International wheat futures were firmer, Chicago, Minneapolis and Paris milling wheat contracts all finding good gains by the close. Is it sustainable, if you can show me a fundamental reason why this is happening, than yeah, we can call it fundamental, but otherwise it still appears to be technical...

US weekly wheat export sales for the week ending Feb 19th were terrible, just 243kt, well below the average and highest trade estimates prior to the reports release. Obviously this data had little relevance to the futures market and nearby SRWW futures at Chicago rallied 6c/bu. Funds continue to...

It’s pretty obvious the AUD is going to play a big roll in today’s trade pricing. It has increased, in USD / tonne terms, Aussie products around the world. Aussie milling wheat and sorghum will be the hardest to stop a fall in domestic values. Both grades are primarily...

International grains, cash and futures, were mixed, no huge moves in anything. Chicago soybeans moved higher, up 5.25c/bu on the nearby. This helped sustain improvements on both Paris rapeseed futures and Winnipeg canola futures. Cash values for canola ex farm SE Saskatchewan were also firmer, up CAD$2.14/t on the...

Minneapolis spring wheat futures and Chicago soft red winter wheat futures were softer overnight, shedding some of last weeks upside. The moves in SRWW and SW were minor compared to the move in hard red winter wheat. The downside in HRWW takes the nearby values to less than soft...

Mixed data out of the US had the market scrambling to make sense out of a plethora of financial and consumer based data last night. US GDP +2.2% YoY, missing the FED target of 2.5%, also down from 2.8% in 2024. US Government spending was down 5.1%, mostly at...

More healthy gains in US wheat futures and port prices overnight have helped close the gap in the conversion between US and Aussie values C&F Asia. The discount to US HRWW to Aussie H2 wheat is now roughly US$7.00 per tonne. Considering the differences in milling characteristics this should...

Chicago wheat futures bounced higher for all grades last night. The market probably spurred on by some technical coverage and by thoughts that the USDA acreage report may tell the market US area is well back on last year. The punters are expecting to see a sown area of...

International cash wheat markets were generally flat to -AUD$2.00/t compared to yesterday. US and Canadian wheat values out of the Pacific Northwest were generally the weaker, down AUD$1.50 to AUD$2.50 / tonne for mid grade milling wheat, compared to yesterdays conversion. White wheat out of the PNW was down...

With US markets and the ICE closed last night there’s not heaps of technical data to look at this morning. AUD / USD was flat, unchanged from yesterday. The AUD did see some minor adjustments against a few of the majors though. The AUD generally trending a little firmer....