The USDA December World Ag Supply and Demand report hit the wires last night. Looking at the projected 2022-23 world wheat carry in and production we see carry in back a smidge to 276.27mt. We see world production is reduced 2.09mt to 780.59mt, imports are higher, domestic consumption lower,...

US soybean closed 14.25c/bu (AUD$7.74/t) higher after a couple of good sales hit the wires. China picked up 118kt of US soybeans and there was another unknown destination sale for 718kt. The strength in US soybeans rolled through to the canola and rapeseed contracts. Winnipeg canola gained C$11.60 on...

USDA report out Friday night. Last night’s rally may well have been technical trade ahead of the WASDE data, don’t be surprised if it’s a sell the fact kind of report. Grain markets have been pushed hard lower over the last month with little new fundamental news fuelling the...

Reading the wires there are still two camps in the wheat market, those that think wheat will continue to fall as the world slips into a recession after the interest rate hikes “do their job” of curtailing “supply” driven inflation. I’m still a little confused about that policy, but...

Outside markets had a large influence on US grain futures overnight. A stronger US dollar, a sell off on Wall St and softer energy markets all helping to set the mood in commodities. With the US FED now talking a slowing in rate hikes and much of the financial...

Wheat and corn futures in the US were sharply lower again last night. Soybeans found some buying interest and closed in the black while both Paris rapeseed and Winnipeg canola closed in completely opposite directions. Paris rapeseed shed E18.75 on the nearby contract while Winnipeg put on C$34.50. That’ll...

US corn, wheat and soybean futures were all lower in overnight trade. Weakness in US soybean futures spilt into the Winnipeg canola market which shed a massive C$30.70 on the nearby contract. US soybean faced an uphill battle after the biodiesel mandate news was less than hoped for. The...

The strength in the AUD threatens to undo a significant rally in both ICE canola futures at Winnipeg and Paris rapeseed futures. Paris put on AUD$21.09 on the nearby contract and Winnipeg was up close to AUD$10.31. The change in AUD/EUR is worth about -AUD$4.00. The weaker USD was...

The US grain futures market generally trended lower for wheat and corn while soybeans were just a touch higher. The big news in US corn is the announcement that Mexico, one of the USA’s major corn consumers, is considering a ban on GM corn from 2024. The US has...

Chicago wheat futures hit a three month low overnight. The market looks to blame the Chinese lockdowns and the demonstrations there. A big Russian crop is not helping either. Russian wheat is expected to feature in a number of tenders closing this week. Turkey is seeking 455kt, Pakistan 500kt...