expand its farmer support programs to help ensure food security and lower its reliance on imports. Considering the level of uncertainty created by the US, and in part China’s own actions, in regards to using tariffs as a trade tool....

Taiwan picked up 106kt of US wheat out of the Pacific Northwest last week. With official US export shipments for the week ending January 29th at just 326.8kt any business will be considered good business. Mexico, Taiwan and Malaysia all feature on the US buyers list. US wheat continues...

According to the Indian weather office January was unusually warm and the prediction of a warmer, drier February has a few punters back peddling of winter crop production estimates there. The main crops likely to be impacted are wheat, canola and our favorite… chickpeas. I’m always skeptical of those...