It was a week for much lower US wheat prices with prices dropping by USD 10 to 16 m/t depending on the wheat type and the specifications. Trade reports say that the lower prices for wheat were related mainly to the new wheat quota set by Russia for February to June. As was noted by the trade, wheat prices will still be long-term bullish, but Russia’s action may just create a little short term over supply and weaker prices. Of course, we may just see wheat prices rally right back up come Monday......please click PDF to see more details

With this week being a short working week in the USA – many businesses were closed on Thursday and Friday for Thanksgiving holiday – the activity in the grain/oilseed markets was not at normal volume levels. However, even with days off there was still some activity in the markets........please click PDF to see more details

The USA Thanksgiving holiday is coming up at the end of next week so we may find that things are very quiet for the week since many offices/companies will only be working for three days. Of course, lots of strange things can happen to prices during holiday weeks – we will just have to wait and see......please click PDF to see more details

Goodness…what an up week this week for grains and oilseeds: USA corn was up by almost USD 10 m/t, soybeans moved higher by close to USD 15 m/t while soymeal saw a jump of close to USD 30 m/t. USA wheat prices were also strong with spring wheat getting almost USD 20 m/t and winter wheat up between USD 17 and 20 m/t......please click PDF to see more details