US hard red winter wheat futures move convincingly higher, soft red winter wheat and spring wheat are higher, just not as convincingly. The move has a few of the punters in the US tipping near term wheat highs could be in. Are they talking their book, having a stab...

The US had a day off last night, so no Monday trade to report this morning from there. At Paris, milling wheat was sharply higher, the nearby futures contract closing up E7.75, the Dec24 slot was also higher, closing +E7.50. The upward momentum carried across to corn futures there...

The better grade wheat wheat futures in the US continued to push higher overnight, but soft red winter wheat futures found resistance and closed a smidge lower. The move lower in SRWW didn’t hurt the good weekly gains in all three wheat grades. Hard red winter wheat futures at...

US wheat, corn and soybean futures closed lower in overnight trade, not by much, the weaker AUD almost taking care of much of the move in grain values once converted to AUD / tonne. The futures markets in the states are still seeing a little profit taking after the...

Russian wheat analyst SovEcon lowered their 2024 wheat estimate by a massive 7.3mt to 85.7mt. Confirming that recent hot dry weather and late frosts have pruned yields enough to see the 2024 crop fall 1mt below the 5 year average. The central and southern regions saw the greatest reductions....

Both world cash and futures values for most grains were lower last night. Technical Tuesday, profit taking, call it what you will, maybe a reality check. The situation in Russian warrants watching but to say there’s been a disaster in regards to frost in wheat is probably over kill....

The two big movers in overnight cash markets were chickpeas delivered Delhi market and white wheat out of the US Pacific Northwest. The move in US white wheat values reflected more than the jump in Chicago and Minneapolis wheat futures. In Aussie dollar terms the move higher in white...

The May USDA World Ag Supply and Demand Estimate report held data estimates for the 2024-25 world wheat crop for the first time. The data was not bearish wheat at all. When looking at the stocks to use ratio for major exporters it starts to drive home just how...

Some of the flood pics and videos coming out of Rio Grande do Sul show an incredible amount of water flooding any low lying areas along the Jacui River. Much of the city of Canoas (pop 350k), north of Port Alegre is now submerged. The bulk of the farming...

It appears that Monday nights rally in US wheat futures may have just been a “dead cat bounce”, not unlike the black and white cat found a little contorted at the gate when I arrived this morning, he wasn’t about to jump up and run away either, RIP unknown...