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...

Remember when a 20c/bu rally in wheat was a frost event, widespread rain at harvest, a critical data correction in a USDA report, a huge export order from a buyer like China. Well welcome to the world of 20c rallies in wheat due to technical buying. Yep, the wires...

Wheat, corn, soybeans, they are all lower at Chicago this morning. Wheat was hit hard again taking another dive with both CME products slipping over 10c/bu (AUD$5.50/t). Minneapolis spring wheat futures fell around 3c/bu on the May contract. Weakness in soybeans rolled through to a softer close in ICE...

The USDA report was considered as bearish wheat, or even more bearish than some of the punters had anticipated. World ending stocks were jacked up to 270.5mt an increase of 3mt. The biggest hit came from an increase in US ending stocks thanks to slow exports, an increase of...

US soft and hard red winter wheat futures at the CME were hit hard again in overnight trade. The SRWW move when reflecting the USD / AUD exchange rate will come in close to $5.00 lower if reflected in new crop wheat values here. The recent sharp decline has...