US wheat futures closed higher on further short covering and speculation America (not Russia) has a chance to fill the supply void being left by an ever decreasing supply of wheat from France. Overnight French officials reduced expected yields to a 30 year low of 5.57t/ha, the lowest since...

US soybean futures were the only grain that came out of last night unscathed. Over the last seven day the US has sold 2.3mt of soybeans, that’s a lot. During the same seven days the CME soybean contract for Sept has fallen 42c/bu. US wheat futures continue along the...

US wheat futures closed higher after setting ten year lows on Tuesday. Technical buying saw the bottom pickers in buying up cheap contracts and funds covering exposed shorts. Fundamentally nothing has changed and wheat will continue to struggle as the world consumes what is likely to be another record...

The RBA just can’t take a trick can they. They cut interest rates 0.25%, the AUD/USD drops almost immediately, job done, no not quiet. The Japanese come out and ruin it all. The USD ended the session much weaker against all currencies benchmarked against it. The consensus is that...

Outside markets, lower crude values, a good US weather map and a stronger USD all had grain futures struggling to stay in the black. Soybeans were hit worse, the lower oil values didn’t help but the main killer there was the better weather outlook. Both the US corn crop...

A sharply lower US dollar and good weekly US export sales of soybeans saw beans drag corn and wheat higher in overnight futures trade. Canola futures at the ICE saw gains but not of the magnitude in the soybean pit. Paris rapeseed was mixed with futures closing either side...

Just when you think the world wheat crop is big it gets bigger. In the July IGC report they have increased world wheat production 6mt  to 735mt the same as the record crop of 2015. What ever happen to the saying “bad prices fix bad prices”. I’ll pen a...

US soybean futures closed higher, some say it’s a corrective rally after recent sharp losses, some say it’s due to some good export sales to China. I’m tending to think the former is the main driver here as the volume into China wasn’t especially great. As with most moves...

And just like that the last three days of higher closes in US soft wheat futures are eroded. It took nothing more than a reality check and a quick look at wheat production around the world. Yes France is going to be much lower than last year, Germany and...

Poland and Germany look likely to be the next victims of the wet weather in Europe. With the French wheat harvest well under way estimates for production continue to fall. Last night did see Paris milling wheat futures close lower but only after a 9% increase over the last...