Wheat futures in the US basically finished the week close to where they started, or a little lower. The Black Sea conflict was used as the catalyst for last night’s rally. Wheat goes up, it’s the Black Sea conflict, wheat goes down, it’s the Black Sea conflict. It’s safe...

US wheat futures found some pressure from technical selling last night. Weekly US wheat export sales were within trade estimates, which were not enough to keep the momentum of the previous session alive. News of a ship leaving Odessa with Ukraine naval assistance my also suggest that the glut...

The funds were back in the Chicago grains market last night, picking up corn, soybeans and wheat. Corn and soybeans were the main beneficiaries and both managed a higher close. Wheat was mixed, SRWW a tad lower, while HRWW and spring wheat futures managed a few cents more by...

US wheat futures and global cash prices were lower overnight. US futures found little fundamental support as condition ratings for their spring wheat crop improved, unlike the Canadian crop to their north. Drought monitor maps for Canada show a slight improvement for some parts of the northern cropping districts...

This weeks USDA crop progress report is likely to hurt corn and soybean futures a little. The trade had generally thought conditions would have improved given the recent better weather, the jump in beans was larger than expected. The corn rating jumped 2 points in the G/E rating, now...

The USDA monthly World Ag Supply and Demand Estimate report was out last night. Let’s have a quick look at any changes in wheat. World production was back 3.3mt to 793.37mt, that’s still a very big crop. There were a number of consumptive adjustments that countered both the lower...

Last night was a pretty boring session for most futures markets around the globe. Was it positioning ahead of the WASDE report, a void of bullish news out of the Black Sea, no new demand news. They say the bulls need feeding everyday in the futures market. Some days...

The international market continues to paint a moderately bullish picture for milling wheat. If we overlook the technical slip in US wheat futures values overnight, as that is probably more a function of positioning prior to the WASDE report out at the end of the week than anything fundamental....

Egypt confirmed they picked up 235kt of Russian wheat overnight. Values are US$12.50 to US$15.50 higher than the last tender but payment terms were also modified and reflect the longer payment interval. Even so, in real terms the price of the wheat was also a little higher than expected....

There’s lots to look at in international grain markets this week. We have a USDA World Ag Supply and Demand report due out on the 12th, US time, so we’ll see that data here on Sunday morning. There are reports of wheat heads going moldy around the NW of...