The 2019 wheat crop tour in the USA got underway yesterday and will conclude on Thursday evening US time. I’m not sure what they will do to determine yields this year with only around 5% of the crop expected to be in head by the end of the week....

The cold, wet weather that is delaying corn sowing in the USA and supporting the yellow grains price at the futures market has a flip side and the prospect of corn acres swapping out to soybeans if there are further delays is now hurting soybean futures. As if soybeans...

Good US weekly wheat sales helped US wheat futures claw back some of yesterday losses. Although HRW did manage to close in the red yet again. This takes HRW futures very close to slipping under 400c/bu (AUD$210/t). The lowest number I have for Kansas wheat on my records dates...

Soybean futures at Chicago lead corn lower. Although there is good demand for soy oil the slower crush rate in Argentina may see the number of carry over beans start to build. In Argentina the better crop is lower protein so in order to extract the minimum protein oil...

Wheat futures in the USA continued to tumble last night. Looking at the bigger picture there is plenty of wheat in the world and the way the weather in the northern hemisphere is currently shaping up there’s not a lot of concern at present. The USA winter wheat crop...

In the USA it’s all about winter storm Wesley. Minnesota, South Dakota and Nebraska seem hardest hit at the moment. The potential for crop damage is minimal but further delays to spring field work is the issue now. Up to 30cm of snow has fallen and many terminals have...

Did someone say there was a WASDE out from the USDA last night……. yawn. As much as the USDA report is “renowned” for shaking up the market it didn’t exactly stir the punters from their slumber this time around. The trade had expected to see higher US ending stocks...

US grain futures markets were generally either side of unchanged in overnight trade. With local and international markets stalling we are starting to run out of drivers either up or down. Australian values on the east coast seem to be on a fast track to convergence with new crop...

The market wires are explaining the sharp drop in HRW futures on Friday night as a round of profit taking. The HRW contract is neither oversold nor overbought. It may be more accurate to call the sell off a case of boredom. With the HRW belt currently experiencing a...

US wheat futures were generally softer overnight. Bearish pressure came from both new and old crop expectations. Old crop carryover will continue to be too high while 2019 – 20 production will continue to ensure there is enough wheat to go around and the major exporters will need to...