In the USA soft and hard wheat futures found some much needed upside at Chicago. The trigger was US export data but the futures market was also due for some technical buying. Combine those two things with the bargain hunters opening their purses and the market saw healthy gains....

In the US the USDA report was considered mostly bearish as the report confirmed what much of the trade had already factored into prices leading up to the report. Hard red wheat futures were the exception and fell away sharply as higher than expected US production estimates for the...

US futures were lower overnight, soybeans at Chicago set a ten year low and corn and wheat futures there also saw significant downside prior to tonight’s USDA report. It brings the cynical thought to the front of my mind, will this be a sell the rumour buy the fact...

Overnight saw some limited downside for wheat at London, Paris and American grain futures markets. We have May closing out and a USDA report due out on Friday. Cash markets were generally flat to lower with Black Sea wheat offered at US$204 FOB against a bid of US$198 FOB....

Wheat futures done well to fend off spill over selling from the soybean pit. “Tariff Man” as one news wire has labelled Trump this morning has threatened to carry out previous threats of raising tariffs from 10% to 25% on a range of Chinese good into the USA. Soybeans...

Without any fundamental support wheat once again assumed the path of least resistance and US futures fell away. Minneapolis still appears to be the contract with the most to lose. HRW and SRW contracts are already close to historically low values if you take the CPI into account. If...

US wheat futures were torn between planting delays in the spring wheat, pretty meh weekly sales and export data and the thoughts that old crop wheat carry over may creep in higher than USDA projections thanks to lagging export sale execution. On Monday the 10th the USDA will have...

The bargain hunters were back in the US wheat pits overnight. This appeared to trigger a round of short covering resulting in the market rally on the back of technical trade. Soft red wheat futures at Chicago fell 8.9% in April, let’s hope that the upside in last night’s...

US wheat futures continue to stumble lower as crop condition ratings improve. The US looks likely to meet USDA export sales targets but the shipping pace remains a little slow leaving many to think that there will simply be more wheat left to move than the USDA projected by...

The 2019 wheat crop tour in the USA got underway yesterday and will conclude on Thursday evening US time. I’m not sure what they will do to determine yields this year with only around 5% of the crop expected to be in head by the end of the week....