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...

Kansas wheat futures lead the US grains market higher in overnight trade. KC HRW May 18 was up 11.25c/bu (AUD$5.30/t) by the close with slightly lesser gains across the outer months. Technically the contract is overbought, it may have another session or more upside in it but the charts...

It appears the funds are now placing bets as to which commodity will be the winner for summer crop acres in the US and the punters favourite appears to be soybeans and why wouldn’t it be. The funds appear happy to buy up corn futures in anticipation that corn...

After a series of lower closes since last Friday Chicago wheat futures saw some technical trade support an otherwise oversold market last night. Volume in the May contract wasn’t huge but we are seeing less activity in the March as it nears expiry. There’s a bit of news filtering...