Volume on the Chicago December soft red winter wheat contract was up as the punters were net sellers of some 9500 contracts, roughly 1.3mt. Total volume for the December slot was just under 8 million tonnes. The charts say wheat is over-sold, not massively over sold but over sold....

World markets were generally flat to softer overnight. Let’s start with the grains that closed on the higher side of flat. US soybean futures found support from another large reported sale of 243kt to an unknown destination, probably China. There was a holiday in Canada so there’s no ICE...

The US continues to struggle with a few things, the main one is probably the coronavirus at present. With 68.5 thousand new cases reported on July 30th the numbers are simply staggering compared to somewhere like Australia. The mortality rate is also increasing, pushing above 3% in some locations....

Cash bids for both spring wheat and durum in SW Saskatchewan were a little firmer overnight. Durum would best be described as sideways though with a Dec 20 lift bid at about C$260.63. Basis to FOB varies a little from location to location at the farm and port end...

The first hint that things maybe a little worse in Argentina than what the market is factoring in may well be the amount of interest Brazil is showing in US HRW. Brazil usually buys its import requirements from their close neighbour but with drought becoming an issue across much...

Good demand for US soybeans from Mexico and China continue to support oilseed futures at Chicago. The sentiment in soybeans did roll across to ICE canola futures which closed up a C$1.00 on the nearby and C$1.20 for the Jan21 slot. Across the Atlantic in Paris, rapeseed futures were...

The US row crop futures took a breather last night, corn flat and soybeans softer, letting wheat take the lime light for the Friday session. Wheat futures at Chicago and Minneapolis closed in the black after a weaker US dollar encouraged the punters to think that import sales may...

In the US Chicago futures generally saw corn and soybeans firmer while wheat gave back some of the recent gains. Soybeans found support from good export sales to China. Combined new crop / old crop US soybean sales were huge at 2.83mt for the week. As expected China accounted...

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...