Winnipeg canola and Paris rapeseed futures rejected the recovery process going on in the Chicago wheat, corn and soybean pits. Instead plotting its own course lower. Winnipeg canola futures shed CAD$8.80/t in the January 2027 slot while Paris rapeseed fell €6.00/t in the February 2027 slot. WTI crude oil...

The US weekly crop progress report was out overnight. Not that anything in that report was likely to change the direction of the US futures market. A sea of red is on the screen this morning. Wheat, corn, soybeans, US grains all sharply lower. End of month positioning, probably....

US wheat futures pushed lower. There doesn’t appear to be enough punters happy to stand in front of a fund manager with a sell order and argue about fundamental support just yet. Will talk of higher interest rates in the US bring buyers back to grains, the traditional hedge...

US corn futures saw some nice gains, but more so soybeans. The punters are calling the predicted heatwave in the states the key driver there. One might get on board if it wasn’t for the fact a lot of the corn, and soybeans, are sitting in mud. In some...

The 2.25% decline in the AUD against the Indian Rupee is probably not the biggest thing to happen in the grains industry overnight, but it’s a thing worth looking at. The Delhi mandi price was relatively stable overnight. The average price by the close was roughly 5949Rs/Q, up just...

I don’t know how small a US wheat crop needs to be, or how dry it needs to be in France, or how many bombs Ukraine and Russia needs to exchange, to sustain a wheat rally, but if obviously has to be much worse than what we are seeing...

US futures markets were lower across the board, corn, wheat and soybeans at Chicago all shed value by the close. Across the Atlantic the EU exchanges were all green, London wheat higher, Paris milling wheat higher, Paris corn higher, all by good margins. Paris rapeseed was E7.50/t higher nearby...

The USA had a day off to celebrate the abolition of slavery. Turning our attention to alternative futures markets we see that the Paris milling wheat contract was down €2.00 in the September slot and –€1.50 in the Dec slot. London feed wheat futures were £0.85/t lower across the...

Chicago SRWW wheat July open interest is back roughly 1.9mt on yesterdays close, wheat off 7c/bu. Volume on the day was about 5.8mt. There’s still a bit of work to do by the funds before first notice day for teh July slot, but it does appear to be an...

Short covering of June contracts in the Chicago wheat pit saw some upside in US futures last night. One does ponder if there is no fundamental strength in the wheat market. The US wheat crop is the smallest in years. France has seen below average rainfall all year but...