The supply and demand tables are a very live document at present. Black Sea restrictions could, in a worse-case scenario, create severe market shortages compared to supply on current stock estimates . In other words, if there are no further Ukraine / Russian exports of wheat prior to new...

Was it Einstein who said every action has an equal but opposite reaction. It appears the laws of physics may also be able to be applied to grain futures markets after last night’s demise of US grain futures. Wheat futures at Chicago were crushed as the punters took profit....

Chicago wheat futures took the lead from the overnight session and pushed to 50c/bu higher in both the March and May 22 contracts. Hard red winter wheat futures at Chicago were not too far behind. Paris milling wheat futures also moved sharply higher, the nearby March contract up E29.50...

Continued increases in US grain futures overnight. Speculation that grain flow from the Black Sea will be affected is the major influence. The media reports that Russian troops are in western Ukraine. A move being condemned by western leaders. Some ag analyst are also expecting to see further increases...

Macron – Come on man, I don’t want a war. Putin – No worries, I don’t want a war either. Biden – Guys, come on. Also Putin – Come to me east Ukraine, come back to mother country. Biden – ooooo yeah. Putin – mmmm, do I remove wheat...

A long weekend in the US has resulted in market data being a little thin this morning. A glance at European grain futures shows milling wheat at Paris is slightly firmer across the board. The May 22 slot closing E3.00 higher at E278.75 per tonne. The Dec slot up...

Chicago hard red winter wheat futures were the clear winner in last night’s US futures session. Closing 12.25c/bu (AUD$6.26) higher on the nearby and 11c/bu (AUD$5.62) higher in the Dec 23 slot. 1CWRS13.5 Canadian wheat spread March / Dec is C$49.00. The IGC wheat stocks chart for the major...

Algeria is said to have picked up 600kt of milling wheat overnight. Algeria do not make tender results public, price or volume, so the price and volume are estimates acquired from market sources. Algeria purchased wheat on both Wednesday and Thursday, probably not the best decision considering Egypt also...

Bear trap, dead cat bounce, only time will tell. Chicago grain futures were generally higher across the board last night. Wheat was more of a follower after the media began talking the Ukraine / Russia conflict down earlier in the week. Instead the market found support from the soybean...

Chicago soybean futures took a breather last night, back 13c/bu on the nearby. Weakness in beans spilled over into both Paris rapeseed futures and the Winnipeg canola. The softer AUD will go some way to buffering the decline here, potentially countering about half the value of the downside at...