Prices 30/12/16

Thin trade dominated the US markets overnight. ICE canola struggled with the January contract nearing settlement and Paris rapeseed rallied a couple of dollars. The weaker AUD should counter some of the move lower in ICE canola futures, when combined with the stronger close in rapeseed we may well...
Read More: Prices 30/12/16

Prices 29/12/16

The Aussie dollar tested support levels in last night’s session only to find a floor and bounce higher closing up around 0.30% against many of the major currencies including the Canadian dollar and Indian Rupee. The firmer USD also saw much of the previous session’s gains whittled away. The...
Read More: Prices 29/12/16

Prices 28/12/16

Chicago soybean futures lead grain higher resulting in good improvements in corn and wheat futures too. Weekend rainfall missed much of the Buenos Aires region of Argentina, this is soybean central for Argentina and dry conditions now may prune yields. I’m not sure if the dry spell is as...
Read More: Prices 28/12/16

Prices 22/12/16

I’ll try and stick to grain related news but with the assassination of the Russian ambassador in Turkey and the other “terrorist” attacks in Berlin and Beijing that news seems to be dominating even grain market wires this morning. Soybean futures found some consolidation trade after recent losses. A...
Read More: Prices 22/12/16

Prices 21/12/16

Generally grains were flat in overnight trade and oilseeds were lower. Chicago soybean futures found no love after recent good rains across much of the South American crop. Soybeans also came under pressure from a sharp decline in palm oil which slipped 12.5%. Poor Malaysian palm oil exports are...
Read More: Prices 21/12/16

Prices 20/12/16

The Aussie dollar continued lower in overnight trade with the fall likely to counter the potential downside in wheat after a lower close for all three US wheat futures contracts last night. The AUD slipped on the back of technical selling and the punters expecting to see Australia doing...
Read More: Prices 20/12/16

Prices 19/12/16

It’s all about currency this morning. Unable to continue to consolidate at yesterday’s opening value the AUD slipped to its lowest level since mid May when it spent a couple of weeks around this level. Canola was around $570 NTP Newcastle at that time. The weaker AUD should go...
Read More: Prices 19/12/16

Prices 16/12/16

Even with the US Fed announcing that US interest rates are likely to rise at a faster rate in 2017 we still only managed a slight drop in the value of the dollar against the greenback. After initially falling away strong jobs data our of Australian stemmed losses and...
Read More: Prices 16/12/16

Prices 15/12/16

India is busy importing wheat after reducing their 15% import tariff to zero. This comes on the back of an increase in production by Government officials for last season’s wheat crop, lifting it to 93.5 million tonnes versus an industry estimate closer to 86 million tonnes. It is also...
Read More: Prices 15/12/16

Prices 14/12/16

I usually start to write this market summary around 6.30 – 7.00am. In our summer the US markets close at 6.00am NSW time and it takes a little while for all the analyst to get their reports written and posted online. I try to get as much of the...
Read More: Prices 14/12/16