The Black Sea conflict remained the key driver of the global wheat market throughout July. However, ongoing attacks on grain export vessels and infrastructure failed to prevent wheat futures from declining over the second half of the month. Since 24 July, December 2026 CBOT......
The South Australian canola crop is looking exceptional at this stage following ideal growing season conditions. Timely seeding and above-average rainfall have advanced crop development, with some crops now flowering for more than a month. With an increase in planted area due to relatively high......
The Russia–Ukraine conflict has once again shaken cereal markets following Russia and Ukraine trading blows over shipping in the Sea of Azov and the Black Sea. As the Sea of Azov handles around one-quarter of Russia’s grain exports, the disruption on 10th of July has......
The recent Black Sea conflict reminded markets that the Russia–Ukraine war remains an ongoing risk to global wheat markets. The rally was triggered by Ukraine’s drone attacks on Russian vessels and infrastructure in the Sea of Azov, prompting Russia to temporarily halt shipping in......
New-crop 26/27 lentil prices have declined roughly $50/MT over the last month on a delivered Adelaide and Melbourne basis, now circa $600/MT. A primary driver behind the decline is the improving new-crop prospects for Australia, with ABARES pegging production at a record 2.2MMT. According......
ABARES forecasts the 26/27 Australian canola crop area at 3.5Mha which is down slightly y/y by 0.2Mha and at trend yield, production is forecast at 6.2MMT down 1.5MMT y/y. SA and Vic 26/27 canola crops have experienced exceptional growing conditions for the start of......
Over the past month, new crop wheat prices in SA and VIC have declined by approximately $25/MT, while old crop values have eased by around $15/MT. Local cash markets have been pressured by widespread rainfall across Australian cropping regions, improving production prospects, alongside bearish......
Global feedgrain markets remain comfortable on paper, and barley continues to trade in the shadow of a large corn balance sheet. South America remains the main pressure point, with Brazil’s total corn crop estimated near 138MMT, of which the Safrina corn crop is still......
Old-crop lentil prices have continued to drift lower, despite a recent pullback in the Australian dollar and limited grower selling liquidity. The seasonal strength seen through April and May has faded, and old-crop bids are now converging with new-crop indications, which are sitting around......
The South Australian 26/27 canola crop is off to a flying start with seeding nearing completion and early vigour has been excellent. Following poor starts in the previous two seasons, the first half of 2026 has been a sharp contrast. High rainfall through March......
Over the past month, SA and VIC wheat prices have traded within a $15/MT range. In the first half of May, SA and VIC prices increased to $360/MT and $375/MT respectively. The rally underpinned by stronger futures markets on the WASDE report release, which......
Barley markets are heading into the 2026/27 season with a fairly balanced outlook, although weather risks are becoming more important, most notably for Australia’s east coast. Global supply is still comfortable after a strong 2025/26 production year, but the market is no longer trading purely......
The global lentil market is entering the 2026/27 season with historically large supply levels, but also with a potential increase of weather risks to new season production. Record production across Canada and Australia during 2025/26 has resulted in high carry-out stocks, particularly in Canada,......
South Australian canola prices for the 26/27 season broke above $800/MT for the first time last week. Canola prices have been in a steady uptrend since the beginning of the year, and the latest strength continues to be coming from higher global crude oil......
Since early April, SA and VIC new crop prices have increased by $7/MT, mainly driven by dryness across the East Coast of Australia and stronger global wheat markets, supported by ongoing tensions in the Middle East and persistent dryness in the US winter wheat belt.......
Barley is finding support heading into the 2026 season, although the broader outlook still suggests upside may be limited for now. As planting ramps up across southern Australia, the season is arriving with a mix of encouragement and caution. Opening soil moisture has been some......
Lentil prices have recovered from post-harvest lows to approximately $700/MT on both an Adelaide and Melbourne basis, seemingly consolidating around this pricing point. This recovery has been supported by strong export performance and limited grower selling. A stronger Australian dollar is placing downward pressure......
The SA canola crop is off to a cracking start with seeding underway and plants out of the ground in some early regions in the first week of April. Well above March rainfall through SA has provided growers with confidence to seed this year......
Over the past month, US wheat futures have rallied sharply, with May soft red winter gaining 19 USc/bu and hard red winter surging by 70 USc/bu. The move has been primarily driven by escalating tensions in the Middle East, which have significantly disrupted trade flows......
As growers shift focus toward seeding the 2026/27 crop, attention is turning to new crop pricing against a backdrop of rising input costs and tightening margins. While planning for the season ahead is well underway, barley continues to hold its own, supported by strong demand......
Nipper lentil prices in SA and Vic have steadied around $660-665/MT on a delivered Adelaide/Melbourne basis. This price stability has resisted the high volatility experienced by the Aussie dollar, a facet that would normally see far stronger daily price swings. One of the primary......
Global oilseed futures prices have experienced extraordinary volatility, being led by crude oil prices. Around 30% of global oilseed production is used to manufacture biofuel, which competes with diesel and petroleum. Rapeseed is used for in the EU for ISCC biofuel manufacture and the......
Over the past two months, US wheat futures have rallied strongly, driven by managed funds covering their large net short positions amid persistent dry conditions across key US growing regions and escalating tensions in the Middle East. As of 24 February, managed funds were reported......
As growers shift their focus from harvest toward summer spraying and early planting plans, strong export demand continues to absorb Australia’s record barley crop. Globally, prices remain relatively steady; however, a firmer Australian dollar is tempering local returns and capping upside in domestic values. Domestic......
South Australian canola production rebounded in 25/26, with production estimated at 507kMT, up 155kMT (44%) on the drought impacted 24/25 season and returning to the 5-year average. The area seeded in 25/26 was slightly below average at 226,000ha, however a cool and late wet......