Saudi Arabia confirmed the purchase of about 689kt of optional origin milling wheat with a delivery period of July 2022. The price paid was said to average about US$365.14 C&F, around US$12 under their previous tender results in early November. Louis Dreyfus featured heavily in the purchase with Olam,...

The Aussie dollar pushed lower overnight, briefly slipping to 69.95 before closing fractionally over 70c. The fall in the AUD will help act as a buffer for export wheat and sorghum values on Monday. The move countering a potential AUD$6.30 per tonne reduction in wheat, if Chicago SRWW futures...

A very nice recovery in US grain futures overnight, all three wheat grades closed sharply higher, corn was higher and soybeans at Chicago closed up 16c/bu ($8.29) on the nearby.  Both Paris rapeseed futures and Winnipeg canola were sharply higher, ICE putting on C$28.30 on the nearby January slot...

US grain futures were mostly firmer in overnight trade. Hard red winter wheat futures at Chicago bucked the trend and slipped a little lower. Minneapolis spring wheat was the clear winner of the wheat grades, improving 17c/bu (AUD$8.79) on the nearby. Improvements in corn and SRWW were said to...

US wheat futures were destroyed in overnight trade, technically killing the uptrend that had been in place since mid-September. Volume was also low, possibly exacerbating the move lower. Fundamental pressure was limited, mainly from the ABARES report predicting a massive Australian wheat crop, we have a good idea how...

Grains appear to have been caught up in the general market sell off in overnight trade. The financial markets were caught up in the narrative that the new variant of covid could interfere with the global recovery from covid19. So many “if’s” in world markets at the moment that...

Grain futures were generally weaker overnight, although Chicago corn futures, spring wheat and ICE canola futures at Winnipeg moved against the trend in soybeans, lower grade wheat and a general commodities sell down. The AUD, a commodity based currency, also moved lower against the US dollar helping to counter...

Canada had a day off last night, thanksgiving, so there are no ICE canola futures today. Paris rapeseed futures closed a smidge higher on the May slot and flat on the Feb slot. At Chicago corn slipped a little on profit taking, lower ethanol production and increasing US ethanol...

US corn, wheat and soybean futures were all higher. Multiple international developments look likely to support higher wheat prices in the short to mid-term. Russia said they would introduce an export quota system for the January to June slot. There was also speculation that the weekly calculation used to...

Soybeans were a clear winner in last night’s USDA World Ag Supply and Demand Estimates report. US soybean average yields were lower than expected resulting in lower production estimates. The trade had guessed yields would increase to 3.49t/ha but the USDA adjusted yields lower to roughly 3.44t/ha. Not a...