It's been another difficult year for grain farmers with substantially below-average winter rainfall followed by a hot, dry spring.
East coast wheat prices steadied in recent days following the sharp rally in the past month as buyers anxiously wait for new crop supplies.
Local wheat markets have been flat to firm as September rolls on with little meaningful rainfall to speak of.
As the old crop stocks dwindle and the new crop market continually moves with the weather forecast, there has been heightened levels of volatility.
The United States Department of Agriculture shocked almost everyone when they barely reduced corn planted hectares despite the slowest planting pace on record.
Growers, agronomists and merchants have been heading out into the field to inspect the conditions of canola crops across NSW.
On an aggregated basis across major agricultural futures markets, non-commercials make up 38-39 per cent of total positions, or open trades, in the market.
World agricultural commodity markets look set for continued volatility as the trade truce between the US and China appears to be dead in the water.