The Argentine government removed export taxes on all grains 3 days ago. The ruling will stay in force until October 31st, or until sales reach a value of 7 billion. That sounds like a lot doesn’t it. Over the last 3 days sales have totaled 4.2 billion. The move...

Chicago wheat futures improved overnight, taking back much of the previous sessions decline. There’s not a lot of fundamental news that has changed to support the recovery. Technically wheat is cheap, not only from a futures punters perspective but from a physical buyers perspective. US weekly export inspection data,...

The USDA weekly crop progress report was out overnight. With the US wheat harvest all but complete this report should have a minimal impact on wheat values. There is still plenty of speculation on US corn yields though. Around 56% of the US corn crop is now mature, with...

International grain futures are a sea of red this morning. The stronger USD hurting markets there and triggering further selling. Soybeans were pushed lower on reports that conversations between the US and China are going no where, and will probably continue to go no where ahead of next months...

At 13.1mt US wheat export sales (5.477mt Outstanding + 7.623mt Shipped) are the best they have been for this time in their marketing year as they have been in the last 5 years. Back in 2019 – 2021 Australia was suffering through a 1-100 year drought, the worst drought...

Profit taking dominated the US futures markets last night after a higher close the previous session. Momentum continues to be a thing of the past with commodity futures up one day down the next, wheat futures slowly grinding lower. The Dec SRWW contract is still above the contract low...

The AUD continued to push higher against the US dollar overnight, hitting a session high of 66.87 late, after some volatility early in the session. The US FED will meet tonight to announce if, or when, or not, they will increase, decrease, or hold steady, the official US interest...

The AUD continued to creep higher overnight, topping out at 66.73 US cents before slipping a little into the close. The AUD is higher against most of our major trading partners bar the pound, and is only a smidge higher against the Euro. The strength in the AUD is...

It’s September USDA World Ag Supply and Demand Estimates day. Was it a case of sell the rumour / buy the facts, you might say so. The wheat data wasn’t bullish, but was generally what most had expected to see. Looking at the data the big picture is 3.98mt...

There were some major corrections in Black Sea wheat values over the last 24-48 hours, downwards. Russian and Ukraine values had been holding on much better than US values, keeping a healthy premium, up until the last couple of session. Day to day changes in Black Sea values are...