Local APW wheat basis to US wheat futures, (the difference between our cash price and the underlying futures contract for wheat at Chicago), continued to improve yesterday. Locally basis to the ASX was poor as local futures and local cash price slide lower in unison. The increase in basis...

I can find 5 market reports talking the price of grain higher, and I can find five reports talking the price of grain lower this morning. This just confirms this market is and will continue to be harder to pick than a broken nose in the short to mid-term....

There’s not a lot of green on the board this morning, the recent sell off in grains continued again last night. US and EU futures markets both lower with wheat, corn, and oilseeds all shedding value by the close. Nearby Paris milling wheat futures were hit hard, back E7.25...

The sell off in ags continued into Thursday’s session. European and US futures market were again a sea of red. Wheat wore the brunt of the fall, Paris milling wheat shedding E4.25 (AUD$6.92) on the nearby contract and the Dec 23 slot. London feed wheat futures were AUD$7.66 lower...

It’s a sea of red out there this morning, no green, sorry one green marker for Jan24 Chicago soymeal, up 0.1, that’s hardly worth mentioning. US wheat futures were all lower, pulling FOB values lower out of the Pacific Northwest. White wheat values out of the PNW had shown...

From an international perspective the slightly stronger AUD is worth a cut of $2.00 to $3.00 to prices today regardless of what the underlying futures or cash prices have done overnight. Fortunately, most international futures markets were flat to firmer. Paris rapeseed futures again showed impressive strength, closing E16.50...

The international wheat market remains a moving target. The political fundamentals often changing on a daily basis. At the moment the focus is on the banning of Ukrainian wheat from entering Poland, Hungary and Slovakia. When Ukraine was invaded the Ukraine government stopped Black Sea wheat exports. This was...

It’s pretty much a sea of red at the world’s major futures markets this morning. Chicago soybeans and Paris rapeseed are the worst performers. Paris rapeseed shed E11.75 on the nearby contract and E10.00 on the Feb24 slot. Looking at movement between the AUD and the Euro the move...

Canola and rapeseed futures were nicely higher in overnight trade. The links between crude oil and vege oils proving to be the catalyst. With OPEC members and some other oil producing nations agreeing to lower crude production by about 1.5mb/d, the impact this would have on crude oil values...

The USDA are predicting that the US will plant around 1.78 million acres of durum this year compared to 1.63 million acres last year. Big call looking at the current prices, they have fallen a lot since this data was collected. As usual the USDA continue to play 30-60...