Well the big news is the wheat numbers are in the WASDE report, let’s have a quick look. Global wheat production was cut by 9.37mt to 771.46mt, not a small crop by any means but a cut larger than any trade estimate. The S&D sheet also shows cuts to...

US soybeans registered a pulse last night while wheat and corn futures were basically put on life support leading into tonight WASDE report. The punters have laid their bets and they look a little like US wheat production up, US corn down, US soybeans down sharply. The punters are...

A quick look at the tech side of US futures and we see corn is pretty close to neutral, not too far oversold and not over bought. This would be about where most punters would be happy walking into Thursday night’s USDA WASDE report. Wheat on the other hand...

In the US warmer dry weather across much of the central corn belt is helping corn catch up a little. In last night’s USDA report that came out after the markets had closed corn was pegged at 98% sown. We are still trying to determine what the 100% area...

Nearby canola futures at the ICE were smashed in overnight trade shedding C$10.90 on the July contract as it expires. The November slot was also lower by C$5.90 closing at C$442.80. The weaker AUD will go some way to countering the decline this morning but expect to see pressure...

With the Americans lighting fire crackers and drinking beer last night’s US markets were closed. Looking around the world there is plenty to see though. Japan picked up 124kt of wheat in their weekly tender, 24kt of that being ASW and 13kt being white wheat out of the USA....

Technical trade triggered by the prospect of more wet weather in the central US corn belt pushed corn futures higher overnight. Wheat and soybeans were caught up in the rally. Wheat was due for some upside according to the charts and further planting delays to the last of the...

Chicago wheat futures have slipped again overnight. Reports of better than expected yields across much of Kansas and an increase in grower selling is weighing on the market. With much of the US hard red wheat belt expected to remain dry this week harvest should move along nicely as...

Lower corn futures weighed on wheat values at Chicago. Corn traders are still standing there a little stunned after last week’s USDA acreage report hit them in the face like a piece of 4×2. Argue as they may that the USDA is out there with the pixies the report...

The market was a little taken back by the USDA acreage report out overnight. The punters had expected to see much less corn area than the report produced. The area, 91.7mac, is 3% larger than the 2018 area, the harvested area is pegged at 83.6mac. To be honest the...