After the nice rally of the previous session Chicago wheat succumb to a round of profit taking last night. The punters were happy to take some profit and start the next round of speculation which is centred around what the USDA will say in the Ag Outlook Conference that...

China continue to confirm it will meet US / China phase one trade deals arrangements regardless of the shock the coronavirus has had on importers. The lack of staff at some ports is becoming a major issue with many ships destined to China being diverted or  ships leaving China failing to...

Good weekly export sales weren’t enough to stem the selling at Chicago. All wheat US old crop sales came in at 655kt, that’s 242k better than last week’s efforts. Lower corn and soybeans sales data weighed on the market but soybeans did manage to close in the black. The...

The Chicago wheat market did not see the volume it did the day prior. The punters hit Tuesday’s market hard with volume reaching over 158,000 contracts for the session, that’s 21,553,960 tonnes in one session. Last night was reserved in comparison with a healthy 86.16k contracts or 11,718,304 contracts...

US wheat futures were generally lower as the USDA left world wheat carryout for 2019-20 basically unchanged. The trade were expecting a slight reduction but the fall from 288.08 to 288.03mt this month was not the fall needed. The USA saw a fall of 680kt in projected ending stocks,...

There’s a USDA WASDE report due out tonight. The trade were generally concerned with squaring up prior to the report which saw continued selling in both wheat and corn futures at Chicago. Technically both wheat and corn are now heavily oversold and it wouldn’t take much in the way...

Technical support found US grain futures pushing higher in overnight trade. Technically both corn and wheat are now very oversold and although it’s not a guarantee for a climb higher we may see values struggle to push much lower unless we see some bad fundamental news come out of...

The US soybean market seemed pretty pumped up about the confirmation China had reduced tariffs on US$75Bn worth of products which includes soybeans and pork. The US wires generally failed to mention that China just bought 1mt of S.American soybeans though. Some say even this is seen as positive...

Canadian grain stocks report was out overnight. Grain still in the field in Canada was move off the old crop balance sheet as production / carry over stock and onto the new crop sheet as production for 19-20. All in all we still have a small projected decline in...

Technical buying coming after the last few sessions were generally lower seemed to be the only thing supporting US wheat futures in overnight trade. Since the high on January 21st SRWW futures at Chicago have slipped 24.25c/bu (AUD$13.36/t). During that times the CME Platts Aussie FOB wheat contract hardly...