Technically wheat is neutral now, a week of lower closes at Chicago appears to have done its job in the futures market. There’s a good chance we’ll see technical support creep back into wheat over the next couple of days. Fundamental support will come from a dry outlook for...

It was a big selling night at Chicago with corn, wheat and soybeans all posting losses by the close. Corn and soybean futures were hardest hit as wheat has been closing lower all week. The weakness in soybean futures rolled over into both ICE canola futures and Paris rapeseed....

December SRWW futures at Chicago closed just above the session low and down a little from the previous settlement price. Volume was back a little from the previous weeks daily average. The lower close continues to push the charts away from over bought and closer to a neutral position...

Each report I read this morning is telling me a different reason why US wheat futures fell sharply last night. A fair few of the reports consider rain across the Russian wheat belt as a main reason. Looking at the graphics on World Ag Weather it shows some useful...

Technically speaking Chicago soft red winter wheat futures for December have been over bought for a week or more now and if one was to use the historical time a contract stays over bought prior to expiry one might come to the conclusion that there is potentially a lot...

US futures saw the punters pulling wheat money out, taking some profit after the recent rally above 600c/bu and placing their bets back on Wall St which saw progress on the US$2T COVID stimulus package, it was only confirmation it will not be presented until after Nov 3rd. Corn...

A combination of weaker low to mid-grade wheat futures at Chicago and a firmer AUD will keep a cap on prices today. Not that the local markets have been too wrapped up in benchmarking against US futures and basis of late. Hell, we can’t even get them to sustain...

You have to go back to the 23rd of December 2014 to find soft red winter wheat futures for the nearby contract higher than they are today. On that day we had currency of 81.27c and cash APW1 at Gunnedah was $286. Yesterday we had $288 for APW1 at...

Overnight markets were firmer in the USA with wheat, corn and soybeans all seeing small gains. The fundamentals were basically unchanged with good export orders pushing corn, potential sales pushing soybeans and dry weather driving wheat values higher. Grains may have seen an influx of funds from despondent Wall...

Dry weather in the USA, Argentina and Russia continues to be the fundamental driving force behind a further rally in Chicago SRWW futures overnight. Weekly US export sales volume was also viewed as supportive, landing on the high side of trade estimates prior to the report’s release. Pakistan picked...