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...

World futures markets were generally flat last night. US soybeans showed a slight pulse, rolling across to some additional support in both Winnipeg canola futures and Paris rapeseed futures. Delhi chickpeas were the clear winner though, chart attached. Brazil is roughly 25% through their soybean harvest now, this is...

The firmer AUD will take away some the inroads made by world wheat values last night. At Chicago SRWW rallied an unconvincing 8.25c/bu, or AUD$4.65. Unfortunately the rally in the AUD is the equivalent to -AUD$1.87, netting a plausible gain of AUD$2.78 in that market in our terms. This...

There’s a lot of adjustments to digest in the February USDA World Ag Supply and Demand Report. As usual I’ll concentrate on wheat. Initially the numbers start well, a slight reduction in world carry in after adjustments to last years data. World production was increased as most of the...

Durum markets remain as hard to pick as always. It’s no wonder we often hear wheat and sorghum traders telling us they have no interest in participating in the durum market. The Tunisia tender appears to have been shown durum wheat from Russia that has been located in Italy,...

It was basically a night of technical trade prior to Thursday nights USDA World Ag Supply and Demand Estimates report. Nothing ran away, soybeans were a little stronger as some of the shorts were covered. That rolled through to a mixed market in canola and rapeseed. Paris rapeseed firmed...

Most punters were blaming the stronger US dollar for the weaker close for Chicago wheat. It didn’t seem to worry soybeans much though, the nearby contract for beans closing 7.75c/bu higher. Wheat found no love, SRWW back 9.5c/bu (AUD$5.38/t) while HRWW was back 11c/bu (AUD$6.23). The weaker AUD did...

Weakness in US soybean futures at Chicago weighed on the market. Beans slipped 14.75c/bu (AUD$8.31) on the nearby contract. This didn’t help corn or wheat. Wheat futures did fare a little better, gaining back some ground in the premium grades while soft red winter wheat futures were a smidge...

US weekly net wheat sales were reported by the USDA at 322.5kt, a little lower than both last week and the 4 week average. This didn’t help wheat futures in the US and won’t help us as much as the 0.63% reduction in the AUD against the greenback will....