It was all about US soybeans last night. Chicago bean futures rallied 34.5c/bu (AUD$17.50/t) on the nearby contract.  Spill over buying was evident in both Winnipeg canola and Paris rapeseed. The AUD was a little firmer, countering the move at Winnipeg by less than a dollar, so in theory...

Sharp gains in US wheat futures for the second night in a row. Soft red winter wheat futures are now up US$14.23 / tonne since this time last week, hard red wheat futures up US$8.08 / tonne and Minneapolis spring wheat futures are up US$7.07 per tonne. So at...

US wheat futures found support from surging US wheat exports, up 58% week on week, not hard considering the previous holiday efforts but still healthy at 369kt none the less. The USDA have US white wheat exports pencilled in at 4.08mt. Current year to date exports at 3.09mt. White...

The US markets were closed in recognition of Martin Luther King Jr Day. So little feedback from the states in today’s reports. Looking at grain futures markets in Europe we see milling wheat was a little higher, old crop up E2.25 in the March contract at Paris and the...

Bargain hunters were active in the corn pit at Chicago, pushing prices off a one month low. Not so in wheat and soybeans, both suffering another session in the red. Paris rapeseed broke a 4 day losing streak, recovering E29.75 (AUD$47) on the nearby contract. Strength in Paris rapeseed...

The prospect of a little rain across Brazil and Argentina seems to have fuelled much of last night’s decline in US grain futures. Looking at the forecast from World Ag Weather we see Argentina is expected to receive around 15 – 30mm of rain across much of the Pampas...

Another USDA report come and gone. Starting with wheat we see world opening stocks 820kt lower, production increased by 710kt to 778.6mt, slightly lower domestic consumption and slightly lower exports netting in a 1.77mt increase in world ending stocks to 279.95mt. Realistically not much of a change but at...

It was all about wheat last night with a number of global tender and sale announcements, if not physically, psychologically influencing the demand side of the equation. The flip side, yes there’s always a flip side. Is the possibility that this move higher is simply a bear trap being...

In the USA we see Chicago soft and hard wheat futures a tad firmer while we see MGEX spring wheat futures continue to slip away, converging with new crop values. Cash bids for spring wheat out of the PNW were flat. Canadian values mixed but generally slipping lower, in...

The Buenos Aires Grain Exchange have raised their forecast for the Argie wheat crop. With harvest all but complete this number should be pretty close to a final estimate and at 21.8mt is not a bad crop at all given the choppy season. The record Argentine crop and the...