US wheat futures gave back much of the previous sessions gains on the back of, well reality probably. Profit taking was active after the rally yesterday and all three US grades slipped, in some cases by more than the previous days rally. The USDA did reduce the G/E ratio...

A combination of better than expected weekly export inspections and a cold snap in the USA has resulted in some good gains in US wheat futures. Technical support also helped, the punters had been looking for some good news after last week’s bearish USDA report. Hard red wheat futures...

With the US markets closed for Veterans Day we turn our eye to the European markets for data. Milling wheat at Paris was a little lower closing the session for the December slot at E177.25 / tonne. Offers at the FOB level in France were closer to US$202. This...

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...