Hello Rishi Sunak, the Steven Bradbury of UK politics, anyone got a stopwatch. Saudi Arabia picked up 566kt of 12.5% milling wheat at tender last night at an estimated average value of US$384.74 for March / April 2023. Turkey was said to have picked up 495kt of wheat on...

In US dollar terms many grains at the international level were higher overnight but a sharp rally in the AUD against a number of the majors and the USD could turn potential positives into negatives. Chicago SRWW futures were flat to firmer, closing about AUD$0.86 per tonne higher. The...

The sentiment in wheat changed overnight, more punters now assuming that Odesa will be closed from November and the export corridor deal will not be extended, if it even makes it to the expiry date. In the US wheat found support from strength in corn and soybean futures, export...

International markets were either side of unchanged. Canola and rapeseed futures found support from slightly stronger US soybeans and a firmer US dollar. Wheat prices were mixed, generally softer at the FOB level for North America. Corn futures at Chicago, although closing lower, did find support from some showers...

Wheat, corn and soybean futures at Chicago all closed sharply lower. The stronger US dollar is not helping US grain exports, making the most expensive grain in the world more expensive for many. A H2 type red wheat out of the US Pacific Northwest is now priced around US$405...

US corn, wheat and soybean futures closed in the green overnight. Some bargain hunters were in the mix for wheat after the last couple of weaker closes. There was a little buying support still there in soybeans and corn from the USDA data. The major support in wheat came...

This month’s USDA WASDE was out last night. Corn and wheat didn’t find a lot of joy in the report, but soybeans and oilseed products were helped along by lower US soybean yields and production. The move in US soybean futures spilt over into the Winnipeg canola contract which...

The sharp surge in US wheat futures in the previous session triggered a little profit taking overnight, pushing futures lower. Technical positioning prior to the release of this week’s monthly USDA World Ag Supply and Demand Estimates was also evident. Fundamental weakness for wheat was found from talk that...

What a market, you can be 100% bearish in the morning and then 100% bullish by the afternoon, and you don’t even need to be wrong to have that change in sentiment. Whenever politics is in control of something you can bet on one thing, volatility. The markets took...

Bargain hunters were in the mix last night, picking up corn and soybean futures at Chicago thus lending a hand to the wheat market. The main three US  wheat grades were higher by the close, not jumping up and running away but firmer. The value of the rally in...