The USDA November World Ag Supply & Demand report was out overnight. Let’s have a skim over the data and see what’s new. By the way the market has responded I’d say not much at a glance. USA wheat production is back 1.13mt to 52.26mt, resulting in a 810kt...

Lower than expected US weekly wheat export sales kept a cap on wheat futures at all three US exchanges overnight. Sales at just 360kt were not going to put wind in anyone’s sail and left the market going into tonight’s WASDE report oversold. With hints of reductions to Russian,...

A quick look at the technical side of the market leading into tomorrow night’s WASDE report out of the USDA shows Dec soft wheat at Chicago is oversold, Kansas wheat is neutral, corn is oversold and soybeans at Chicago are neutral to maybe a little over sold. This may...

Egypt picked up 235kt of wheat overnight. The order was made up of French and Russian wheat. Glencore were the lowest offer selling French wheat at US$214.86 per tonne FOB. The Russian wheat was also said to be lower than what Egypt paid in their last tender. Using the...

Poor weekly export loadings for corn and wheat out of the USA set the tone last night. Without any new news to feed the futures market prices were generally softer across the board for the current crop. Soybeans were the only real exception but a 1.25c/bu (AUD$0.65/t) increase is...

In the USA wheat and soybean futures were firmer while corn slipped a little. There are pictures emerging of shrivelled soybean seedlings in Paraguay where drought conditions are really hurting some areas. The highly productive NW regions of Paraguay have seen temperatures into the high 30’s with little rain...

You don’t get much more boring than the last two weeks in US grain futures. Corn for instance has moved about a 7c/bu range since Friday week ago, that’s less than AUD$4.00 / tonne. Meanwhile soft wheat futures have fallen 23.5c/bu (AUD$12.50), so much for the “what happens to...

More technical selling in the US grains futures market left the complex either side of unchanged with no one commodity, or in the case of wheat no one grade, making a significant move one way of the other. With the northern hemisphere slipping into the winter and most locations...

In the US grain futures were generally lower on technical selling and ample stocks. Combine this with a poor weekly sales pace and there little chance we’ll see a 100c/bu rally in US futures in the short term. When the technical trade feel the need to buy there is...