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...

Funds were net sellers of the three main grains in the US last night pushing corn, wheat and soybeans lower by the close. Wheat was the worst performer closing lower across all three grades. Poor weekly US exports and the prospect of some good rainfall across the central and...

US futures markets were generally flat with a little upside in wheat. Strength was garnered from further reductions in Argentina, this time corn production was cut, shedding 2mt from 34mt down to 32mt. It will be interesting to see what impact this has on prices tonight if US exports...

US grain futures were either side of unchanged overnight. Wheat was generally softer on better weather in the US while soybeans were a tad firmer on the back of good import demand from China and poor weather in S.America. Corn was a follower and closed the session out flat...

Talk that yesterdays sell off in the States was overdone supported US futures overnight. Volume on the physical side was also reduced and farmers and processors walked away from the market after the sharp decline on Monday. Wheat futures were either side of unchanged with thoughts that the recent...

Over the last week or so the funds had managed to build a long position in US grains. Last night saw this position, or a fair chunk of it, most likely liquidated in one session. US soft red wheat futures gapped lower triggering sell orders to the close, where...

The GFS model is predicting some useful falls across much of Kansas on Monday. The forecast of rain across the HRW belt and technical selling saw HRW futures at Chicago sharply lower by the close. The rain in Kansas is expected across the driest parts of the state too....

Sometimes you just look at these USDA reports and think “something isn’t right here”. Last night’s wheat numbers gave me that feeling. World wheat production was increased a little while overall consumptions was reduced a little to give and increased carry out. This pumps up the world stocks to...