US wheat futures found continued support from Thursday’s USDA WASDE report. Lower world and US wheat ending stocks encouraged speculators to build longs in wheat futures. Reductions in Russian wheat output were larger than many had expected to see and is key to the mid-term support for wheat values....

USDA WASDE report was out last night. It was a good one for producers. A quick look reveals reductions in wheat, world carry in stock were lowered 1.35mt to 288.83mt, world productions was lowered 15.49mt (less than a few had expected) to 776.91mt. Demand shrunk with reduction in imports...

Spring wheat futures in the US were a little weaker overnight, Minneapolis shed 1.75c/bu (AUD$0.90) as the punters continue to “square up” ahead of tonight’s WASDE report. North of the US border we see cash bids for spring wheat in SE Saskatchewan were reflecting the move in futures with...

Cash prices for spring wheat and durum across SE Saskatchewan rallied again overnight. Spring wheat was a little more subdued than durum only increasing the average cash bid by C$3.11 to C$372.13 per tonne for a December pick up ex farm. 1CWAD13 durum was up C$19.57 per tonne for...

Looking at cash prices in Canada you can quickly determine how bad the drought is. Feed barley is bid as high as C$400 ex farm in Southern Alberta. Looking at the weather forecast on World Ag Weather one may come to the conclusion that things are only going to...

After a couple of days of lower closes technical traders push back into the US wheat futures market as buyers, now deciding that fundamental strength is the guide after a number of major producers reduced production estimates during the week. Locally we see Australian production remain strong with some...

Cash bids for both Canadian spring wheat and durum took a moment to catch their breath overnight, both slipping less than a dollar. To see durum values begin to consolidate at C$530 +/- a few dollars ex farm SE Saskatchewan is encouraging for the longer term price of durum....

It was a bit of a sell wheat / buy soybeans session at Chicago. Technical selling contributed to a round of profit taking in the wheat pit after a generally softer July. It’s harvest in the northern hemisphere after all. All three US wheat grades finished the futures session...

Cash bids for 1CWAD13 durum out of SE Saskatchewan were steady in overnight trade. A December lift is now bid at C$475.58 per tonne ex farm SE Sask. On the back of an envelope this would equate to something close to AUD$586 /tonne delivered Newcastle port. This is using...

US wheat futures were sharply higher in overnight trade. All three grades putting on double digit gains with HRW leading the charge. Continued reductions to prime wheat across most northern hemisphere producers the key to the rally. So far the lower supply side has been the key to higher...