It was good to see the USA feature in the suppliers list for the Egyptian tender, what wasn’t good was the price. Most of the punters were expecting to see values around US$5.00 higher than Egypt’s previous purchase due to the change in payment terms from prompt to 180...

The US markets continue to be focused on the delays and damage flooding along the Mississippi is causing. The 300kt of corn China picked up the other day was said to have been flood coverage. As the river becomes less compliant delays will occur and the additional cost of...

The US markets look like they took half a breather in overnight trade. Corn was up a little on continued weather issues across the western corn belt. Flooding and heavy rain are starting to ease but there is some serious infrastructure damage in many counties. Wheat was generally flat...

US grain futures found support from flooding in the mid west and a US weather forecast suggesting further rain is likely in the short term possibly exacerbating the issues already being experienced. US wheat futures found support mainly from spill over buying in corn and soybeans but also continued...

US wheat futures were firmer again in overnight trade. All three grades saw upside. Flood water in the US is pushing south and over the next few days those across Kansas and Missouri are going to be the ones in trouble. As snow melts in the northern parts of...

Technical trade dominated Chicago grains overnight. Wheat, which was grossly oversold only a couple of weeks ago has now reversed that position and is pushing into the overbought range on the stochastic. Even so US SRW futures should still be considered cheap at these levels. Spring wheat futures are...

The US futures markets concentrated on poor weekly export inspection numbers for wheat, corn and soybeans. The main three grains were all lower by the close bar spring wheat futures at Minneapolis.  Spring wheat actually bucked the trends and closed 6c/bu (AUD$3.10/t) higher on the nearby contract. The extensive...

Further upside in US wheat futures was a combination of technical short covering and some fundamental strength from the extensive flooding on the northern plains. There has been some big falls of rain and snow across the Dakota’s and down into Nebraska, the NW corner of Iowa is also...

With the March contracts rolling off the board don’t take a lot of notice of the nearby futures numbers. It is encouraging to see the May 19 contract for SRW at Chicago up US5.5c/bu (AUD$2.88) but the guys growing HRW must be starting to wonder why they are bothering....

The marketing term  “dead cat bounce” comes to mind this morning. It’s doesn’t matter from what height the cat is thrown, if it’s dead it may still bounce but it ain’t going to get up and run away. That sums up the US wheat futures market pretty nicely at...