Wheat futures traded a narrow range to closed mostly flat to lower for the session. There was some technical trade but let’s just call in buy the rumour sell the fact for now. The technical guys are punting around the USDA WASDE report. I think a more exciting punt...

As expected weekly US wheat export inspections were poor. It did have a negative impact on wheat values but it wasn’t as big a deal as those looking to sell were making it out to be. At just 260kt it is indeed well below the weekly volume required to...

Technical buying continues to assist US wheat futures higher. The punters are trying to underpin this rally with thoughts of increasing US exports as Black Sea volume declines over the next couple of months. Without the USDA reports coming out of the States to back up this assumption the...

Confirmation that US soybean sales set a marketing year high last week of 2.83mt. Additional soybean sales were also reported overnight, with volume of around 560kt. What would you expect US soybean futures to do, well fall of course. The punters decided to sell on the back of a...

It’s beginning to look a lot like Christmas. It’s all about positioning ahead of the break now. The trade continue to square up ahead of next week. Unimpressed with regular Chinese purchases of soybean, futures at Chicago pushed lower. Fundamentally one might expect such news and then the subsequent...

More talk of China buying US soybeans overnight. The official number is 300kt but some say as much as 840kt were booked. With news of this magnitude one might expect to see the market rally significantly but alas Chicago futures smashed out a massive gain of just 2.75c/bu (AUD$1.40)...

There are two numbers the USDA produce on a weekly basis that have a big impact on futures values. These are the export inspections number, the amount of grain actually being loaded and the export sales volume. Sales can get cancelled so a good sales week at some stage...

China stepped in to buy another large slice of US soybeans yesterday with the USDA receiving sales data for another 300kt. This wasn’t enough for the punters though and soybeans futures slipped away dragging canola and rapeseed futures with it. The weaker AUD will go a long way to...

US wheat futures continued to forge ahead on the prospect of better export orders in the new year. Are they simply punting, yes indeed it would appear so, this is a futures market after all. US weekly export sales were good though. At 754kt it’s up there and better...

Futures in the US wheat pit were higher by the close with the most strength being in the current crop contracts. A distinct slow-down in Russian exports week on week and confirmation Egypt has paid US$5.00 per tonne more for 180kt of milling wheat out of the Black Sea...