Crushed, hammered, beaten, it doesn’t matter what word you use the US futures market got a little ugly last night. All three wheat grades, corn, soybeans, even cotton was lower by the close. Wheat was hardest hit, the CME nearby soft red winter wheat contract shedding AUD$35.83 per tonne....

A quick look around the world weather. Western Saskatchewan and Alberta remain relatively dry, this is becoming an issue with the finalisation of sowing on spring wheat, in particular durum. The durum that has been sown in the drier parts of the N.American durum belt is looking for rain....

US wheat, corn and soybean futures all closed in the green last night. The spread between December 2022 wheat contracts at Chicago for soft red winter wheat and hard red winter wheat is now around 74.75c/bu or just over AUD$38.00 per tonne. The spread between MGEX spring wheat and...

US futures were mixed, all over the place, the common trend seemed to be upward momentum in the spring sown crops to the north and in Canada, like northern US soybeans and spring and durum wheat. The hard red and soft red winter wheat values were lower as was...

US futures market were a little unsteady last night. Soybean futures lead the Chicago market lower, slipping 12c/bu on the nearby. Wheat at Chicago was a tad softer and spring wheat a tad firmer at Minneapolis. Corn followed the trend lower off just a couple of cents nearby and...

US wheat futures found considerable weakness again today, making 4 of the last 5 sessions a lower close. Losses in Chicago SRWW nearby futures from the high close of 1277c/bu set on the 17th of May now amount to 122.75c/bu (AUD$63.46). Values out of the US Pacific North West...

Victoria Day public holidays in Canada means we don’t have an ICE canola number to work with this morning. Paris did trade overnight, the nearby contract for rapeseed slipped E9.00. The Feb23 slot also fell but only by E5.25 / tonne (AUD$7.90).  Paris rapeseed may have taken its lead...

Wheat futures at Chicago and Minneapolis were sharply lower for the 3rd session in a row. Profit taking was said to be the major influence in price direction but at these levels demand destruction can’t be overlooked. For instance, spring wheat out of the Pacific North West was priced...

Chicago wheat futures continue to slip away from the high set on Tuesday. What a week wheat has had at Chicago, covering a range of 126c/bu since this time last week, almost AUD$66 per tonne at today’s exchange rate. One futures contract consists of 5000bu, 136 tonnes, so if...

US wheat futures were hit pretty hard last night. After putting on 100c/bu in two sessions I can’t say this wasn’t a little expected. Technical selling and profit taking will dominate the market with just the slightest rumour of downward potential at these levels. Realistically the wheat market in...