In the USA profit taking and technical trade dominated the session seeing most grains close the sessions lower. Spring wheat futures kicked the trend as weather issues in the US remain a major problem and continue to delay the harvest and downgrade what wheat is still left in the...

Weaker oil prices continue to put pressure on the oilseed market. After the massive oil rally on Monday the soybeans and canola market has basically been retreating. Confirmation of US soybean sales to China couldn’t stop the retreat. I guess a sale isn’t a sale until it’s loaded and...

September futures rolled off the board at Chicago with December now becoming the nearby contract.  Oil took the spot light and surging energy prices created some spill over buying in the grains. Oil was higher on multiple attacks on the world’s largest oil production facility in Abqaiq, Saudi Arabia....

China appear to be the real winners in the US soybean tariff war. Basically the US price of soybeans has fallen since China walked away from US beans. China bought a bunch of beans from Brazil, prices in Brazil were supported but are now very close to par with...

US grain futures were higher after the USDA report offered support and US soybean sales to China produced spill over buying for the other grains. The USDA left corn planted acres and harvested acres unchanged but reduced expected yield resulting in a lower production estimate. A yield of 10.55t/ha...

US grain futures fell on a better weather outlook. Warm weather is expected to persist through grain fill allowing late sown summer crops to finish without any frost issues. Wheat futures were caught up in the selling in corn and soybeans and closed lower in sympathy. The USDA WASDE...

US grain futures closed higher in overnight trade. The strength was said to be attributed to a drop of 3% in the G/E rating for corn in yesterday’s crop progress report. Technically corn futures at Chicago are very oversold and have been for a few weeks now. Normally leading...

Australian production estimates proved to be a key driver in global wheat values overnight. ABARES produced a wheat production estimate well under the June prediction but still much high than most optimists are expecting to see. At 19.2mt it is still around 1mt higher than some trade guesses and...

Canadian ending stock for wheat, although “low” were not as low as the punters expected. The number came in at 6.18mt versus a trade guess of 5.2mt. Canada had taken advantage of the poor Australian season and increased exports into Asian markets. Exports were up 6.9% year on year...

Wheat futures in the USA saw the bargain hunters supporting the market. After recent losses in US wheat technical trade took over and the market has rallied a little in recent days. Looking at the December SRW chart at Chicago it does show that wheat is approaching a more...