Dry weather in the USA, Argentina and Russia continues to be the fundamental driving force behind a further rally in Chicago SRWW futures overnight. Weekly US export sales volume was also viewed as supportive, landing on the high side of trade estimates prior to the report’s release. Pakistan picked...

The punters came out hard and fast in the Chicago wheat market overnight. Volume in the December SRWW contract at Chicago was significantly up on the last three sessions. Soft red winter wheat futures found support from dry weather in the USA, Russia and Argentina. The sowing pace of...

US grain futures were generally flat to firmer again overnight led higher by soybeans which found support from dry weather in Brazil. The delay at this end of the season in Brazil may in turn widen the window for business US soybeans have to move to China, potentially reducing...

“Technical Tuesday”, “turn around Tuesday”, call it what you will, it was good to see US grain futures generally flat to firmer in overnight trade. Soybeans were the clear winner putting on 10.25c/bu on the nearby.  ICE canola futures were not following the lead though and shed another C$2.00....

Chicago soybean futures weighed on the session as prices fell back off two year highs. With a 31.75c per bushel (AUD$16.20) loss on the nearby contract it will put pressure on canola values at the ICE and Paris. The Paris contract backed off E5.75 per tonne on the nearby...

The USDA dropped their latest WASDE report last night. Corn and soybeans were the two big winners. Soybeans saw a sharp decline in beginning stocks and production in the USA. These two reductions combined with an increase in export sales to result in a sharply lower ending stocks number....

Cash bids in SW Saskatchewan followed the futures markets lower. 1CWRS13.5 spring wheat slipped C$4.48 per tonne on average to be bid at C$234.73 per tonne. On the back of an envelope this would roughly equate to a Newcastle port price of something close to AUD$320 if the destination...

Technically speaking December SRW at Chicago is getting up there and is now overbought. Without some good fundamental backing at this level one would expect to see profit taking kick in fairly soon. With the value also above 600c/bu it may trigger a lot of grower selling in the...

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...