Russia reduced its wheat export tax for the following week by US$3.93 to US$80.75 per tonne FOB. Traders and farmers have been canvassing the government to further reduce the export tax on wheat. With a record crop likely this year the only thing supporting an export tax is grade....

International analysts are torn between “we are about to see the biggest bear market of all time”, to “the lows are in, get ready for a massive jump”. There is basically a report out there to cover any sentiment you wish to carry now. Only time will tell who...

The USDA World Ag Supply & Demand report was out last night. The focus was generally on corn production estimates in Europe and the US, wheat production in Russia and Ukraine exports / ending stocks. Starting at the beginning, US corn production was reduced from 368.44mt last month to...

Chicago corn, wheat and soybean futures were all higher. Add new crop Paris rapeseed and ICE canola to the list and we have good chance for some spill over upside here today.  The AUD is still a thorn in our side though, pushing above 71.3c midsession, and closing above...

Some nice moves in US wheat futures overnight could basically be countered by a 1.69% rally in the Aussie dollar against the greenback today, not exactly what we were hoping for. The US markets were generally about weather and squaring up prior to Friday night’s USDA WASDE report. Soybeans...

Seeing some conflicting reports out of Russia regarding the quantity and quality of the wheat crop. For most of the growing season the Russian wheat crop has simply been getting bigger and bigger with some reports suggesting that a crop as large of 97.5mt was on the cards. As...

Philippines passed on their tender for 150kt of feed wheat and 150kt of feed barley on Friday. This appears to be a strategy to reduce prices as they were not in line with expectations. The announcement last week that Ukraine wheat would soon be back in the mix had...

At Chicago corn held onto gains while wheat and soybeans were lower. Thankfully, the weakness in outer month beans didn’t flow through to the canola market. Paris rapeseed for the Feb23 slot and the Jan23 slot at Winnipeg both closed with small gains. Week on week Paris rapeseed did...

The US drought map and the forecast of more hot, dry weather for the western corn belt played a big role in last night’s recovery in soybean and corn futures at Chicago. Wheat futures were supported not only by spill over buying from the row crops but also from...

Talk of severe thunderstorms leaving up to 14″ of rain in some parts of the central corn belt has done little to support US corn futures, which again slipped lower. Nearby corn, wheat and soybean futures all continued lower, closing with double digit declines. Winnipeg canola was back on...