Indian weather is creating some concern for the quality and quantity of both the wheat and chickpea crop there. Domestic Indian values have increased, chickpea putting on roughly AUD$18 per tonne when taking movement in the AUD / Rs into account as well. Harvest on what we would call...

US wheat futures rallied higher overnight. Speculative trade on thoughts that Russia may put some form of export restriction on wheat to manipulate prices higher seemed to be the catalyst. The Russian ministry had “suggested” that the export pace of Russian wheat be slowed yesterday. Could it be this...

There’s a lot of talk of the Chicago wheat / corn spread from the technical traders. No one seems to be saying that they think wheat will go higher or corn will go lower but they are saying that the current spread is indicating we may see one of...

Chicago wheat futures pushed lower again overnight. With volume towards the thinner side of expectations punters short soft red winter wheat futures remain in the driving seat. The continued pressure on wheat futures in the US has many analysts perplexed. With a net short position of roughly 200k, or...

The downward trend in Paris rapeseed futures and Winnipeg canola remains firmly intact. Paris rapeseed shed E12.75 / tonne on the nearby contract last night. Taking moves in the AUD / Euro into account the fall equates to AUD$12.17 per tonne. The sharply lower AUD against the Euro is...

The Grain Corridor deal is doing a good job of keeping everyone a little confused if nothing else. Russia is saying that because they objected to the extension for 120 days and suggested that the deal be extended for just 60 days that the deal is indeed up for...

Some more US corn booked by China in another “flash sale”. This time around it’s 677kt, so that’s 1.289mt in two days. Chicago corn futures rolled over and tapped the alarm clock for a non-start, unless you consider a 5.75c/bu (AUD$3.42) higher close in the May slot a worthy...

The New York Stock exchange saw an unusually large number of company shares being suspended from trade on Monday. The failure of Silicon Valley Bank and subsequent bail out sent a ripple through the market place. This does tend to muddy the water significantly for grains as outside market...

Black Sea grain corridor deal looks more certain, today…… I mean really has it ever looked uncertain over the last couple of weeks. The Russians have objected to a few things but really, does it make any difference to the Russians, no, no it doesn’t their grain export pace...

US wheat futures closed higher, not eroding week on week losses but taking back a slice of the previous sessions loss. Hard red wheat fared best, as one might expect to see given the weather outlook for US states like Texas, Oklahoma, and Kansas. The HRW contract is interesting...