US wheat futures rallied nicely overnight. All three grades putting on double digit gains. Paris milling wheat wasn’t about to be left behind either with the December contract closing E8.00 higher and the March up E5.50 per tonne. Cash prices out of the US Pacific Northwest and across the...

US grain futures at Chicago were relatively stable overnight. Soft and hard wheat generally trending a little lower while corn was a little higher as were soybeans. The biggest mover was MGEX spring wheat futures which put of 14.75c/bu (AUD$7.20) on the Dec21 contract. Minneapolis cash was also sharply...

Saudi Arabia are back in the market for 655kt of 12.5% milling wheat for arrival in Jan > April. If Egypt picked up Black Sea wheat at US$360 C&F yesterday that would have to price Black Sea wheat into Saudi Arabia at something like US$385. For the sake of...

Wheat got a leg up from corn in the Chicago session overnight. Corn found fundamental support from a EIA data showing US ethanol production at a near all-time high, producing 19.93 million barrels (159ltr/barrel) last week. The US cash market for corn was mixed with basis bids anything from...

Poor US and EU weekly export sales appear to have triggered a round of technical profit taking in US wheat futures overnight. The combination of slightly softer futures and the AUD back over 75c is expected to work against local wheat prices here today. Looking at global trade wheat...

All the action was in US wheat futures and Chicago soybeans. Wheat continued to push higher on all three US grades. Moves were a little sedated compared to last Fridays recovery but Minneapolis was a clear leader with double digit gains across all current crop contracts. Spring wheat cash...

Chickpea values in India remain under pressure after last week’s rally, prices into Bikaner this week ranged from a high of about Rs5050/Qtl to  a low on Friday around Rs5000/Qtl. Delhi was priced at Rs5215 after reaching a high of Rs5345/Qtl. Prices remain around 10% lower than the August...

Soybeans at Chicago suffered a bit of “buy the rumour, sell the fact” type trade overnight. The punter chose to ignore good US export data. Instead selling soybeans off in a round of profit taking which resulted in losses of 21.5c/bu (AUD$10.58) on the nearby contract. The fall in...

Moves higher in both international durum and canola values may struggle to flow through to local values today as the AUD continues to firm. French values for 12% durum FOB La Nouvelle were roughly AUD$6.11 firmer overnight when taking the AUD into account. Canadian values out of SE Saskatchewan...

Winnipeg canola put on C$16.70 on the nearby contract overnight. News of a resolution for criminal charges against Huawei Technologies boosted optimism that China and Canada can resolve trade issues around canola exports in the near term. Fancy that, anyone would think canola world stocks are a little low....