Without any fundamental support wheat once again assumed the path of least resistance and US futures fell away. Minneapolis still appears to be the contract with the most to lose. HRW and SRW contracts are already close to historically low values if you take the CPI into account. If...

US wheat futures were torn between planting delays in the spring wheat, pretty meh weekly sales and export data and the thoughts that old crop wheat carry over may creep in higher than USDA projections thanks to lagging export sale execution. On Monday the 10th the USDA will have...

The bargain hunters were back in the US wheat pits overnight. This appeared to trigger a round of short covering resulting in the market rally on the back of technical trade. Soft red wheat futures at Chicago fell 8.9% in April, let’s hope that the upside in last night’s...

US wheat futures continue to stumble lower as crop condition ratings improve. The US looks likely to meet USDA export sales targets but the shipping pace remains a little slow leaving many to think that there will simply be more wheat left to move than the USDA projected by...

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...