Technical traders at Chicago jumped on the lower Russian wheat forecast by SovEcon to clear some of the sold slots. The Russian wheat estimate was reduced to 73.7mt. This is a tad lower than the official Russian estimate of 75mt and also a little lower than the current USDA...

US wheat futures found limited support from news on further subsidies to help combat the impact of the trade war with China. Technical buying was also a feature in wheat and corn while the soybean market was sold lower. In France the combination of Co-Ops InVivo, Axereal and NatUp,...

US temperatures will be ideal for crop progress across the eastern and central corn belt while the western corn belt will continue to see relatively warm to hot conditions for the week ahead. The higher temps across the HRW belt should allow harvest to wind up quickly. In the...

Week on week we see US corn and wheat futures lower. Corn rallied last night to regain some of the lost ground but a week on week comparison shows a loss 23.5c/bu (AUD$13.13) in the December 19 contract. Soft red wheat futures at Chicago saw a decline of AUD$11.20...

The one thing that always amazes me about US futures markets is their focus on the future. The ability of the US futures market to brush off a current issue to focus on a synthetic or possible issue is something to behold. This week’s heatwave for instance, it’s just...

The weaker soybean futures at Chicago put pressure on wheat values thus we see lower settlement values for soybeans, SRW, HRW and DNS wheat. Only corn futures closed higher but only by the thinnest of margins. Corn is finding some support from the high temperatures creeping north across the...

The prospect of good follow up rainfall across N.Dakota and Minnesota and across the top of the central corn belt was viewed as beneficial to spring wheat and soybeans. Wheat futures generally managed to avoid the technical selling this triggered in corn and soybean futures at Chicago. Corn values...

Analysis of the ASF outbreak in China continues to indicate that soymeal demand will fall as the disease takes its toll on the pig industry there. Official data out of the Chinese government shows a month on month reduction of 5.1% in the total pig heard.  A yearly comparison...

In the US the prospect of a hot dry week across the western corn belt came as a two edged sword. For those that have been flooded by recent storms it will allow them the chance to clean up and access what is sown and what will be worth...

Well the big news is the wheat numbers are in the WASDE report, let’s have a quick look. Global wheat production was cut by 9.37mt to 771.46mt, not a small crop by any means but a cut larger than any trade estimate. The S&D sheet also shows cuts to...