US wheat futures seem to be happy to trade around current values +/-. The combination of a slightly firmer AUD and lower futures may weigh a little on local track values here today, but the firmer AUD may also help to claw back some of the recent basis losses...

US wheat futures gave back a slice of the recent rally overnight. Nothing has changed a great deal from a fundamental perspective. NW Kansas is seeing temperatures down around -20C. Further south towards the Oklahoma border overnight minimums were around -15C +/-, which is very cold. The snow cover...

Most international grain futures closed in the green last night. The Euro markets and US markets were higher apart from Winnipeg canola which stumbled a little, closing slightly lower on the nearby months. Both Paris milling wheat and US HRWW futures were higher, Paris putting on €3.25/t in the...

The US markets were closed for Presidents Day, leaving the corn bulls with little to eat and global wheat markets somewhat directionless. Paris milling wheat found a direction in time, downwards, if in doubt sell it out. Nearby milling wheat futures shed €3.25, the May slot –€2.00 and the...

It appeared to be all about US wheat futures last night. Lately the futures market seems to be responding more like a “past” market than a “futures” market. The USDA will release some slightly bullish data, say good export numbers, on the day the market will fall, only to...

Another cold snap is forecast for the US over the next few days. Overnight minimums crept as low as -30C in Minnesota. Across the hard red winter wheat belt temperatures were as low as -17C in parts of north central Kansas. Unlike the last freeze this time around much...

Chicago corn futures were the only futures contract in the US and EU markets that had some upside last night. Weaker Chicago soybeans dragged both Paris rapeseed futures and Winnipeg canola futures lower. The oilseed complex ignored the gains in palm oil futures, instead taking the lead from WTI...

At a glance the February WASDE report isn’t bearish wheat but looking further into the data you tend to realise it’s not that bullish either. At a glance the 1.26mt reduction on world ending stocks looks promising. Drilling down a little into the data reveals that ending stocks from...

We have a USDA World Ag Supply and Demand Estimates report due out tonight. There’s plenty of speculation and positioning in the futures market leading up to the report as usual. Analyst expect to see a reduction in both US corn and soybean carryout and US wheat stocks are...

All major world grain futures markets were softer overnight, bar Winnipeg canola. Not sure what that’s about, maybe they are just happy they are still not part of America. Chicago wheat, corn and soybeans all closed in the red. Wheat handed back a slice of yesterdays sharply higher close...