The move in the AUD will counter the sideways action in US markets. Fundamentally the trade is likely to wait this out to some extent and see what the USDA WASDE report has in store later in the week.  The stronger US dollar may also put pressure on US...

US wheat futures found downward pressure from the open. Wheat at no stage during the session succeeding to push above the previous day’s closing price and settled the day at or just above the sessions low. Hard red winter wheat futures were hit the hardest, shedding 18.5c/bu (AUD$10.11) on...

Russia continues to rattle their sabre regarding the extension of the Grain Corridor deal. If anything, this ordeal has taught me how to spell corridor. Russia continues to export significant volumes of grain through the Black Sea while increasing their export tax to ensure domestic prices remain stable and...

Turkey picked up 220kt of feed barley by tender yesterday. The average price was estimated at US$283.71. On the back of an envelope this would equate to something close to AUD$280 XF LPP. This is pretty cheap. Russian feed barley had been indicated at US$273 FOB. This tender value...

Chicago soft red winter wheat and hard red winter wheat futures staged a minimal recovery overnight, both closing in the green. Minneapolis spring wheat futures went the opposite direct at the futures exchange and out of the PNW cash market. London feed wheat was slightly weaker and Paris milling...

Wet weather in Brazil continues to delay both the soybean harvest and the late plant corn crop. The trade suggests that at least 20% of the late corn will be sown later than planned. This could see a yield reduction if the season does not go with the crop....

The dry weather across most of the Australian wheat producing regions got a mention in international wires overnight. Not that it makes much difference to a fund manager with a fist full of sell orders. By the end of the session at Chicago all three US wheat grades were...

Egypt picked up 240kt of Russian wheat this week for shipment during the first half of April. The price was said to have been US$317.50 C&F.  On the back of an envelope this is equivalent to somewhere around AUD$350 XF LPP, Australian milling wheat was never in the mix...

Chicago soybean futures, ICE canola futures at Winnipeg and Paris rapeseed futures were all lower in overnight trade. Paris was off E12.25 on the August contract. Taking the AUD / Euro into account that’s equivalent to about -AUD$22.10. All three oilseed contracts continue to trade as if nothing has...

Conditions across the eastern parts of the US winter wheat belt are improving. The hard red winter wheat belt remains mixed, the contrast between east and west in remarkable. Reports of wind blowing cover crops away in the west opposed to conditions being all but ideal in the east....