The funds basically open the office door yesterday and said OK, it’s Thursday, let’s take the money and run regardless of the fundamentals. Technically this was foreseeable in wheat futures at Chicago but after the previous day closing higher it wasn’t a given. Wheat, as it had been the...

Wheat was back in favour at Chicago last night with the nearby contract pushing higher by AUD$11.40. The slightly higher AUD may take a bit of the cream away but the move but it still reflects a jump of around $8.48 when taking currency into account. The move is...

US grain futures were generally either side of unchanged in overnight trade. The weaker US dollar would have in theory though increased domestic values in the USA you might think but generally basis was weaker across the board. Corn saw considerable weakness in basis as demand continues to fall...

At Chicago soybeans and  wheat were the golden child while corn got pushed back under the stairs with a can of cold beans for dinner. The panic buying is rolling through to wheat demand according to the punters. Stock piling of essentials like bread, pasta, flour and other wheat...

US wheat futures at Chicago followed soybean futures higher. Soybeans were the standout in last night’s session climbing 19.25c/bu (AUD$12.20/t) on the nearby contract and 12.25c/bu in the new crop.  Wheat was a little more sedate climbing about AUD$2.69 / tonne but is being out done by the increase...

The bottom pickers were out in force last night. Grains in US futures rallied nicely but the stand out must have been crude oil which put on 24% placing it back above US$25.00 / barrel…lol. Useless info time, a barrel of oil will make about 68 litres of petrol....

57.93 US cents per dollar, that’s what the screen said when I opened it this morning. The session low came in at 57.25. The Aussie dollar crashed against all the majors bar the Sterling. It accounts for a AUD$8.69 worth of movement in canola and about AUD$9.66 worth of...

The bottom pickers trolled the US wheat pit last night resulting in some much needed upside by the close in HRW. Technically SRWW at Chicago is oversold and has been for most of March. It’s just been one thing after another pushing punters to short wheat but fundamentally wheat...

US grain futures, except spring wheat, were sharply lower overnight. Soybeans lead the row crops lower shedding 27c/bu (AUD$16.20) on the nearby contract. New crop corn faired a little better, increasing soybeans supplies from S.America continue to hurt US prospects. The bulk of the weakness continues to be spill...

The AUD was slaughtered again overnight selling off late in the session and dipping as low as 61.29 before fumbling along in the dark and closing at 61.47. There have been official rate cuts in Europe, the US and Britain to help the economic situation. The EU are starting...