The wheat market is going to take a little digesting today. The response in US futures was excellent, maybe a little over cooked but time will tell us if that is so, I guess. Let’s have a look at the major influences that pushed wheat futures higher. I’ve covered...

Yesterday’s Egyptian wheat tender was interesting. It helped to discover price, but it also helped to discover what was not acceptable. Russian wheat was said to have been the cheapest at US$260 FOB. Ukraine wheat was offered at US$255.50 but had the proviso against the offer that it was...

Russian rockets raining down on Ukraine, more and more punters expecting to see the Black Sea Grain Corridor deal abandoned, much of western Kansas and eastern Nebraska still in terrible drought, the Canadian prairies and US spring wheat belt seeing big sowing delays. What do US wheat futures do,...

With the May futures contracts for wheat, corn, soybean, rapeseed, and canola all approaching first notice day, volume in the nearby contract is low thus we are seeing an increase in volatility related to fewer transactions having a larger impact on price. Look to the July or outer months...

US wheat futures and cash prices out of the Pacific Northwest continue to slide lower. I’ve attached a chart converting the PNW values for wheat back to a rough ex farm LPP price using China / Japan as a consumer base. The chart incorporates daily fluctuations in the value...

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...