Soybeans were a clear winner in last night’s USDA World Ag Supply and Demand Estimates report. US soybean average yields were lower than expected resulting in lower production estimates. The trade had guessed yields would increase to 3.49t/ha but the USDA adjusted yields lower to roughly 3.44t/ha. Not a...

Corn and wheat futures in the US stabilised while soybean futures at Chicago slipped a little lower. During October Chinese soybean imports slipped 41.2% from the same time during 2020. Importing 5.11mt this Oct vs 8.69mt last year. China continued to chew through a poor winter crop with feed...

US corn, wheat and soybean futures at Chicago all followed the same path lower, a the trend this week. Profit taking and positioning prior to next Tuesdays WASDE report seems to be the key to it all at present. Chicago Dec wheat does appear to be looking a little...

US futures were lower as traders look to “square up” a little prior to next week’s WASDE report, continue to take profit and roll December futures contracts. The lower volume and liquidity at Minneapolis lead to significant pressure on both cash and futures for spring wheat. The decline in...

Profit taking in wheat futures at both the US and European exchanges saw futures values for wheat lower in overnight trade. With the December slot closing in on the punters those not looking to be executed would start to liquidate or roll their long position over November. This may...

It appeared to be a sell wheat and corn and buy soybeans at Chicago last night. After a few good rallies in both wheat and corn in recent days there appeared to be some profit taking on the back of a big Australian wheat crop and poor US wheat...

US wheat futures rallied nicely overnight. All three grades putting on double digit gains. Paris milling wheat wasn’t about to be left behind either with the December contract closing E8.00 higher and the March up E5.50 per tonne. Cash prices out of the US Pacific Northwest and across the...

US grain futures at Chicago were relatively stable overnight. Soft and hard wheat generally trending a little lower while corn was a little higher as were soybeans. The biggest mover was MGEX spring wheat futures which put of 14.75c/bu (AUD$7.20) on the Dec21 contract. Minneapolis cash was also sharply...

Saudi Arabia are back in the market for 655kt of 12.5% milling wheat for arrival in Jan > April. If Egypt picked up Black Sea wheat at US$360 C&F yesterday that would have to price Black Sea wheat into Saudi Arabia at something like US$385. For the sake of...

Wheat got a leg up from corn in the Chicago session overnight. Corn found fundamental support from a EIA data showing US ethanol production at a near all-time high, producing 19.93 million barrels (159ltr/barrel) last week. The US cash market for corn was mixed with basis bids anything from...