Prices 18/1/19

In the US futures market technical buying was supported by ongoing poor weather across parts of S.America. The extremes across S.America at present are interesting. Drought continues across parts of the Brazilian soybean regions while further south in Argentina some parts of the country have seen in excess of...
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Prices 17/1/19

The punters continue to suggest Russian wheat export restrictions are immanent while the Russians continue to announce everything is OK and there will be no restrictions. I guess it depends on your book than doesn’t it, long you take the punters side, short you take the Russian side of...
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Prices 16/1/19

More technical trade and continued pessimism in regards to a China / US trade deal being struck dominated the main session at Chicago. Corn and soybeans were the products hit hardest dragging wheat lower by the close. For soybeans talk that yields in Brazil were although lower than average,...
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Prices 15/1/19

One of the few reports making its way out of the USDA at present is the USA weekly export inspections report. This is grain that has been loaded for export. Wheat surprised the punters with around 545,804 tonnes listed as being loaded for the week ending Jan 10th. The...
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Prices 14/1/19

Futures in the USA clawed back much of the previous sessions losses overnight. The key to wheat at least may at last lay with the Russians (like we didn’t know that). Markets reacted to rumours that Russian officials had asked exporters to slow the export pace during the second...
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Prices 11/1/19

Russia picked up the Egyptian tender earlier this week with 415kt of milling wheat being booked at an average price of US$264.91 CFR for Feb / March. Some punters were expecting to see US or even EU wheat get a look in on this tender but Russia continues to...
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Prices 10/1/19

US wheat futures were helped higher by large weekly international tenders. The general sentiment was the need to see a USDA report to gain further direction but in the absence of the monthly reports the market looked at increasing global demand as a reason to push prices slightly higher....
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Prices 9/1/19

Wheat futures traded a narrow range to closed mostly flat to lower for the session. There was some technical trade but let’s just call in buy the rumour sell the fact for now. The technical guys are punting around the USDA WASDE report. I think a more exciting punt...
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Prices 8/1/19

As expected weekly US wheat export inspections were poor. It did have a negative impact on wheat values but it wasn’t as big a deal as those looking to sell were making it out to be. At just 260kt it is indeed well below the weekly volume required to...
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Prices 7/1/19

Technical buying continues to assist US wheat futures higher. The punters are trying to underpin this rally with thoughts of increasing US exports as Black Sea volume declines over the next couple of months. Without the USDA reports coming out of the States to back up this assumption the...
Read More: Prices 7/1/19