The game of cat and mouse continued last night. We are still trying to determine who is the cat and who is the mouse but it appears last night’s masquerade was won by a cat dressed in red, white and blue spandex, with small paws. Talk that China was...

If the USDA report is right China is finally making some headway into reducing their massive corn stock pile. At over 100mt just twelve months ago last night’s report now estimates it at 60mt for 18 / 19.  The USDA report offered corn some strength in the morning session...

The spat between Trump and China continues to look likely to hurt US soybean exports. The latest out of China confirms their intentions to reduce soybean imports and increase domestic production. Although even increasing their production to 15.8mt is still a long way from covering their consumption which is...

APW wheat from the west coast of Australia continues to be priced onto the international market. Recent activity for domestic drought relief on the east coast did inflate values but after moving US$5.25 lower to US$235 yesterday APW is now about US$22 above Ukraine values landed north Asia. This...

US corn, wheat and soybean futures were all hit hard in overnight trade. Soybeans shed 25c/bu resulting in some spill over weakness in both ICE canola futures and Paris rapeseed. US soybeans had appeared somewhat immune to the limited interest the Chinese had in them……until last night. Thoughts that...

There was a bit of profit taking in US wheat futures overnight. The HRW crop tour basically confirmed what most of the punters had thought so it may have also been a case of “buy the rumour, sell the fact” type trading. We do still come out of the...

In the US good weekly export data countered the improving weather map. Corn sales were excellent and saw losses in the corn pit limited to a cent or two. In China the government continues to have a good response to state reserve corn options. The buyer hardly has an...

US wheat futures were firmer, some reports say due to a decrease in the volume of rain expected over the next seven days. I think those talking less rain than expected may struggle to read a weather map though. Every map I’m looking at is suggesting 25mm-50mm from South...

I’ve been to a few different marketing training sessions over the years but one of the first ones I went to hammered home a very valid point which springs to mind this morning. You can do all the S&D work and weather watching you like but if politics get...

The US wheat market got hit pretty hard overnight. The prospect of rain in the HRW belt countered the delay in spring wheat sowing. The crop progress report was out after the close. It shows a 1% increase in the percentage of the winter wheat crop in the US...