Technical selling was a feature of the US futures markets last night. Profit taking pushed wheat, corn and soybeans futures lower but nothing was really hit for six. Minneapolis wheat was the worst of the wheats shedding 7.25c/bu (AUD$3.50) by the close. Fundamental news in the corn pit was...

US wheat futures continued to push higher as dry weather in parts of the USA, Russia, Canada, Brazil and Australia continues to put a floor in values. We also see many major exporters chewing through ending stocks that had built up over the last couple of years. For example...

Wheat futures in the US managed to close higher in overnight trade. Corn and soybeans futures were higher but only marginally so. With temperatures increasing across the US winter and spring wheat belt those locations that are suffering from the dry will start to hurt. Large swathes of the...

Soybeans futures soared while wheat gave back a good slice of Friday night’s gain, corn futures were flat. The weather map generally tells the story in the states with the 7 days map showing some useful falls are expected across the central corn belt this week. The eastern cotton...

The game of cat and mouse continued last night. We are still trying to determine who is the cat and who is the mouse but it appears last night’s masquerade was won by a cat dressed in red, white and blue spandex, with small paws. Talk that China was...

If the USDA report is right China is finally making some headway into reducing their massive corn stock pile. At over 100mt just twelve months ago last night’s report now estimates it at 60mt for 18 / 19.  The USDA report offered corn some strength in the morning session...

The spat between Trump and China continues to look likely to hurt US soybean exports. The latest out of China confirms their intentions to reduce soybean imports and increase domestic production. Although even increasing their production to 15.8mt is still a long way from covering their consumption which is...

APW wheat from the west coast of Australia continues to be priced onto the international market. Recent activity for domestic drought relief on the east coast did inflate values but after moving US$5.25 lower to US$235 yesterday APW is now about US$22 above Ukraine values landed north Asia. This...

US corn, wheat and soybean futures were all hit hard in overnight trade. Soybeans shed 25c/bu resulting in some spill over weakness in both ICE canola futures and Paris rapeseed. US soybeans had appeared somewhat immune to the limited interest the Chinese had in them……until last night. Thoughts that...

There was a bit of profit taking in US wheat futures overnight. The HRW crop tour basically confirmed what most of the punters had thought so it may have also been a case of “buy the rumour, sell the fact” type trading. We do still come out of the...