Another USDA report come and gone. Starting with wheat we see world opening stocks 820kt lower, production increased by 710kt to 778.6mt, slightly lower domestic consumption and slightly lower exports netting in a 1.77mt increase in world ending stocks to 279.95mt. Realistically not much of a change but at...

It was all about wheat last night with a number of global tender and sale announcements, if not physically, psychologically influencing the demand side of the equation. The flip side, yes there’s always a flip side. Is the possibility that this move higher is simply a bear trap being...

In the USA we see Chicago soft and hard wheat futures a tad firmer while we see MGEX spring wheat futures continue to slip away, converging with new crop values. Cash bids for spring wheat out of the PNW were flat. Canadian values mixed but generally slipping lower, in...

The Buenos Aires Grain Exchange have raised their forecast for the Argie wheat crop. With harvest all but complete this number should be pretty close to a final estimate and at 21.8mt is not a bad crop at all given the choppy season. The record Argentine crop and the...

US wheat futures were hit hard in overnight trade. US wheat has been generally a little expensive over the last few months as price influenced rationing took place at their domestic level. This has seen export volume remain a little lower than where many would have liked to see...

There was a little profit taking in Chicago wheat and corn futures overnight after yesterday’s correction. The winter lower wheat rating in Kansas, and much of the US hard red winter wheat belt was quickly forgotten and higher grade wheat futures were sharply lower. The trade keep highlighting that...

There was much more bullish than bearish news in the international market overnight. We see dry weather in S.America driving a sharp recovery in Chicago corn and soybean futures. Wheat futures there were helped higher by spill over buying from the row crops but also from increased long speculation...