In the US futures market it was basically a session of technical trade centred around taking profit from a rally which basically started around mid-August. The fundamentals were not bearish, export data out of the states isn’t poor, it was simply profit taking time. A few punters in the...

US grain futures were generally firmer apart from some technical selling in nearby corn and spring wheat futures as the Sept contract nears expiry. The Platts APW FOB Aussie wheat contract was weaker in the Jan 21 slot (still untraded though) closing at US$243 / tonne. This would equate...

It was a USDA World Ag Supply and Demand Report night last night. Soybeans were the big winner with the report lending a helping hand to a market that was already steaming ahead on lower US yields and increased sales volume. Soybean futures at Chicago pushed above US$10/bu for...

According to the wires the discovery of swine flu in a wild boar in east Germany may lead to increased demand for US pork, thus higher feed usage as hog stocks increase to fill the additional import demand. Futures markets are fuelled by speculation are they not. Cash bids...

In the USA wheat and corn futures were fairly flat while soybeans continued to rally, the November contract setting a new high for 2020, closing at just under the 2019 high set back at the end of December. The USDA confirmed that China had picked up another 318kt of...

Around 25% of the US corn crop is now considered mature. The big corn states of Iowa, Illinois, Nebraska and Minnesota are generally around 20-30% mature. The percentage of the US corn crop rated good to excellent is back 1% from last week to 61%. Last week the Iowa...

ABARES increased their estimate for the Australian wheat crop from 26.674mt in June to 28.91mt. This is a huge improvement over the last two wheat crops with the 2019-20 crop estimated at just 15.165mt. Increases in NSW, Victoria and WA countered reductions in QLD. NSW look to be on...

Timelines are always worth a look when talking about trade issues. The China / Australia barley problem comes to mind quickly. Remember the whole problem arose from a claim Australia was dumping cheap barley onto the Chinese market (why that’d even be an issue is beyond me). The numbers...

Outside market influence was a major hand brake on US grain last night. Good export sales for US soybeans helped beans close in the black but wheat and corn futures at Chicago pushed lower. Rainfall across the US corn belt is expected to be across the drier parts of...

Wheat futures in the US succumb to some technical profit taking after reaching five a month high earlier in the week, that’s a nicer way to explain the decline than to say prices took a reality check when everyone realised they were way above world parity values. The punters...