US wheat futures handed back recent gains and thus continued on their path lower. Chicago corn futures found support from technical trade, and also news of an export sale of 200kt to an unknown buyer. US internal cash bids for corn were mixed, some locations increasing basis while others...

The US markets were generally technical in nature last night. The funds hold a record short in some grains and with harvest starting to wind up in the US there’s potential that managed money may start to take profit and relocate these funds to a more volatile position. Some...

US wheat futures were mixed, generally finding support from short covering in the futures market and a reduction in the G/E rating of the French crop, which is now being harvested. French soft wheat fell from a rating of 57% G/E last week to 52% this week, that’s a...

Paris milling wheat followed Chicago soft red winter wheat futures lower. Hard red winter wheat futures were flat to firmer, while spring wheat futures gained 8.75c/bu (AUD$4.79) in the December slot. Cash bids for 1CWRS13.5 spring wheat across SE Saskatchewan were up roughly C$5.90 for a December lift, closing...

The bottom feeders are active in wheat, physical and futures. Egypt picked up 770kt of milling wheat, mostly Russian but also 50kt of Bulgarian. The value was poor, lower that anticipated, but the volume was more than was expected. Algeria had a 50kt tender filled, Algeria do not make...

Chicago saw some bargain buying, but mainly in corn futures. Wheat, at this stage, remains the red headed stepchild and was again forced into the broom closet for another night. Outside markets helped US corn futures too, the punters pushing the Dow to another record high of 40,880, while...

It was a sea of red out there in the futures markets last night. One can only assume the funds were happy to extend their now record short position in many commodities. The weakness wasn’t restricted to just the synthetic market, cash prices out of the US Pacific Northwest...

It’s hard to be optimistic at present. I was half thinking it may have turned out to be a sell the rumor, buy the fact type of WASDE response, but it appears to be a sell the rumor / sell the fact / sell everything kind of response. Grains...

EU soft wheat production is expected to fall further than initially expected as the French crop is showing signs it could be much worse than originally thought. After a very wet season across France, that hindered all phases of crop development, from sowing to harvest, the projection is for...

US wheat futures continued down the path of least resistance last night, all three major grades closed lower. Cash values out of the Pacific Northwest were also lower, HRWW and Club White wheat out of the PNW now the same price. Not a great thing to see when one...