It’s almost like a Chicago wheat trader woke up yesterday, re-read the WASDE report and thought, “gosh, Bob, that USDA report is bearish wheat”. So the selling resumed. Is it a bear trap, possibly, but I can’t see how. This is the deal of the century for the major...

Mostly green on the screen this morning. Chicago corn was weaker across all months, spoiling the illusion that the market was poised to bounce. There were some higher moves in US wheat futures though. Futures for hard red winter wheat at Chicago gained 5.25c/bu (AUD$2.81/t) in the Dec slot....

The USDA released their November World Ag Supply and Demand Estimates report last night. The WASDE had a few adjustments in it for corn and soybeans in the USA relating to yields. This saw some adjustments to state and national production, generally supporting the market. This support spilt over...

US wheat futures continued to push lower. The decline in wheat over the last few weeks has been outstanding from a technical perspective, breaching many technical support levels on it’s path to the abys. For a contract to trade lower from an already oversold position, so often is unusual,...

The biggest news for farmers today is probably the value of the AUD. To help put it into perspective for wheat, the futures market move for Dec SRWW at Chicago is basically about -AUD$4.28/t. The move in the AUD is worth about +AUD$3.60/t. The fall in value was across...

Chicago soft red winter wheat struggled to close higher, it done so in the Dec and March slots but outer months were lower. Hard red winter wheat and spring wheat futures in the US managed to closer higher across all months. The move wasn’t as much as what we...

There’s a lot of red on the screen this morning. Wheat futures in the US and Europe were lower. Cash values out of the US Pacific Northwest were lower, hard red winter wheat shed roughly AUD$3.09/t, compared to yesterdays conversions. Cash wheat out of France was also lower. The...

US wheat futures continued to push lower. It’s a hard market to understand at present. The last few months have puzzled many analyst. From the outside looking in it was obvious the initial move was going to be higher once the Azov Sea was blocked and port infrastructure in...

US wheat futures were a smidge firmer overnight, nothing to write home about, but better than the recent trend lower. If the USDA report another good week of US sales it might just draw US values higher. The US product is cheap, much cheaper than alternatives from the EU,...

There were a couple of good news stories about yesterday, they appeared to have more of an impact on the Thursday session in the US than the Friday session last night though. The first was news (or rumour) that China has shown interest in US soft red winter wheat...