Nearby Chicago corn futures were again sharply lower in overnight trade. Wheat and soybeans failed to be influenced by corn and managed to close in the black. HRW futures were not as convincing closing fractionally either side of unchanged. Movement in the MGEX spring wheat futures almost mirrored HRW...

Big moves lower in Chicago corn, wheat and soybeans overnight. It’s pretty hard to ignore these kind of moves lower. Yes I know the trade tend to exhibit an ability to ignore moves like this when they go higher but as a rule sharp moves lower like last night,...

The USDA World Ag Supply & Demand report dominated last night’s markets. A brief look at the report reveals the following points of interest. Wheat: The USDA’s first stab at the 2021-22 crop is out. Global production is estimated at 788.98mt, that’s 12.88mt bigger than last year. A reduction...

Corn and soybeans futures at Chicago dragged wheat higher in overnight trade. The punters are backing a significant decrease in both ending stocks or corn and beans thus the dip in futures on Monday was viewed as a buying opportunity. The expected return to more seasonal rainfall across the...

Corn and wheat futures at Chicago have been overbought for some time now but last night’s “correction” ahead of the USDA report may go some way to seeing a decline in the massive speculative longs built up over the last couple of weeks ………. may. The trade didn’t need...

Chicago futures closed the night higher again. Week on week gains are pretty impressive, capped somewhat by the sharp drop on Monday but healthy all the same. June SRWW gained AUD$12.65 on last Friday’s close and Dec21 is up AUD$15.23 for the same period. Compare this to local increases...

Chicago corn, wheat and soybeans continued higher overnight. Soybeans the clear winner in this session. The knock on effect obvious with ICE canola with the May and August contracts both moving C$30 higher. Paris rapeseed futures were also firmer putting on €18.25 on the nearby and €15.75 for the...

US wheat futures were again higher in overnight trade. The punters seem to be happy to trade the stochastic between 60-90 at the moment, seeing a dip below 60 as a buying opportunity. Do I think this is overcooked, indeed, do I think it will go higher, who knows,...

US grain futures were back to double digit gains overnight, wheat, corn, soybeans and canola futures were all higher. Reductions to the late corn crop in Brazil appear to be the key to the rally in US corn futures (plus a bit of Chinese demand). Private forecast for the...

As Chicago futures are fundamentally supposed to converge with cash values as they near expiry we have seen some decline in values overnight. Futures may well be a little over cooked when compared to cash prices and the May contract should begin to reflect that over the next week...