In the US there was some technical selling overnight which tendered to keep the weather punters on the side lines. Wheat is very overbought at present but last night’s spat of selling has turned the chart in the right direction. Expect to see a little more selling prior to...

The WASDE report is out, not that many punters took much notice this month. The 30 day old data is sometimes very relevant but with US crop condition ratings falling weekly even an increase in world wheat ending stocks had little impact on futures values. Higher US ending stocks...

The US weather map is dictating wheat futures values in the USA. There’s no time to look at world stocks or competing prices from places like Russia, no way, there’s a “drought” in Kansas haven’t you heard. There’s still snow on the ground in the spring wheat states where...

Spring wheat futures saw good gains on the back of more snow in the north. The trade are starting to think planting delays. Unless prices move higher the prospect of late sowing = lower yields doesn’t exactly stack up as profitable. Algeria picked up 388kt of wheat late in...

One commentaries opening line reads “when panic fizzles prices sizzle”, I’m not sure if this punter was a rap “artist” in a previous life but in all honesty the recovery was nice and probably expected considering the tariff debacle with China is only sabre rattling not actual law at...

Wheat managed to fend of a lot of the downward momentum radiating from the soybean and corn contracts. China was the key to the sudden drop in row crop values. China revealed a list of 106 US items that will be hit with import tariffs. Part of that list...

The weekly USDA crop progress report was the catalyst for a recovery in wheat futures last night. The weather forecast didn’t hurt any either. The hard red wheat belt continues to look dry over the next couple of weeks. This may well see the crop try and mature earlier...

The weekly crop progress reports from the US start this week. Looking at the winter wheat rating for states such as Kansas and Oklahoma and Texas, the major HRW states, you start to get an idea of just how bad their crops must be. There is little chance the...

It’s all about squaring up or positioning prior to tonight’s USDA prospective plantings report. Grain futures were muted ahead of the data release with little change in row crop values while wheat followed the path of least resistance….lower. In Europe the cold wet weather continues to delay spring field...

Not to be out done by the USDA the IGC have got in first with their first 2018-19 world wheat estimate. The numbers look better than expected with a fall in production across some of the major producers. This includes a 10mt decrease in Russian wheat output. The final...