Chicago SRWW and HRWW futures closed lower again in overnight trade. Technically these two grades of US wheat look very oversold and are looking very likely to have at least a technical correction in the near term. Fundamentally wheat is probably seeing as much positive news as it is...

The grain corridor deal between Ukraine and Russia has been extended another 120 days (March 19th). This news was generally expected and appeared to have minimal impact of the MATIF milling wheat contract, which rallied AUD$7.36 per tonne on the December contract. US wheat futures pushed lower after the...

The ending of daylight savings time in the US and Canada has seen the delay in the availability of some market data in the morning while I prepare the morning comments. If there are major adjustments to be made to price comparisons or some news influences physical price analysis...

Wheat, corn, and soybean futures at Chicago pushed higher. Aided somewhat by the weaker US dollar and hindered somewhat by the lower river levels. Higher FOB values don’t mean much if you can’t get the grain to port. The stronger soybean close at Chicago rolled across to a better...

The big news was the Saudi purchase of 1mt of wheat for April / June next year at an average price of US$382.56 per tonne. The wheat is required to be 12.5% protein hard wheat. The tender saw offers from all the major exporters, including Australia. The seller has...

Tunisia booked 100kt of milling wheat, 100kt of durum wheat and 50kt of feed barley last night. The durum was made up of four parcels done at CFR Tunisia and averaging a price of just under US$532. On the back of an envelope, we can use this number to...

Officials from Russia, Turkey, Ukraine, and the UN are set to meet at Geneva on Friday to discuss the continuation of the Black Sea grain corridor. Most punters seem to think it’s a done deal. 2022 has not been a great year to assume anything, but one would tend...

The USDA WASDE report for November lived up to expectations for wheat, not much to it really. Both carry in and production was increased, imports were reduced, and domestic consumption was increased resulting in a slight increase in carry out of 280kt, to 267.82mt, still to higher for current...

Technical positioning ahead of the WASDE report due out tonight dominated trade in the US markets. Traditionally the November WASDE is a bit of a nothing report and is not remembered for influencing the market. 2022 is not a year to be taken lightly though is it, so the...

The main focus on Chicago was the weakness in the soybean pit. China, the key to beans as usual, continue to talk of larger imports from S.America and also push forward with their Zero Covid policy, stifling demand A policy which is looking to be more affective in population...