Algeria is said to have picked up 600kt of milling wheat overnight. Algeria do not make tender results public, price or volume, so the price and volume are estimates acquired from market sources. Algeria purchased wheat on both Wednesday and Thursday, probably not the best decision considering Egypt also...

Bear trap, dead cat bounce, only time will tell. Chicago grain futures were generally higher across the board last night. Wheat was more of a follower after the media began talking the Ukraine / Russia conflict down earlier in the week. Instead the market found support from the soybean...

Chicago soybean futures took a breather last night, back 13c/bu on the nearby. Weakness in beans spilled over into both Paris rapeseed futures and the Winnipeg canola. The softer AUD will go some way to buffering the decline here, potentially countering about half the value of the downside at...

Wheat futures in the US was the big winner last night. The punters are pushing the Russia / Ukraine conflict again. So far any predictions over supply disruptions of grain out of Ukraine have not be justified. This hasn’t stopped the market from continually pushing this narrative and forcing...

Overnight we saw corrections lower in US wheat, corn and soybean futures at Chicago. The weaker soybean market rolled through to a lower close at Winnipeg for canola but Paris rapeseed did manage to close E3.50 higher on the nearby and E8.75 higher for the Feb23 slot. New crop...

A quick look at last night’s USDA World Ag Supply and Demand report for wheat shows opening stocks up 1.05mt to 289.87mt, production back 2.18mt to 776.42mt. The reduction in production number is pretty iffy looking and is made up of mostly smaller reductions in a number of producers,...

Slight technical corrections lower in both Chicago corn and soybean futures were not reflected in US wheat futures. Wheat moved higher, bucking the trend in the row crops. All three grades of US wheat were firmer by the close, Minneapolis spring wheat futures gaining the most, the nearby contract...

We have a USDA WASDE report out Feb 9th US time, so we’ll see their thoughts here on Thursday. Chicago soybeans were the big winner overnight. Futures for the nearby were up 28.25c/bu (AUD$14.56). Thoughts that China will look to the US for imports in the short to mid-term,...

South Korean Major Feedmill Group, MFG, purchased up 110kt of feed wheat overnight. Reports expect to see supply of 55kt from India and the balance potentially coming from either the US PNW or Australia. I’d be backing the later on the second 55kt. US quality out of the PNW...

US wheat futures are now almost back to levels prior to when the Ukraine / Russia conflict talk first arose. Global fundamentals remain relatively unchanged so one can only assume, in the short term, we are more likely to push 20c/bu lower, rather than 20c/bu higher, in order to...