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...

US wheat futures were thrown a life line from better weekly export inspections. Loadings were pegged at 413kt, in the middle of the trade estimates prior to report. This keeps the US export pace around 12% ahead of last year. Corn futures at Chicago succumb to technical selling after...

India sows wheat during our spring and early December. This time of year there is a lot of speculation about the size of the Indian crop. Generally Indian wheat does not find its way in volume onto the international market but in times of poorer production or low quality...

Soybeans lead the US futures market lower in overnight trade. The lack of any news regarding Chinese purchases in the this week’s export sales report triggered a round of technical selling as the punters start to wonder when China will come to the plate the USA had kept so...

Australian wheat exports are at about the half way level according to recent reports. Around 3mt of an expected 7mt – 8mt has left the country with the main buyer being the Philippines. News that China bought 40% of a recent 1mt purchase from Australia is also interesting as...

Corn was the overnight winner with Chicago futures moving 6c/bu (AUD$3.50) higher. Granted that’s not much of a win but upside is upside. The general consensus is the bargain hunters were out in force after the recent sell down. Let’s face it at sub 400c/bu corn is cheap. The...