GFM Network News

CBOT March 2019 wheat with Bollinger (20,2) bands. (Barchart)

U.S. grains: Wheat retreats from five-week high

Chicago | Reuters — U.S. wheat and corn futures closed lower on profit-taking and a lack of market-moving news on Thursday while soybeans firmed, buoyed by concerns about the size of Brazil’s crop. Chicago Board of Trade (CBOT) March wheat settled down 4-1/2 cents at $5.21-1/2 per bushel (all figures US$). CBOT March corn ended […] Read more

World crop briefs: Russia makes wheat pitch to Algeria

CNS Canada — Russia is attempting to crack Algerian wheat markets open, according to reports from Bloomberg news agency. Russia recently hosted a tour of Algerian officials and plans to send a trial shipment of wheat to Algeria soon, the agricultural agency Rosselkhoznadzor told Bloomberg. Russian wheat exports to Algeria have previously been limited because […] Read more

(Stephen Ausmus photo courtesy ARS/USDA)

U.S. grains: Wheat down on weak export demand

Chicago | Reuters — U.S. wheat futures fell for a third straight day on Wednesday, pressured by plentiful global supplies and strong competition for export business, especially from Russia, traders said. Corn fell, following wheat, and soybeans also declined after a choppy session. Chicago Board of Trade December wheat settled down 4-3/4 cents at $4.30 […] Read more

Sunset in Egypt on the Nile River south of Luxor. (

Egypt tightens import quarantine rules on grains

Cairo | Reuters — Egypt has tightened its agriculture quarantine regulations, imposing a rule that will prevent grain shipments suspected of contamination from being offloaded until they receive test results, according to a letter sent to traders Monday. The rule comes just one month after the world’s biggest wheat buyer discontinued its controversial zero tolerance […] Read more

(Photo courtesy Canada Beef Inc.)

Russia-Turkey tensions stymie new wheat deals

Reuters — Political tension between Russia and Turkey has put a brake on new wheat deals between the two countries and created uncertainty about existing agreements, traders said Thursday. Relations between Russia, one of the world’s largest wheat exporters, and Turkey, the largest buyer of Russian wheat, have quickly deteriorated after Turkey shot down a […] Read more

(Canada Beef Inc. photo)

Iran cancels import duties on wheat, barley

Dubai/Moscow | Reuters — Iran has canceled import duties it imposed on wheat and barley in July, according to an official document seen by Reuters on Tuesday. The document said the import duties ended on Sept. 6 for wheat and on Aug. 22 for barley. It gave no reason for the cancellation. The Iranian government […] Read more

one dollar banknote among wheat grains

New wheat-marketing system isn’t just a mess — it’s a great big mess

With Canada’s wheat selling at a discount to Russia’s, it’s time 
to admit the new open market isn’t working as it should

Reading Time: 3 minutes Critics of the Canadian Wheat Board used to routinely point to published price quotes for U.S. Dark Northern Spring (DNS) wheat from the Pacific Northwest (PNW) and assume that was a benchmark price for all wheat sold in the world. If the board got less, it must have screwed up, said the critics. In fact, […] Read more