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....

Soybean futures at Chicago saw double digit losses on the back of increased tension between US and China over the coronavirus. Technically Chicago soybeans are now neutral to maybe a little oversold, so potentially a repeat of this week...

The US Wheat Quality Council done their annual crop tour of Kansas this week with 75 scouts walking through fields in an attempt to come up with a Kansas wheat production number. Average yields were pegged at 47.2 bushels...