Prices 23/1/17

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Soybeans were surprisingly lower, well kind of surprisingly, you forget how US centric the US grain futures markets are sometimes and how little confirmation of events like the flooding in Argentina can have on the US markets if something US centric is occurring. For instance yesterday three forecasting entities...
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Prices 20/1/17

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The Aussie dollar hit 75.74 in overnight trade as the greenback continues to weaken ahead of Trumps inauguration this evening. Apart from the dollar everything else seemed to be weaker in overnight trade. The punters became a little risk adverse leading into this evening and were not willing to...
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Prices 19/1/17

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The AUD gained around 0.16% in overnight trade to close at 75.18 this morning. It’s not a big increase against the US dollar but there has been some significant movement against the Canadian dollar where the AUD is up around 1.15% this morning. The move in currency is likely...
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Prices 18/1/17

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US soybean futures were the big winner last night and as we know for every big winner we need a big loser and in this case it was the South American farmer. Heavy rain continues to fall across the major soybean producing region of Argentina and Brazil. Harvest in...
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Prices 17/1/17

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There was a holiday in the US last night so nothing out of the States to stir the pot this morning. Egypt picked up 235kt of Black Sea wheat last week. This takes financial year purchases by Egypt to 3.41mt, roughly half a million tonnes more than this time...
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Prices 16/1/17

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US hard red wheat and spring wheat futures saw good gains in the outer months as carry over buying from yesterdays bullish USDA report kept markets alive. Nearby closes were not as strong as the outer months which is to be expected considering the huge stocks to use ratio...
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Prices 12/1/17

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There’s a good chance the Aussie dollar will spoil the show today. Strength in base metals and oil prices helped the AUD higher against the greenback. Technical strength in the AUD fuelled speculative buying and thoughts that the AUD will find resistance closer to 75.3 in the coming days....
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Prices 11/1/17

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The Aussie dollar is stronger against all our major trading partners except the Yen this morning. With only miner moves in US grain futures overnight the stronger Aussie dollar may put pressure on export grain values today. With nearby wheat basis as low as it is though we may...
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Prices 10/1/17

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The US speculators seem obsessed with the idea funds will pick up the underperformers of 2016 in their rebalancing program which generally occurs in mid January every year. This helped wheat sustain some upside which initially resulted from some spill over fundamental buying in the soybean pit. After two...
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Prices 9/1/17

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Weakness in US soybean futures rippled through the oilseed markets and kept other grains flat to lower in overnight trade. Corn futures in the US found some support from fund managers rebalancing their annual positions. This did have a few players picking up put options against the September slot...
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