US wheat futures were lower again in overnight trade. A quick look at the charts and the stochastic indicates that the December CME soft wheat contract is now very much oversold. There is no law stating that it can’t remain this way for a little while but fundamentally at...

International futures and cash markets were very flat overnight. Asian consumer values were unchanged as were most offers out of the Black Sea region. Tunisia are tendering for 125kt of milling wheat and Japan are in for 105kt of wheat from the PNW. We now see both the UK’s...

A quick look at cash prices around the world and we see most wheat values a little weaker overnight. Currency may counter the fall in US dollar values for many exporters, including Australia, but in USD terms prices are generally weaker by a dollar or two. US wheat futures...

Wheat futures in the USA  managed to break away from weakness in the soybean pit last night and close fractionally higher in all three grades. Although soybeans closed the session lower we also saw both ICE canola futures and Paris rapeseed close higher. The slightly stronger AUD will erode...

A combination of poor weekly US grain exports and a better weather outlook for harvesting the last of the summer crops saw US futures weaker across the board. Soybeans lead the demise of the oilseed market shedding 22c at Chicago. US corn exports were a miserable 380kt, soybeans were...

US markets were directionless with little new data to consume. With Canada legalising weed at least they now have another import market to get revenue from, American tourist, who will be the first weed chain café owner along the northern US border. Weakness in US wheat futures came from...

A better weather outlook in the US for those trying to finish the summer crop harvest saw technical selling dominate the US futures markets resulting in a close lower for corn, wheat and soybeans at Chicago. Warmer, dry weather across the Canadian Prairies should also help those farmers there...

In the USA soybean futures lead the market higher. Weekly export inspection volume is the key to it with the US loading more than double the average trade guess prior to the report. China appeared on the books with 135kt or orders. This will be one of the few...

Storms are active along the NSW / Vic and SA border regions this afternoon. Looking at a cloud map it’s pretty obvious the high cell in the Tasman is combining well with the low cell off the SE coast of QLD to push moisture laden air west of the...

The USDA report was basically bullish corn, neutral soybeans and bearish wheat. More bearish US wheat than anything so just remember that US wheat futures are US wheat price indicators first and then global wheat price indicators second. A quick look at the WASDE report shows world wheat production...