US soft red winter wheat futures were lower. The funds have been selling this contract, the HRW and the Spring Wheat contract down for months now, every rally an opportunity to sell. Managed money now hold a record short in Minneapolis spring wheat futures. US cash wheat offers out...

The hot, dry weather across much of Brazil was the major news article influencing international grain futures overnight. Soybean and corn futures were the major beneficiaries, the rally in the row crops creating a little spillover buying in the wheat futures market. Recent dry weather in Brazil has slowed...

Winnipeg rapeseed futures ran it’s own race last night, breaking away from Paris rapeseed futures and showing a lot more strength than a lack luster Chicago soybean contract. Nearby Winnipeg canola rallied C$14.00 per tonne. The move unexpected by many, tends to plot Canadian canola values against the fundamental...

It was November USDA World Ag Supply & Demand Estimates night. Looking at wheat we see world ending stocks were increased by 560kt. The kicker was the increase in opening stocks though, up 2mt to 269.55mt. World production was reduced 1.45mt to 781.98mt, still a huge crop. Opening and...

There’s a USDA WASDE report due out tonight. Futures trade in the states was mainly focused of technical trade and short covering, prior to the report. The punters continue to hold massive shorts in wheat and corn while also sustaining a long position in soybeans and soybean products. The...

Although it is early days yet the US winter wheat crop is shaping up well and currently rated the best we’ve seen since 2019. A quick look at World Ag Weather shows US 14 days rainfall across the major soft red winter wheat regions at 20mm to 70mm. There’s...

Most punters appear to be factoring in a rate rise from the RBA this week. A survey carried out by The Guardian has suggested 34 of 39 analyst are predicting a 25pt move higher to the base rate. I’d like those odds on a horse in the cup. The...

It’s probably more about the weaker US dollar than fundamental grain news this morning. The US jobs data was a little bearish the US dollar. Slower than expected jobs growth in the US, less participation and fewer hours for those working were the key to it all. One headline...

The Buenos Aires Grain Exchange has reduced their estimate for Argentine wheat production yet again. The current estimate is now 15.4mt, back a further 5% on the previous estimate. The Argentine wheat crop has been reduced significantly from pre-sowing estimates due to drought and frosts. Combine this with the...

Russia, they never have an issue with talking their book. Grain corridor deals, export delays, port problems, go slow inspections. According to a Reuters report yesterday Russia’s Ag Minister has proposed a six month ban on durum wheat exports. Russia isn’t a major durum producer, and the main production...