Turkey picked up 220kt of feed barley by tender yesterday. The average price was estimated at US$283.71. On the back of an envelope this would equate to something close to AUD$280 XF LPP. This is pretty cheap. Russian feed barley had been indicated at US$273 FOB. This tender value...

Chicago soft red winter wheat and hard red winter wheat futures staged a minimal recovery overnight, both closing in the green. Minneapolis spring wheat futures went the opposite direct at the futures exchange and out of the PNW cash market. London feed wheat was slightly weaker and Paris milling...

Wet weather in Brazil continues to delay both the soybean harvest and the late plant corn crop. The trade suggests that at least 20% of the late corn will be sown later than planned. This could see a yield reduction if the season does not go with the crop....

The dry weather across most of the Australian wheat producing regions got a mention in international wires overnight. Not that it makes much difference to a fund manager with a fist full of sell orders. By the end of the session at Chicago all three US wheat grades were...

Egypt picked up 240kt of Russian wheat this week for shipment during the first half of April. The price was said to have been US$317.50 C&F.  On the back of an envelope this is equivalent to somewhere around AUD$350 XF LPP, Australian milling wheat was never in the mix...

Chicago soybean futures, ICE canola futures at Winnipeg and Paris rapeseed futures were all lower in overnight trade. Paris was off E12.25 on the August contract. Taking the AUD / Euro into account that’s equivalent to about -AUD$22.10. All three oilseed contracts continue to trade as if nothing has...

Conditions across the eastern parts of the US winter wheat belt are improving. The hard red winter wheat belt remains mixed, the contrast between east and west in remarkable. Reports of wind blowing cover crops away in the west opposed to conditions being all but ideal in the east....

The market wires at the start of the US session appeared to place little importance on the frost event in Argentina. Instead choosing to concentrate on the returning heat in Argentina. As confusing as that is to anyone who follows fundamentals, either narrative is bullish ish. I just find...

The big news, fundamentally, yesterday was the Saturday morning frost in Argentina. One would assume that frozen soybeans may put a significant rush of blood into the world oilseed market. With the US having a public holiday, markets do appear to have missed that caffeine fuelled speculation, and additional...

The big winner in last night’s futures markets was Paris rapeseed. The nearby contract put on E11.25 with the August slot up E11.75 and the November slot also up E11.00. I’m not seeing a tonne of reasoning behind this rally in the commentary this morning. French area for winter...