A Russian cargo ship was hit by drones while about 50ks off the Russian Black Sea port town of Novorossiysk. There are mixed reports of who owns this ship, some commentators claim Russia, some Turkey, some say it’s under a Cameroon flag. Most agree it was part of the...

The US national corn crop condition rating declined again this week, down another 2pts, following on from last weeks 4pt decline. This makes the US corn crop Good / Excellent rating 12pts lower than it was this time last year. Nebraska, the state everyone had been worried about registered...

Good rallies are often followed by a little profit taking in the following session. Wheat may have succumb to this last night, Chicago futures shedding around AUD$5.00 per tonne. HRWW out of the PNW FOB cash values did not follow futures lower, instead gained AUD$4.00+. If we were to...

US hard red winter wheat futures lead the US wheat market higher last night. There were good gains to be made across all grades in both cash and futures. Cash FOB HRWW out of the US Pacific Northwest jumped roughly AUD$15.94/t compared to yesterday’s conversion. Canadian spring wheat out...

The premium wheat’s in the US found the most support after the US spring wheat crop condition rating fell more than expected. Combine that news with the lower yields in wheat for France, Germany, Poland and much of western Europe, with the deteriorating political environment between Ukraine and Russia...

Chicago wheat futures found little support. Lackluster US export loadings didn’t help. At 214kt for the week it was well below last weeks volume, and also below the volume for the same time last year. It was also towards the bottom of the range of values the trade had...

International grain and oilseed futures are generally back in the green this morning. US 11.5% hard red winter wheat lead the wheat market higher there. All three of the major US grades closed higher. White wheat out of the Pacific Northwest was generally unchanged. The US drought monitor tends...

There’s a lot more red on the screen this morning. The punters were less enthusiastic to keep the momentum up after testing the limit of US HRWW futures in the previous session. The realisation that the rally had in fact pulled other producers like Australia and Argentina, who are...

It’s all about Black Sea wheat this morning and the potential disruptions to the flow of wheat from Russian and Ukraine ports. Ukraine attacked Russian boats passing through the Kerch Straight late last week. Russian authorities have temporarily closes the straight, limiting smaller grain vessel access to shallower ports...

Corn futures at Chicago couldn’t do it but wheat managed to close in the green. One would think given the current weather conditions in the US that the fear would lay in the corn crop. Granted that a lot of the corn crop is still standing in relatively moist...