US wheat futures were lower. The Chinese cancellation announcements appeared to be the major influence but there was also technical selling in the wheat pit. Fundamentally the impact the Chinese cancellation of US and Australian wheat will have longer term on the market will depend on if they re-enter...

There’s an increasing amount of speculation that the bottom for wheat might be in, for futures at least. The funds appear to be covering their short position at both Chicago and Paris. To date this has been done in a relatively orderly fashion, although the volatility in HRWW futures...

I don’t think I’ve ever seen the 5 nearby corn contracts at Chicago all close unchanged before. It’s not like there was a lack of volume in the May contract either. Approximately 121,994 contracts changed hands, that’s 15.24mt, in a range of just 7c/bu. Some reports assume that without...

US wheat futures continued higher, ignoring a technically bearish US wheat USDA report on Friday. The lastest WASDE, although a little bearish US wheat, with increasing ending stocks there, was fundamentally a benign to slightly bullish report for international wheat. The US wheat futures market has been shorted by...

It was USDA World Ag Supply and Demand Estimates report night for their March stab in the dark. I’ll concentrate on wheat to start with. From a global perspective the report initially looks benign, if not a little bullish for wheat. Looking further into the data and blowing away...

There are reports of wheat crop damage in India. Storms have flattened many fields according to a Reuters report. A producer in Uttar Pradesh has been quoted as stating his entire crop has been flattened and will now need to be harvested by hand. The crop was just 2-3...

Technically May wheat could see further selling in the lead up to this weeks USDA report. Fundamentally this months WASDE report is expected to be benign. This time of year most old crop production is well known and the market is relying on demand to drive prices. With the...

With a USDA World Ag Supply and Demand Estimates report due out at the end of the week there’s a bit of speculation creeping into the market. The main interest seems to be in the USDA potentially reducing their estimate for the Brazilian soybean crop. Currently they have it...

The Chicago soft red winter wheat contract continues to hold up well against further losses in both corn and soybeans. The nearby wheat contract saw volume at 35,709 contracts (4.85mt) last night, the May 2024 contract saw volume at 74,376 contract (10.11mt). Looking at the May chart for soft...

Chicago wheat futures done well to limit losses after sharp falls in both soybeans and corn weighed on the markets. Losses in HRW and Spring Wheat futures were reflected in cash values FOB US Pacific Northwest. HRW will work into Japan from the PNW for roughly C&F US$276, roughly...