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...

And just like that the rally in wheat since last Friday is given back. US wheat futures closed lower across all three contracts last night. The US weather map is unchanged, it’s still predicted to remain mostly dry across the HRW belt over the next couple of weeks. The...

Hard red wheat futures in the USA are still overbought, will we see a correction tonight prior to the USDA report on Friday our time or is the trade betting that the USDA will confirm that the HRW crop is indeed shaping up poorly. Be wary of the “buy...

US soybean and wheat futures rallied against some expectations in overnight trade. Soybeans continue to find support from the dry weather in Argentina. The 4-7 day forecast for Argentina shows a few light showers across the driest regions but nothing of any volume. The 15 day anomaly suggest much...

Technical selling, profit taking, reality, call it what you will but at the end of the day US wheat futures gave back a good slice of Thursdays gains. Mind you week on week we still see some good gains with HRW leading the way at +$25. So where to...

Big double digit gains for wheat and soybeans futures in the USA should ripple through the markets today, or not. In the last four days hard red wheat futures have put on 53.25c (AUD$25.29) on the nearby contract and 48.25c (AUD$22.92) in the July contract. Over the same period...