US grain futures were higher in overnight trade on speculation that weekly export sales numbers may come in towards the top end of expectations. Corn found buying interest from the ethanol industry pushing local basis bids higher by as much as 6c/bu in some locations. Wheat was basically dragged...

The row crops were lower while wheat futures at Chicago found some support, was it a case of sell row crops buy wheat, possibly. Fundamental strength in wheat remains flat to softer while the row crops in the US continue to enjoy a relatively soft season to date. Both...

Overnight Saudi Arabia confirmed the purchase of 725kt of feed barley by tender. The average price was US$211.43 per tonne C&F. With a delivery time frame of October / November. There’s a chance new crop Australian barley could make an appearance on the loading sheet but there are a...

In the US we see wheat back again on profit taking after that mid-week rally, corn found support from thoughts the Chinese might like some more US corn to go with their latest soybean purchase, which did manage to help both Chicago beans and ICE canola higher. Corn saw...

Wheat futures in the US stole the show last night, jumping significantly higher. I’m grasping to find any real fundamental reason why. Most reports simply state technical buying. The rally does kind of take us back to a more mid-term average value but technically this Chicago wheat contract remains...

The lower weekly crop condition rating for corn and soybeans saw some support in the row crops but technical selling was sill the dominant force. Good weather in the US is also capping any attempt beans and corn make to rally. The spring wheat area is set to miss...

Technical selling and profit taking were the main feature of the US grain futures markets overnight. Looking at the charts we see  December corn futures gapped lower, something to keep an eye on as gaps are almost always filled before a contract closes out. The stochastic tends to lead...

Corn futures in the USA can’t take a trick. China comes in and buys 1.365mt of US corn, the biggest purchase of US corn in 25.5 years and the futures market goes down. Even the USDA WASDE report was more bullish corn than bearish. Ending stocks were lower, production...

News that year on year wheat acreage in the UK was back 25% certainly had the Euro market humming. The talk wasn’t reflected in the futures market though with London feed wheat flat for the nearby contracts. Milling wheat futures at Paris did push higher though as did the...

Soft red winter wheat futures at Chicago had a good rally last night. The move higher was said to be a result of the combination of technical trade ahead of the WASDE  report and continued concern about lower production estimates in the US, Ukraine, Russia and Europe. Looking at...