US wheat futures continued on the path of least resistance overnight, lower. All three US wheat grades shed value, soft red winter wheat leading the race to the bottom. The move when reflected in AUD / tonne, and compared to yesterdays conversions, is helped a little by the weaker...

One of the first market reports I opened this morning was titled “What’s going to stop the slide”. Reads a little ominous doesn’t it. It’s from the USA, and is talking about futures so it may have a little drama draped over it. If the world as we’ve been...

This weeks USDA weekly crop progress report shows corn planting has progressed to 93% sown, all but done. Corn emergence sits at 76%, and the condition of the US corn crop is rated at 67% Good / Excellent. This is the first rating of the season, and compares to...

The market wires are telling us that the pressure on grains is coming from lower crude oil futures this morning. Talks between Iran and the USA will be crucial in determining the future direction of crude oil, but at the moment the punters can see an end to war...

Corn and soybean futures at Chicago closed in the green. Some wires already announcing the start of the new rally, obviously those on that side of the fence have a book to talk this early in the “recovery”. Both Winnipeg canola and Paris rapeseed futures moved higher. Cash canola...

US wheat futures pushed lower again overnight. Ignoring the further deterioration of the US winter wheat crop, and instead concentrating on sowing progress for spring wheat and international values. Volume in the July slot was high with 69,341 (9.43mt) contracts changing hands, open interest is still over 33mt. S.Korea...

The USDA weekly crop progress report is the focus this morning. Corn planting has progressed to 86% complete and the crop is 60% emerged. The sowing pace is bang on the same rate as last year and 3pts ahead of the 5 year average. The condition rating is expected...

A public holiday in the USA will delay the release of their weekly crop progress report by one day, it’s due out tonight. Over the last 7 days the US Midwest, and most location east of the Mississippi, have seen some good rain, 25mm to 75mm across Iowa, Missouri...

International futures markets were mixed, wheat a smidge lower in the US and France, corn, soybeans, rapeseed a smidge higher. There wasn’t a huge swing one way or the other, but I continue to find it odd that wheat is slipping considering the conditions in the US and a...

Net US export sales data show good volume for corn, 2.125mt booked, that is well above the average trade guess leading into the report, which was only 1.6mt. Soybean sales volume was ho-hum at 351kt, in the middle of the pre-report trade estimates. Wheat was terrible, as expected. The...