US futures were lower overnight, soybeans at Chicago set a ten year low and corn and wheat futures there also saw significant downside prior to tonight’s USDA report. It brings the cynical thought to the front of my mind, will this be a sell the rumour buy the fact...

Overnight saw some limited downside for wheat at London, Paris and American grain futures markets. We have May closing out and a USDA report due out on Friday. Cash markets were generally flat to lower with Black Sea wheat offered at US$204 FOB against a bid of US$198 FOB....

Wheat futures done well to fend off spill over selling from the soybean pit. “Tariff Man” as one news wire has labelled Trump this morning has threatened to carry out previous threats of raising tariffs from 10% to 25% on a range of Chinese good into the USA. Soybeans...

Without any fundamental support wheat once again assumed the path of least resistance and US futures fell away. Minneapolis still appears to be the contract with the most to lose. HRW and SRW contracts are already close to historically low values if you take the CPI into account. If...

US wheat futures were torn between planting delays in the spring wheat, pretty meh weekly sales and export data and the thoughts that old crop wheat carry over may creep in higher than USDA projections thanks to lagging export sale execution. On Monday the 10th the USDA will have...

The bargain hunters were back in the US wheat pits overnight. This appeared to trigger a round of short covering resulting in the market rally on the back of technical trade. Soft red wheat futures at Chicago fell 8.9% in April, let’s hope that the upside in last night’s...

US wheat futures continue to stumble lower as crop condition ratings improve. The US looks likely to meet USDA export sales targets but the shipping pace remains a little slow leaving many to think that there will simply be more wheat left to move than the USDA projected by...

The 2019 wheat crop tour in the USA got underway yesterday and will conclude on Thursday evening US time. I’m not sure what they will do to determine yields this year with only around 5% of the crop expected to be in head by the end of the week....

The cold, wet weather that is delaying corn sowing in the USA and supporting the yellow grains price at the futures market has a flip side and the prospect of corn acres swapping out to soybeans if there are further delays is now hurting soybean futures. As if soybeans...

Good US weekly wheat sales helped US wheat futures claw back some of yesterday losses. Although HRW did manage to close in the red yet again. This takes HRW futures very close to slipping under 400c/bu (AUD$210/t). The lowest number I have for Kansas wheat on my records dates...