The USDA WASDE, World Ag Supply & Demand Estimate report, is out on the 8th of Feb US time. So, we should see the details on Thursday morning here. The punters are backing an increase in Australian wheat production, something which has generally been factored into the equation since...

It’s all about the Aussie dollar today. Overnight weakness against the USD saw the AUD fall of 2.13%, closing the session closer to 69c than 71c where it spent the last half of the week. The decline in straight up Aussie dollars per tonne is worth between AUD$10 and...

Egypt, GASC, is seeing wheat offers for their latest tender coming in between US$353.75 and US$322.80 per tonne. If Australia was to try and compete into this market accumulation would need to occur at something close to $315 XFLPP, that’s not going to happen, especially for milling wheat. Russian...

The funds continue to sell Chicago SRW wheat futures lower, happy extending their short positions for the time being. Some analysts continue to talk this market up, it’s easy to see why with the volatility of the Black Sea market and poor conditions in the US and the chance...

US wheat futures found support from both the technical side and the fundamental side of the market last night. Technical short covering / profit taking was noted as January closed out. Fundamentally the condition the US HRW crop went into winter is now regaining some traction as we near...

The big mover last night was Chicago soybeans. The jump in beans dragged both Paris rapeseed futures and Winnipeg canola futures higher. The softer AUD should also help local values here today. Chicago beans put on 25c/bu (AUD$13.00), Paris rapeseed for the May23 slot was up E4.25 per tonne...

Iraq was said to have bought 150kt of milling wheat from Viterra Australia on Wednesday at US$445 C&F. The wheat is set for shipment in April. On the back of an envelope this might equate to a value XF LPP of something close to AUD$485, much higher than current...

US wheat futures closed higher in overnight trade taking values to a week on week rally and taking MGEX spring wheat futures to a price point higher than January 1st. MGEX cash price were sharply higher. The rally could be seen as technical. Wheat futures at Chicago had amassed...

Technical Tuesday, call it what you will. US wheat futures found the need to recover from Monday’s losses. Although not recovering dollar for dollar a slight recovery was noted. Further strength in the AUD will somewhat counter the move here, the jump in the AUD worth is about -$AUD1.67/t....

US wheat futures were sharply lower in overnight trade. Hard red winter wheat lead the market lower, shedding 27.5c/bu on the nearby and 25.25c/bu in the December 23 slot. Minneapolis spring wheat wasn’t far behind with Chicago soft red winter wheat falling roughly AUD$11.26, the move likely to be...