There’s a lot of red on the screen this morning. Chicago wheat futures were hit hard, HRWW and SRWW suffering double digit losses. MGEX spring wheat followed, not hit as hard, but shedding most of the previous sessions gains. As mentioned yesterday, managed money is long wheat, probably not...

Some nice moves higher on most grain futures last night. Chicago soybeans were the clear winner, up 21.75c/bu (AUD$11.44/t) in the November slot. Wheat and corn futures at Chicago had double digit gains in c/bu, and Paris milling wheat closed in the green, up €2.25/t in the December contract....

Saturday: Softer corn and soybean at Chicago continued to weigh on most US grain futures. Wheat was either side of unchanged depending on the grade. HRWW was the hardest hit, but only shed 2.25c/bu (AUD$1.18/t) in the December slot. Hard red winter wheat values out of the US Pacific...

US grain export sales remain modest. Soybeans came in over the higher end of expectation, 1.034mt is a good effort. Much better than wheat at 289kt and corn at 536kt. Sales don’t equate to loadings though, so the market generally takes less notice of the sales number than it...

The US markets fell away on US centric data last night. It’s a little hard to see how this data wasn’t predictable given the reporting system in the US, but hey, the bulls need feeding every day right. Corn futures fell sharply, weighing on all grains at Chicago. The...

The CME sorghum basis futures contract is up and running, volume is minimal at this stage, just a few trades per day at present. The product is simple, a basis to the corn contract. It’s a 5000bu contract, in USc/bu, the code is MILO and it’s deliverable. It settled...

Black Sea wheat exports, Russian and Ukraine, remain half of what they were this time last year. This is the key to wheat at present, any change to this and it could have a big impact on values. The 50% pace is actually better than some analyst were projecting....

The Xi / Trump meeting produced little news for the US farmer to be bullish about. There’s the usual “it was a great meeting” rhetoric but there’s nothing out there for the media or the trade to sink their teeth into just yet. The market took the “no news”...

There’s not a lot of green on the screen this morning. Most US and EU futures are lower bar Paris corn and Winnipeg canola. NYMEX crude oil and Brent are both firmer. Nothing really fell out of bed, but the weaker closes are compounding losses from the previous session....