It appeared to be a consolidation of some description at the CME futures market in the USA. Soybeans found some steam and then lost it after trade representatives warned that the negotiations with China could go on for much longer than they expected. Corn succumb to further technical selling...

The US futures markets were lower again in overnight trade. The punters are looking for confirmation of Chinese orders before they pencil their demand into the books, talk is cheap. Weather in the US is generally benign with another winter storm expected to drop more snow and rain in...

From the outside the US wheat futures market appears to have some kind of disconnect with reality. Why I’m surprised I have no idea, it’s not like it’s a reflection of the actual wheat market on a daily basis these days is it. So fundamentally we saw export loading...

Some more regurgitated USDA data and some “good progress” in the USA / China trade debate couldn’t make a mark in US futures last night. The only product that really showed a pulse was spring wheat futures. The MGEX nearby contract rallied about $4.60 / tonne. Outer months for...

US grain futures were firmer overnight, except the CME Aussie FOB wheat contract that was US$7.75 lower for the March slot. Obviously there is a bit of a liquidity issue with the contract. With open interest of just 720 contract, 100 less than a couple of days ago. It...

US wheat futures were under the pump again last night shedding value across all months on all three contracts. The biggest moves were on the closer by, old crop contracts, but weakness has now spread into the new crop as carryover stocks will become an issue in the US...

US wheat futures were hit pretty hard overnight as yet another week of poor US export inspections start to confirm that the slowdown in Russian exports did not automatically convert to US boats being loaded. The punters were expecting to see 500-600kt loaded but instead they were given 357kt...

Another holiday in the USA, Presidents Day this time, saw the US markets closed so no new settlement values from ICE or CME futures markets this morning. ABARES has come out with a revised Australian wheat number of 17.3mt, 340kt higher than their last estimate. Reductions in NSW and...

In the US we see corn flat, wheat generally drifted lower while soybean futures rallied a few cents a bushel. It still amazes me how a product like corn at Chicago can see a daily volume of 193,483 contracts, that’s 24mt, trade a 1.75c/bu range in a day and...

US wheat futures were hit pretty hard overnight shedding around AUD$8.00 on the nearby soft red wheat contract. Corn and soybeans were also lower. Interesting to note the Platts CME FOB Aussie wheat contract was US$1.50 higher on the March slot at US$284.75 as the closing price, some US$10...