Technical buying pushed Chicago soft red winter wheat futures higher in overnight trade. The move higher appeared to have little new fundamental support apart from a slight reduction in EU wheat production number by the European Commission. The results of the tender to buy wheat and barley by the...

With harvest getting underway in the spring wheat and durum belt of N.America it’s only fair that the weather should now turn a little damp. Showers have pushed across much of the Canadian prairies and the Dakotas over the last seven days making harvest progress difficult. The weather map...

PDQ, the Alberta Wheat Commissions cash wheat tracking platform, shows 1CWAD13 durum values out of SE Saskatchewan were again higher yesterday. The December slot is now bid on average about C$731.20 per tonne ex farm, up another C$17.30 for the day. About 22% of the Canadian durum crop is...

The US weekly crop progress report was out after the close. A quick look through the data reveals the corn condition rating is back week on week with 60% of the crop rated at G/E, last week 62%. Early fields in the central corn belt are just starting to...

Cash bids for durum out of SE Saskatchewan still amaze me. There’s none of those pussy $10 or $20 dollar moves, they’ll leave those incremental moves for other grains like spring wheat or canola. No durum likes the big moves. Last night 1CWAD13 cash bids out of SE Saskatchewan...

US soybean futures sold off overnight. Oilseeds were caught up in a general commodity sell off associated with the increase in value of the US dollar more than any fundamental reason. Globally most major analyst continue to see support for not only oilseeds but grains in general going forward....

Wheat purchases from both Egypt and Algeria confirm that importers will need to pay more for wheat. Egypt picked up 180kt of Black Sea wheat. 120kt from Romania and 60kt from Ukraine. Values were said to be some US$38 higher than their last tender. Algeria was thought to have...

Technical Tuesday, call it what you will. After a fairly bullish few days the Chicago wheat pit gave back 26c/bu on the nearby contract last night. This leaves the “rally” from the recent USDA report at just 7.5c/bu (AUD$3.79) hardly worth the fanfare was it. Fundamentally the market remains...

US grain futures took half a breather overnight, bar soybeans which continued to move higher. The big mover continues to be canola / rapeseed. ICE futures for Canadian canola pushed through C$900 to close the session C$18.10 higher on the nearby at C$912.40. Paris rapeseed futures were also sharply...

US wheat futures found continued support from Thursday’s USDA WASDE report. Lower world and US wheat ending stocks encouraged speculators to build longs in wheat futures. Reductions in Russian wheat output were larger than many had expected to see and is key to the mid-term support for wheat values....