It appears the Monday rally in US wheat futures was nothing more than a dead cat bounce, failing to run anywhere and threatening to die in the meantime. A bit like the US hard red winter wheat crop, that the punters appear to have forgotten about until the next...

World grain futures markets appeared to have taken half a breather last night. Digesting the Xi / Trump brief, the USDA crop progress report and falling demand for wheat as US, Argie, EU and Aussie prices remain high, or climb a little higher, may take time. Black Sea wheat...

The weekly USDA crop progress report was out overnight. Corn sowing has progressed to 76% complete, bang on the same as last year and 6pts ahead of the 5 year average. Soybean sowing is also progressing well, at 67% sown it’s above the pace of last year, and the...

International futures were a sea of red, apart from Paris rapeseed and Winnipeg canola, which in itself is surprising given that Chicago soybean futures continued to push lower, back 15.5c/bu nearby and -12.25c/bu in the Jan 27 slot. Paris rapeseed futures gained E5.75/t nearby and E4.25/t in the Feb...

The WASDE data appears to now be a distant memory. The sudden realisation that the US HRWW crop is a bit shagged hardly even rating a mention for the algo traders. Chart trading bears might be eyeing off the gap in the chart at 636c/bu, lets hope not. One...

US grains tried to hold onto the recent rally at Chicago. Corn and soybeans succeeded, but all three major wheat grades gave back some gains. There was talk December futures for hard red winter wheat were going to test 800c/bu, but closed the session at 750c/bu. The US 2026-27...

Chicago wheat futures focused a little more closely on the weekly USDA crop progress report last night, probably giving the decline in winter wheat crop condition in Kansas the attention it deserved. Chicago HRWW jumped 45c/bu, or if you live in the 21st century, that’s roughly AUD$22.84/t at this...

We have a USDA World Ag Supply and Demand Estimates report due out tonight. The trade have mixed views on what this report will hold. Some expecting to see the USDA reduce US exports, increasing 2025 wheat carry out. Some expect to see little change. Funds are long. One...

Algeria picked up approximately 390kt to 420kt of soft wheat during the week. Numbers are estimates for price and volume, due to Algeria not actually confirming their trade data. The trade had expected to see volume closer to 650kt, so 420kt was a little bearish to the market. Prices...