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...

US markets took little notice of some reports suggesting India could relax their recently introduced wheat export ban. History will quickly tell you that India can and do backflip and change direction like the wind. Until we see Indian export sales loaded onto a buyers truck it will be...

The day started strongly when India announced they were to ban future wheat export sales. This took some of the trade by surprise. The portion of the trade it didn’t surprise were still genuinely amazed that India was going to export any wheat at all considering the terrible finish...

Technical support and May22 futures rolling off the board lent some support to the Chicago corn contract overnight. Not a market to be caught short in. Tight world oilseed stocks had the punters back on the buy side pushing Chicago soybeans higher, the Jan23 slot closing at 1499.5c/bu, up...

It was all about wheat in last night’s USDA WADSE report. Before we look at the number let’s just take a second to absorb, inhale if you will, what is a wheat market on fire. Dark northern spring wheat is now priced at US$14.02c/bu, Pacific Port elevator, yes US$515.13...

Technical trade prior to the USDA WASDE report out tonight saw corn, soybean and wheat futures in the USA close higher. Wheat was the undisputed winner in last night’s session, gaining some 2% – 2.5% by the close. Wheat is finding support in the US from continued wet weather...