Short covering was a key feature of the Chicago wheat pit in overnight trade. Triggered by reports of dry weather in both the US and Russia the initial rally triggered orders and the session closed with some nice gains. Proofing the report of dry weather shows that parts of...

The pulse industry claimed another large scalp last week. Indian company Phoenix Commodities went under to the tune of about US$400m, not bad for a company valued at US$1.1Bn as recently as January and claimed a US$43.5m profit last year. Banks in the UAE seem to have been hit...

US wheat futures continued to push lower as the world moves out of the N.Hemisphere spring mostly unscathed. India is reporting they will harvest a record or near record wheat crop. Russian has seen 25-50mm of rain across most of their wheat country in the last couple of weeks....

It’s not only the Australian barley market that is looking less than exciting at the moment. Recent reports out of the UK are also advising producers to be ready for an extended period of low prices for barley. The N.African feed market may be the key with pockets of...

World grain futures were generally either side of unchanged. In the US corn and soybeans were a tad softer, HRW and spring wheat were softer while nearby soft red wheat was a smidge higher. No market moved in a convincing manner up or down, as technical trade dominated the...

It was a sea of red across global grain futures markets by the close of last night’s session. The US market had a bit of an epiphany and decided they had pushed wheat values too high and were now uncompetitive in the global market. Market wires vary on the...

US markets saw the WASDE come and go without much of a surprise really. Most bearish expectations had already been factored in and the USDA didn’t disappoint so basically it was a case of a quick look over the report and then back to business as usual. In the...

We have a USDA World Ag Supply & Demand report out tonight so the US markets were mainly concerned with positioning and speculation associated with that. At Chicago soybeans were a tad firmer, corn was flat to lower while wheat was lower with HRW slipping further than SRW. Meanwhile...

The scouts are starting to pick up the level of frost damage across Oklahoma and Kansas, this is rolling into some underlying strength in HRW futures. The prospect of further frost damage this weekend also helped the wheat markets close higher. I’m not sure about this weekend though, most...

World grain futures were generally flat to firmer in overnight trade. Bullish factors were the increasing value in oil and fuel in the US, this obviously helps corn demand in the ethanol market. France confirmed its 4th hottest April on record, it was also a little dry, this has...