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...

Buenos Aires Grain Exchange reviewed their expectation of the Argentine wheat crop lower. Now estimated at just 14mt, some 26% below the 5 year average. In the October USDA WASDE report Argentine wheat production was estimated at 17.5mt. So we should expect to see a significant reduction in this...

US grain futures were a little more subdued in last night’s session. Although generally a sea of red, wheat, corn, and soybeans all lower, wheat and corn were not as hard hit as soybeans. In fact, the sharply weaker AUD today should easily counter the AUD$3.21 move lower in...

I can see Putin at the office now, “I’ll show you guys how to make some money on wheat options, watch this”. So the grain corridor deal is back on again. As you would expect the news hit the market prior to the open at Chicago and wheat futures...

Corn, wheat and soybean futures at Chicago all closed higher. Corn was technically a follower of soybeans and wheat. Wheat is finding continued support from the Ukraine / Russia war. The protest by truckers in Brazil over recent election results have some punters thinking that soybean exports may in...