All three milling wheat futures contracts in the USA were lower in overnight trade, the SRWW contract at Chicago leading the way. Technically the wheat contract was due for a little profit taking and this coincided with thoughts that the world may be heading towards an economic slowdown……. Sherlock...

Chicago corn, wheat and soybean futures all bounced higher in overnight trade. Technical buying helped push futures higher. There may have also been some inflow of money from Wall St as the Dow fell 732 points on the back of the thought interest rate rises are still on the...

Profit taking dominated the US markets with soybeans, corn and wheat futures all falling against a possible uptick in demand. I say possible increase because the number the USDA put out, soybeans at 300 million bushels, should have sent the market surging higher. The punters instead dismissed the number...

US grain futures were mixed last night, corn was a smidge firmer nearby while a smidge weaker in the outer months. Soybeans were back a little, leading the oilseed markets lower with both ICE and Paris canola slipping away. Wheat futures found support, the rally countering the move higher...

US wheat futures found spill over support from the corn and soybean pits which found their support from lower G/E ratings on Tuesdays weekly crop progress report. Fundamentally wheat has little reason to rally from a global perspective. Increased competition from the Black Sea and confirmation Germany will see...

Grain futures in the USA were higher, bucking the trend lower in oil and fuel and moving against a firmer USD. A dry weather outlook supplied some positive sentiment for the row crops. Soybean futures at Chicago seeing moves of 30c+ through to the Aug23 contract. The strength in...

Russia reduced its wheat export tax for the following week by US$3.93 to US$80.75 per tonne FOB. Traders and farmers have been canvassing the government to further reduce the export tax on wheat. With a record crop likely this year the only thing supporting an export tax is grade....

International analysts are torn between “we are about to see the biggest bear market of all time”, to “the lows are in, get ready for a massive jump”. There is basically a report out there to cover any sentiment you wish to carry now. Only time will tell who...

The USDA World Ag Supply & Demand report was out last night. The focus was generally on corn production estimates in Europe and the US, wheat production in Russia and Ukraine exports / ending stocks. Starting at the beginning, US corn production was reduced from 368.44mt last month to...