The bargain hunters were in the mix last night picking up “cheap” corn and soybeans at Chicago. Wheat found support but still struggled and closed a little lower in all three grades. Talk of potential weather damage to the wheat crops in the Baltic region assisted the bulls. A...

It was WASDE night last night and it appears to have flushed out the bears. Wheat, corn, and soybean futures in the US were all sharply lower. Let’s have a look at the wheat side of the report and see what the USDA have thrown in the pot. First...

Wheat futures in the US turned around last night, shedding AUD$19.37 per tonne in the nearby contract at Chicago. The decline in the September and December SRWW and HRWW futures were not that dissimilar. Drier weather in the lower HRW states is helping to clean up harvest there but...

We have a USDA World Ag Supply & Demand report due out on the 12th, mid next week. Some analysts are explaining away this week’s volatility as positioning prior to the report release. Technically Dec22 SRWW at Chicago is overbought, but we could see another day or two of...

Looks like the “bargain” hunters were active in US futures last night. Not the only hunters active, looks like someone cleaned out the UK parliament with a shot gun too. Rat’s fleeing a sinking ship, something more sinister in the near future, who knows, but it is certainly one...

US corn and soybean futures found some support last night, both a little higher after some heavy selling in the last couple of sessions. Wheat futures in the US were mixed but did trend lower. The soft red winter wheat contract at Chicago was slightly softer, shedding just 2.5c/bu...

Chicago corn and wheat were smashed again, soybeans left battered and beaten in the corner, it’s a was hard selling session. The funds continue to push commodities lower in fear of recession. Talk about closing the gate after the horse has bolted. It looks like all our fears are...

Russia reduced their export taxes to come into effect this week. The reduction greatly reduced the cost FOB of wheat to the buyer. This will again bring Russian wheat into play for those buyers who had not been considering Russian wheat over the last 6 months, which were few....

US wheat and soybean futures were smashed again in overnight trade. The fall takes week on week losses in Chicago soft red winter wheat to 89.75c/bu (AUD$48.40) in the December contract, closing last night at 862.5c/bu (AUD465.15). Soybeans were sharply lower, slipping 61.5c/bu (AUD$33.16) in the Jan 23 contract....

US wheat, corn and soybean futures were all sold off in overnight trade, corn and wheat getting hit the hardest. The catalyst was the USDA quarterly stocks and acres report. Corn found pressure from both higher than expected sown area and higher than expected US stocks. Sowing for corn...