23/4/22 The Aussie dollar continued to fall in overnight trade, back sharply against the US dollar. The better yields in the US will continue to draw US dollars back to the US. The fall in the AUD is roughly equal to AUD$9.35 to wheat values vs US futures. The...

The US futures market saw some profit taking dominate wheat futures in overnight trade. One needs to remember that longer term, futures prices spend less than 5% of their existence, if any time at all, in the top 30% of historical prices. Those long wheat futures at these levels...

US soybean futures lent support to corn in overnight trade. The same weather fundamentals in the USA currently apply to both row crops. Wet, cold weather in the forecast and over the last week have most analyst expecting a slow start to the sowing season for both corn and...

A late harvest in the Indian provinces of Punjab and Haryana (27% production) combined with a poor growing season is probably going to take India, the recently proclaimed saviour of the wheat industry now that Ukraine / Russian exports have slowed, out of the wheat export market completely according...

4 day weekend, where do I start. Well it got to -13C across parts of NW Kansas prior to the break on Thursday. I’ve seen pictures of 2 metre snow drifts in Minnesota and North Dakota. There’s currently a freeze warnings, 27F or lower, in place at Kansas City,...

Egypt confirmed the purchase of 350kt of wheat on Wednesday. EU countries filling the void left by the limited grain offered out of the Black Sea, Egypt’s usual counterparty. Egypt had dangled the carrot in front of India but it appears that in the latest purchase Egypt shunned the...

Hard red winter wheat futures at Chicago closed higher again. Quickly approaching values last seen prior to the sharp selloff back at the beginning of March. The jump in the AUD might take a little of the temptation away to follow US markets higher but the trades ability to...

With USDA weekly crop progress reports now up and running, Tuesdays will be at least half interesting again. With the cold weather once again pushing across the northern USA we see average temperatures dropping to as much as 10F to 15F below normal across the SRWW belt and much...

The USDA WASDE report for April was out overnight, almost sneaking under the radar with everything else going on at present.  The report was generally bullish, pouring a little petrol on an already smouldering market. The USDA confirmed their thoughts that world corn stocks will climb a little this...

It’s a strange world out there at present, skimming through headlines is simply an exercise in futility. Today I can look at an analyst report and see one story about Brazil increasing wheat production so as to become a net exporter. While on the same page there’s also a...