It’s USDA WASDE time, grab a coffee and let’s have a look at what kind of sorcery the USDA analyst have conjured up for the December report. Sticking with wheat we see world production increased by 1.28mt to a record 773.66mt. Luckily to counter this we see an increase...

As mentioned earlier in the week the technical side of the US futures markets had been indicating things had gotten a little oversold in wheat, corn and soybeans over the last week or so. Last night we saw what was probably a small correction as a few of the...

There’s a USDA WASDE report due out tomorrow night. That came around quick. Those that know me know I like to follow two things when trying to determine market direction. Firstly I’m a firm believer in the fundamentals when talking physical price, cash prices, the laws of supply and...

As the northern hemisphere heads into the winter dormancy period don’t expect any significant market moving news. We may be in for a short period of sustained or rangebound prices. Managed money has pulled back their speculative position in both US and EU futures markets in search of greener...

Chicago corn, wheat and soybeans were all lower by the close. Even the untraded Platts APW1 Aussie FOB wheat contract at Chicago closed lower, back US$6.00 for a Feb 21 slot. Settlement for the Aussie product was estimated at US$257.50 for a Feb slot, this would roughly equate to...

Argentina’s wheat crop, a crop that was rated at 52% poor on October 14th, is now 39% harvested. During the harvest period we’ve seen crop condition ratings improve. The trade are suggesting thanks to the late rain but we all know how late rain can impact on a crop,...

S.Korea picked up 31.6kt of wheat off the US and Canada overnight, according to some reports it was for various grades, generally higher. Considering S.Korea are also tendering for 45kt of Australian wheat one might consider it is a blending exercise. The average price for the N.American purchase was...

Both ICE canola futures and cash bids for canola out of SW Saskatchewan improved overnight. Futures closed C$5.40 higher in the Feb slot while cash bids for a Feb lift XF SW Sask rallied C$4.99 to C$556.34 ex farm there. On the back of an envelope using the same...

Cash bids for US grains out of the Pacific North West were flat to lower. White wheat held onto values while both DNS wheat and HRW slipped a few cents per bushel. Club white wheat with 10.5% protein was bid at US$248 FOB PNW, which on the back of...

In the US HRW and DNS wheat clawed back much of the loss incurred on Wednesday. Punters took it as an opportunity to do some technical buying in wheat and corn and to keep the upward momentum in soybeans going. There are plenty of punters expecting to see 1200c/bu...