The USDA weekly crop progress report came out after the close, so it’s not responsible for the sharp rally in US wheat futures….. yet. The rally was said to be technical in nature but also gathered fundamental support from the Russia / Ukraine war and dry conditions persisting in...

Chicago Soft red winter wheat staged a slight recovery last night dragging the premium grades higher as it did. Although closing the nearby slot +13.5c/bu (AUD$7.73) on Friday’s it did not stop a week on week decline of roughly AUD$3.29 / tonne at today’s money. Nearby hard red winter...

Tunisia picked up 25kt of durum by tender overnight. Casillo appears to be the lowest offer at US$376.49 C&F. Roughly US$7.50 less than their last purchase on April 4th. The purchase of a single load of durum is thought to be as a replacement for a rejected vessel of...

Indian pulse imports almost double year on year. The government there incentivised growers to sow more pulses but the volume of imports continued to push higher. The current chickpea crop, now being harvested or already in the “silo” in many locations, is said to have been a good crop...

The AUD continued to push lower overnight, attempting to break through the 64c mark but failing to, bouncing off 64.01 a few times only to close at that level this morning. Current and proposed policies in place in Australia only appear to be fanning the flames pushing us towards...

The USDA weekly crop progress report was out after the close. Corn planting is progressing well, 6% sown compared to the 5 year avg of 5%. Some the central corn belt states are now in the field, Iowa 4% sown, Illinois 3% and Indiana 1%. Soybean sowing is picking...

It was a tug of war in corn and soybean futures this week. CONAB and the USDA providing the muscles to move the Chicago futures markets, adding some volatility and thankfully some upside to the market fueling a recovery on Friday. Lower corn and soybean production in S.America was...

US wheat futures ignored the weekly increase in US export pace and instead focused on their disappointment in the latest monthly USDA World Ag Supply and Demand Estimates report which hit the wires last night. The WASDE showed a slight increase in US wheat ending stocks, up from 18.3mt...

The chance of US rate decreases were eroded as US inflation came in higher than expected. This saw the AUD sharply lower in overnight trade, falling 1.77% against the greenback. I wonder if those traders that blamed the stronger AUD for flat to softer sorghum prices here yesterday will...

The stronger AUD is becoming a bit of a thorn in our side yet again, putting on over 1c against the USD since this time last week. It may not sound like much but when you look at something like ICE canola futures, the move in the AUD against...