There was a bit of profit taking in US wheat futures overnight. The HRW crop tour basically confirmed what most of the punters had thought so it may have also been a case of “buy the rumour, sell the fact” type trading. We do still come out of the...

In the US good weekly export data countered the improving weather map. Corn sales were excellent and saw losses in the corn pit limited to a cent or two. In China the government continues to have a good response to state reserve corn options. The buyer hardly has an...

US wheat futures were firmer, some reports say due to a decrease in the volume of rain expected over the next seven days. I think those talking less rain than expected may struggle to read a weather map though. Every map I’m looking at is suggesting 25mm-50mm from South...

I’ve been to a few different marketing training sessions over the years but one of the first ones I went to hammered home a very valid point which springs to mind this morning. You can do all the S&D work and weather watching you like but if politics get...

The US wheat market got hit pretty hard overnight. The prospect of rain in the HRW belt countered the delay in spring wheat sowing. The crop progress report was out after the close. It shows a 1% increase in the percentage of the winter wheat crop in the US...

Black Friday rolled across the US markets yesterday. Corn, wheat and soybeans were all lower by the close. The punters were quick to jump on the weather map which showed a few good showers are likely to pass over parts of north Kansas and Nebraska and also across the...

The US weather map is creating a conundrum for the wheat trade in the States. The forecast is for good rain in the spring wheat belt but little to no rain in the hard red winter wheat belt. Looking closely one might even come up with the scenario there...

In the US there was some technical selling overnight which tendered to keep the weather punters on the side lines. Wheat is very overbought at present but last night’s spat of selling has turned the chart in the right direction. Expect to see a little more selling prior to...

The WASDE report is out, not that many punters took much notice this month. The 30 day old data is sometimes very relevant but with US crop condition ratings falling weekly even an increase in world wheat ending stocks had little impact on futures values. Higher US ending stocks...

The US weather map is dictating wheat futures values in the USA. There’s no time to look at world stocks or competing prices from places like Russia, no way, there’s a “drought” in Kansas haven’t you heard. There’s still snow on the ground in the spring wheat states where...