There was a little bit of late squaring up in the US futures market after Monday night’s unexpected rally. All grader of US wheat futures for Dec18 closed lower as did both corn and soybean futures at Chicago. The weakness in US futures rolled around the globe with ICE...

Strength in wheat futures values was found on the back of declining world production estimates lead by the reduction in Australian output by ABARES. The official estimate is now 19.1mt. The estimate includes a revision higher in WA yield estimates but may not take into account the losses across...

The Aussie dollar pushed lower again in overnight trade with the big end of town happy to short the currency against other majors like the USD, YEN and Sterling. The AUD has shed 11% since January and falling metal prices have many of the punters thinking that the next...

US corn futures found support from technical trade and ideas weekly exports should be good. Wheat futures on the other hand continued to fall across the board as the punters predict another dismal number for US weekly wheat exports due out tonight. Looking around the world we see dry...

US grain futures continue to slip as the US dollar and good production combine with little international demand for the US product. Looking at cash bids around the globe we see some Russian offers increased overnight while others actually slipped a little. Egypt decided to pick up 60kt of...

The only people the news that Russia do not intend to limit wheat exports came as a surprise to were the punters on the world futures markets who started the rumour in the first place. Longer term the Russian S&D sheet does appear to have a few discrepancies but...

Hot on the heal of news that Russian wheat exports hit 8.17mt up to and including the week ending August 30th, that’s a 63% increase on the same time last year, comes yet another confirmation from Russian officials that they currently have no to limit wheat exports this year....

US wheat, corn and soybean futures closed higher. The AUD is sharply weaker and global wheat offers at an FOB level continue to trade sideways to lower. In the US, futures were caught up in end of month, long weekend trade. Wheat dragged the corn market higher and soybeans...

Well Wednesday’s gains in US wheat futures proved to be a dead cat bounce. This term always amused me, apparently a dead cat may bounce when thrown from a high point but it doesn’t actually get up and run away. The rally was based on concern Russia would implement...

Fundamentally there is no fresh news justifying the significant jump in both US and EU wheat futures overnight. If you believe the market wires the rally appears to have been based off speculation that Russia will curb wheat exports after a less than perfect harvest this year. Yes, that’s...