The USDA put out their September World Ag Supply and Demand report last night. It was generally what the market was expecting for wheat but the punters were expecting to see a little more bullish news on soybeans and corn. Markets responded accordingly, wheat trading higher at Chicago and...

There’s a USDA World Ag Supply and Demand report due out tonight, that came around quickly. For wheat the focus will be on both quality and quantity. There has been issues with quality across parts of Germany and Poland and there was some talk of downgrading of the spring...

Tunisia picked up 100kt of durum overnight at US$426.49 to US$428.89, let’s call it an average price of US$427.68 per tonne CFR. With Italian merchant / miller Casillo picking up the lions share of the sale it makes one wonder if it’s not Turkish durum being traded. The price...

Egypt picked up 240kt of wheat overnight, interesting to see Russian wheat not on the bill. French and Romanian wheat filled the contract, 120kt of each. The French wheat filled the nearby slot at roughly US$279.50 per tonne CiF, Romanian wheat filling the late Oct / early Nov slot...

International canola values were mixed in overnight trade. There were some sharp losses on the Paris exchange. Rapeseed futures for the Feb24 slot slipped E7.75 / tonne. The combination of a stronger AUD and the fall in Paris rapeseed futures equates to a day to day conversion difference of...

With 88% of the US corn crop in dough stage and 51% of the crop dented the USDA are pretty much calling the crop locked in. The G/E rating did slip a little in this weeks report, back from 47/11 last week to 47/9 this week, 2pts lower. After...

Chicago soft red winter wheat futures were the biggest loser last night, shedding 10.75c/bu nearby and 10c in the Dec23 slot. The hard red winter wheat and spring wheat contracts did not reflect this move lower and actually closed a smidge higher. Soybean futures at Chicago were the biggest...

The Pro Farmer corn / soybean crop tour in the USA has been on this week. Focusing more on corn, it appears yields have been mixed, some higher, some lower than expectations, but reading through the pages of field reports it appears, generally speaking, that corn yields are expected...

Egypt picked up 60kt of Romanian wheat as opposed to Russian wheat on Tuesday. This was interesting as the price for the Romanian product, US$256 FOB, was about US$4.00 under the “unofficial” floor price for offers of Russian wheat. With India in talks to acquire between 3 to 4...

The level playing field of international grain marketing. Remember that, it was the reason we disbanded the single desk marketing system. You remember that system, that thing we had to help sell wheat. Apparently it gave Australian growers an unfair advantage because it shared arbitrage, blending, freight and storage...