US wheat futures were destroyed in overnight trade, technically killing the uptrend that had been in place since mid-September. Volume was also low, possibly exacerbating the move lower. Fundamental pressure was limited, mainly from the ABARES report predicting a massive Australian wheat crop, we have a good idea how...

Grains appear to have been caught up in the general market sell off in overnight trade. The financial markets were caught up in the narrative that the new variant of covid could interfere with the global recovery from covid19. So many “if’s” in world markets at the moment that...

Grain futures were generally weaker overnight, although Chicago corn futures, spring wheat and ICE canola futures at Winnipeg moved against the trend in soybeans, lower grade wheat and a general commodities sell down. The AUD, a commodity based currency, also moved lower against the US dollar helping to counter...

Canada had a day off last night, thanksgiving, so there are no ICE canola futures today. Paris rapeseed futures closed a smidge higher on the May slot and flat on the Feb slot. At Chicago corn slipped a little on profit taking, lower ethanol production and increasing US ethanol...

US corn, wheat and soybean futures were all higher. Multiple international developments look likely to support higher wheat prices in the short to mid-term. Russia said they would introduce an export quota system for the January to June slot. There was also speculation that the weekly calculation used to...

Soybeans were a clear winner in last night’s USDA World Ag Supply and Demand Estimates report. US soybean average yields were lower than expected resulting in lower production estimates. The trade had guessed yields would increase to 3.49t/ha but the USDA adjusted yields lower to roughly 3.44t/ha. Not a...

Corn and wheat futures in the US stabilised while soybean futures at Chicago slipped a little lower. During October Chinese soybean imports slipped 41.2% from the same time during 2020. Importing 5.11mt this Oct vs 8.69mt last year. China continued to chew through a poor winter crop with feed...

US corn, wheat and soybean futures at Chicago all followed the same path lower, a the trend this week. Profit taking and positioning prior to next Tuesdays WASDE report seems to be the key to it all at present. Chicago Dec wheat does appear to be looking a little...

US futures were lower as traders look to “square up” a little prior to next week’s WASDE report, continue to take profit and roll December futures contracts. The lower volume and liquidity at Minneapolis lead to significant pressure on both cash and futures for spring wheat. The decline in...

Profit taking in wheat futures at both the US and European exchanges saw futures values for wheat lower in overnight trade. With the December slot closing in on the punters those not looking to be executed would start to liquidate or roll their long position over November. This may...