There are a few punters left scratching their heads after last night’s rally in US grain futures. The underlying fundamentals are there, just, the market continues to grasp firmly to these fundamentals thus triggering technical trade as the session moves higher. For wheat the dryness in the USA, Argentina...

US wheat futures found support from global weather conditions and technical trade. It’s winter wheat sowing time in the northern hemisphere and conditions are not perfect. Parts of Europe, Russia, Ukraine and the USA all remain in less than ideal shape according to the punters. A quick look around...

In the US wheat futures succumb to profit taking after some healthy gains in the prior session, even though export sales were better than expected. Corn and soybean futures at Chicago finished in the black after posting some good weekly export numbers and saw continued buying interest on the...

It was all about US wheat, corn and soybeans stocks last night. The USDA released their quarterly stocks report and it took the market by surprise. In the corn pit at Chicago futures rallied 4%. Domestic US basis stayed flat, prices on the board and at the elevator finished...

In the US corn, wheat and soybean futures all closed lower overnight. Interesting to note that the Platts APW FOB wheat contract at Chicago closed in the black with the Feb 21 slot us US$0.75 /t at US$251.75. This would roughly equate to about AUD$278 ex farm LPP for...

In the US wheat futures at Chicago were a touch firmer while spring wheat futures at Minneapolis were a little softer. Reports of better than average quality and yields out of Canada will weigh on prime grade wheat values in the short to mid-term. Transposing that statement we may...

A flat session for the US row crop futures overnight while all three wheat contracts slipped further. The firmer nature of US soybeans lent support to both ICE canola and Paris rapeseed with both contracts closing higher. With the higher close to canola and the weaker AUD combining there’s...

Double digit losses in Chicago soybean futures weighed on the market last night. The weaker close was attributed to profit taking. The weekly export data out of the states was fundamentally supportive but whose to stand between a fund manager and some end of month profit taking. Weekly US...

US grain futures were lower across the board last night. All three wheat grades, corn and soybeans all slipped lower by the close. The row crops were generally lower on the back of technical selling while US wheat values appear to be having a reality check. Soft red winter...

In the US corn futures at Chicago were lower. Soybeans and wheat were smashed with Dec20 SRW futures slipping 20.25c/bu (AUD$10.30/t). What goes up must go down. Soft red winter wheat at Chicago put on 44c a bushel last week (AUD$22) on the back of fairly fragile fundamentals and...