It was all about wheat in last night’s USDA WADSE report. Before we look at the number let’s just take a second to absorb, inhale if you will, what is a wheat market on fire. Dark northern spring wheat is now priced at US$14.02c/bu, Pacific Port elevator, yes US$515.13...

Technical trade prior to the USDA WASDE report out tonight saw corn, soybean and wheat futures in the USA close higher. Wheat was the undisputed winner in last night’s session, gaining some 2% – 2.5% by the close. Wheat is finding support in the US from continued wet weather...

The USDA will produce their May World Ag Supply and Demand Estimate (WASDE) report on the 12th, so tomorrow night our time. This report is expected to contain all the adjustments created by the Russian / Ukraine conflict. US wheat futures were mixed, the hard and spring wheat prices...

The USDA weekly crop progress report shows just 22% of the US corn crop is in the ground, the 5 year average is 50% and this time last year the US was at 64% sown. There are huge delays in the “I” states, the main corn states. Iowa for...

In the US wheat and corn futures took a breather. Corn performed poorly, slipping significantly in both old and new crop contracts. The most active nearby contract for corn, the July slot, shed 12.75c/bu (AUD$7.09). New crop slots were lower again, back 17.75c/bu for the Dec 22 slot. The...

What the dollar potentially took away yesterday it should hand back today. The AUD fell sharply in overnight trade against all the majors. Looking at the rally in US wheat, +AUD$15.50 / tonne for nearby Chicago SRWW futures and what the fall in currency is worth, +AUD$11.13 / tonne...

US wheat futures pushed higher in overnight trade, corn at Chicago was mixed but generally a smidge higher, soybeans where a little higher but wheat was the winner by a long shot. Chicago soft red winter wheat put on 30c/bu +/- across the 2022 contracts and kept the trend...

Volume in US wheat futures remains a little below normal, no one really willing to jump in on this market at these levels. Take HRWW at Chicago, the December contract is at 1101.5c/bu, that’s US$404.72 per tonne. Offers to sell out of the Pacific North West for the September...

I’m starting to read a lot more private analyst reports pointing towards a collapse in the US housing market, not the same as the 2008 collapse but fundamentally the same net result. The volume of speculation in the US housing, financial and commodities markets at present is worrying. A...

Wheat and canola futures saw some hefty downside on the nearby contracts overnight. Chicago SRWW and HRWW were sharply lower. In the December contract the SRWW product slipped AUD$13.00 and Dec 23 HRWW slipped AUD$16.50 per tonne. The prospect of some good rainfall across the driest parts of the...