US corn futures shrugged off poor weekly export sales data to close higher. The prospect of more rain in an already saturated eastern corn belt has the punters thinking what corn is in the ground is what they’re going to end up with. The key to it all now...

The forecast in the USA has turned wet again. With Tuesday’s crop progress report suggesting just 60% of US soybeans had been sown up to the end of the week prior. This leaves soybeans exposed to acreage cuts similar to what we have seen in US corn acres. The...

The USDA report: Projected US corn acres sown has been reduced by just 3mt to 89.8mt. The big move was in the projected yield. Last month the USDA had pegged an average yield of 4.47t/ac, this month we see the yield estimate lowered to 4.22t/ac. The final production estimate...

There was some week on week progress made in corn planting in the US according to the weekly crop progress report that came out after the close of the futures session. The eastern corn belt states of Illinois, Indiana and Ohio made some progress but many analyst are now...

Corn, wheat and soybean futures in the USA all saw downside in overnight trade. The punters continue to square up ahead of the USDA report next week and are ignoring the fundamental signals coming from Australia, Russia, Canada and the USA. Technically Chicago soft wheat is approaching neutral, this...

Soft red winter wheat futures at Chicago were sharply higher in overnight trade making this market officially harder to pick than a broken nose. Soft wheat put on about AUD$9.00 per tonne taking the weekly move to just 7c/bu (AUD$3.70) from last Friday. During that time we’ve seen a...

The US weather map, well for the US upper midwest at least, turned a little drier looking for the next 7 days. Missouri is still likely to see some 2″ to 3″ of rain but Kansas and the central and western corn belt will most likely see just a...

As expected the improved crop condition report killed the rally in US wheat futures. Corn and soybean futures continue to see support from slow planting and wet weather delays in the States. A quick look at the 7 day forecast for the US and it looks like SE Kansas,...

Wheat futures were the big gainer in US futures markets overnight. The punters were sure that the USDA would reduce crop condition ratings in the weekly crop progress report due out after the close. Looking through the report as I write shows they were wrong. Winter wheat rated good...

It’s hard to know which way to look at the moment. You have weather in the US causing floods, you have dry weather in parts of the Canadian prairies and the Volga Valley in SE Russia. Increasing yield prospects for winter wheat in the EU. Drought continuing in both...