Chicago soft red winter wheat December futures briefly broke through the 700c/bu barrier overnight before retreating to close at 697.5c/bu. Volume in the December slot was good, 87,440 contracts, resulting in open interest of 243,592 contracts (33.12mt). Not bad considering US all wheat production, HRWW, SRWW, spring wheat, white...

Some technical weakness in the US wheat futures market, HRWW and SRWW, as we near the first notice day for the September contract. Volume in the SRWW Sept slot was not bad for this time of the month. Dec is the major month now though. The move may appear...

Corn futures at Chicago continued to push higher. The trade continue to point out just how tight the world corn stocks to use ratio is becoming. Supply has not kept up with demand over the last couple of years and the drought in Europe is reducing the global stocks...

International grain and oilseed futures were mostly higher overnight. Chicago wheat, corn and soybean futures all seeing many months with double digit gains. Kansas HRWW futures were the standout, closing just under the session high of 769.5c/bu. Better futures dragged the US Pacific Northwest FOB offers higher. Hard red...

US wheat futures were down a smidge after a sharply higher session the day before. To hold the majority of the previous sessions gains was probably a good result considering the lack of bullish data for wheat in the WASDE report. The majority of the strength was attributed to...

There’s a World Ag Supply and Demand Estimates report to have a look at this morning. I’ll concentrate on wheat. From the macro level the report isn’t as bullish wheat as what the 20c+/bu rally at Chicago might suggest. World opening stocks were increased 1.18mt, production was decreased 670kt,...

US wheat futures closed with losses across all three grades. The spring wheat condition report was expected to offer some form of support to spring wheat futures but had little impact. Minneapolis wheat futures closed 10.75c/bu (AUD$5.60/t) lower. Cash values out of the Pacific Northwest for both US and...

The USDA weekly crop progress report was out last night. The corn crop is 94% silking, 61% dough stage, 16% dented, and the crop condition rating was unchanged from last week at 48/13-61% G/E. US soybeans shed 1pt in the G/E rating, now pegged at 62% G/E. Cotton shed...

A mixed international wheat market last night, firmer in the Chicago and Paris futures markets, but there were some falls in the conversion values compared to yesterday for Black Sea and Argie product. US cash wheat values out of the Pacific Northwest were mostly higher apart from Club White...

There’s a USDA WASDE report due out mid next week, so there’s technical trade keeping US futures market somewhat de-linked from the fundamentals at present. US corn export sales were within expectation, and not bad at 1.14mt, but not enough to blow the froth off a Wall St cappuccino....