Russia sold 120kt of wheat to Egypt overnight. 60kt was booked at US$249.45 delivered and another 60kt was booked at US$252.50 delivered. Some say Egypt came in as a buyer due to the risk of port lockdowns as the coronavirus becomes more widespread. This appears likely as Egypt are...

Chicago corn futures broke a seven session losing streak and finally found some support from the bargain hunters. Wheat struggled, closing slightly lower in the outer months while US soybean futures were mixed but generally unchanged nearby to higher on the outer months. Canola and rapeseed futures ran their...

US wheat futures initially found weakness from worse than expected US weekly export inspections but then bounced back in later trade to close higher. Support came from outside markets with Wall St sharply higher. There are a few tenders expected to hit the market this week. Saudi Arabia are...

China continue to bargain hunt, picking up 567kt of US corn overnight. Trump will no doubt take the credit after pencilling in such an awesome trade deal. On a more realistic note China are basically filling their WTO obligations and who can argue that now wouldn’t be an opportune...

China continues to take advantage of lower grain prices and weaker currencies by increasing grain purchases. There is talk of China picking up 200kt of Australian barley at US$220 C&F. The results of the anti-dumping case doesn’t seem to be a major concern at present. WA barley continues to...

US corn, wheat and soybean futures were all sharply lower in overnight trade. Wheat had been weathering the storm quiet well but was caught up in sharply lower corn and bean futures after the USDA prospective plantings report and succumb to technical selling which saw wheat go from golden...

There wasn’t a lot of good news for corn out of the USA last night. The market had been waiting for the prospective acres report which was released early in the day. The punters were expecting to see increases in US corn area but none expected an increase as...

With export restrictions out of the Black Sea creating talk of global trade tightening those with wheat for sale may well come out of the next couple of months with lower stocks than expected. You might come to the conclusion that the US futures market hasn’t really cottoned on...

In the USA wheat futures were generally flat to firmer, corn was a touch lower and soybeans were flat to firmer nearby while new crop values slipped on the prospect that farmers will walk away from cheap corn and cotton and possibly plant more soybeans. Corn continues to stumble...

The funds basically open the office door yesterday and said OK, it’s Thursday, let’s take the money and run regardless of the fundamentals. Technically this was foreseeable in wheat futures at Chicago but after the previous day closing higher it wasn’t a given. Wheat, as it had been the...