Chicago soft and hard red winter wheat futures were lower in overnight trade. Global fundamentals are unchanged with issues in spring wheat crops in the USA, Canada, Russia and harvest delays in the EU offering support. After closing higher for the previous six sessions a round of profit taking...

Zhengzhou in central Henan province China has seen up to 617mm of rain over three days. It’s being labelled a 1 – 1000 year rainfall event and has created serious flooding. The region is a densely populated agricultural region with the Yellow River threading through the northern quarter of...

A quick glance at the December charts for corn and wheat at Chicago shows both contracts are relatively neutral at present. Wheat initially found some selling pressure early in the session which saw the bargain hunters in and support pushed the market back above the open before late session...

The weather is certainly playing it’s hand in crop development this year. Drought and heatwave conditions across the Canadian Prairies and the US spring wheat belt. Floods in parts of Europe. We are about 50mm away from a winter flood in many parts of eastern Australia if not been...

US wheat futures continue to rally as the punters are starting to realise that a 4 week dry spell in the spring wheat belt of the USA and the Canadian Prairies combined with some serious heat is about all they can handle. The punters are starting to call the...

The drought across the US spring wheat belt and Canadian Prairies is now the main driving force in wheat futures, as one might expect. If you are not following my twitter account or joined the Dolbel Consulting Facebook group please do. I’ve been sharing the odd picture from the...

Chicago soybeans were firmer overnight. The Jan22 slot rallying 31c/bu (AUD$15.22/t). Unfortunately the rally was not reflected in either the Paris rapeseed contract or ICE Canadian canola. Both Paris and Winnipeg saw some downside. The fall appears to be technical, profit taking. From a fundamental perspective prices have probably...

At Chicago soft and hard winter wheat gave back a little of yesterday’s gain while the spring wheat contract at Minneapolis continued to push higher. The nearby slot at MGEX was up just 7c/bu while cash settled at MGEX was up more than 40c/bu and closing above the US$10/bu...

A quick glance at last night’s USDA WASDE report. US corn opening stocks lowered, resulting in the lowest stocks to use ratio for US corn since 1995-96. Surprisingly the USDA increased production by showing a larger sown area and keeping harvested yields unchanged at 179.5bu/ac (11.26t/ha) average. Big call,...

US futures were mixed, corn and soft red winter wheat were lower while soybeans and hard wheats were higher. ICE canola futures were limit up across new crop months again with Paris rapeseed futures following the lead at Winnipeg. Technically we see corn futures going into Monday’s USDA World...