The US futures markets were lower again in overnight trade. The punters are looking for confirmation of Chinese orders before they pencil their demand into the books, talk is cheap.
Weather in the US is generally benign with another winter storm expected to drop more snow and rain in the week ahead. Pressure in oilseeds is also coming from some rapid progress in the Brazilian soybean harvest.
Further technical selling in the CME wheat pit combined with fundamental pressure from large world ending stocks.

The USDA released a winter wheat crop ratings report. Generally the rating is better than this time last year. The normal weekly crop progress reports don’t start up until the 1st of April (bad timing). These early reports are really nothing more than a stab in the dark as half the crop is still under snow.

Taiwan picked up 110kt of US milling wheat yesterday. The soft white wheat portion of the  sale does come in around US$10 lower in value than comparable grades off the west coast of Australia and does outline how competitive the US has become in the wheat market into Asia in the short term.