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...

Paris rapeseed futures were sharply lower in overnight trade, shedding E12.75 on the nearby contract and E9.75 in the Feb 24 slot. Taking the variation between the AUD / Euro into account this move could represent a change of almost AUD$20 per tonne locally if basis remains unchanged today....

Poland and Romania are asking the EU to track Ukraine road / rail wheat exports more closely. Local farmers in countries joining Ukraine are concerned that the flood of cheap Ukraine grain heading west and south by road is filling local homes and not making it to seaports for...

The jump in US wheat futures will generally be countered by the increase in the value of the AUD against the USD. Hard red wheat out of the US Pacific Northwest was priced on average at roughly 10.16c/bu, US$373.30 per tonne. A rough calculation determining the cost to ship...