Chicago soybeans were firmer overnight. The Jan22 slot rallying 31c/bu (AUD$15.22/t). Unfortunately the rally was not reflected in either the Paris rapeseed contract or ICE Canadian canola. Both Paris and Winnipeg saw some downside. The fall appears to be technical, profit taking. From a fundamental perspective prices have probably...

At Chicago soft and hard winter wheat gave back a little of yesterday’s gain while the spring wheat contract at Minneapolis continued to push higher. The nearby slot at MGEX was up just 7c/bu while cash settled at MGEX was up more than 40c/bu and closing above the US$10/bu...

A quick glance at last night’s USDA WASDE report. US corn opening stocks lowered, resulting in the lowest stocks to use ratio for US corn since 1995-96. Surprisingly the USDA increased production by showing a larger sown area and keeping harvested yields unchanged at 179.5bu/ac (11.26t/ha) average. Big call,...

US futures were mixed, corn and soft red winter wheat were lower while soybeans and hard wheats were higher. ICE canola futures were limit up across new crop months again with Paris rapeseed futures following the lead at Winnipeg. Technically we see corn futures going into Monday’s USDA World...

There’s been nothing more than some very isolated storms across central Saskatchewan over the last week and even those storms are dropping a lot less moisture than they were predicted to. Yesterday storms around Saskatoon were expected to produced localised falls of 50 -100mm but a quick look at...

In the USA the prospect of lower corn area was countered by a good weather map. The trade will probably look to square up somewhat ahead of Monday USDA WASDE report. The numbers released of late tell me that US corn production is likely to come in somewhere around...

Global futures markets were a sea of red last night, even NCDEX chickpea futures in India slipped AUD$38 / tonne. Wall St didn’t offer a safe haven with the Dow slipping 260 points. The catalyst was the kinder weather forecast for the USA. A round of profit taking then...

The wheat harvest in Russia is underway with fields being harvested across Krasnodar region and also parts of the Volga Valley. Early yield reports are impressive with records being taken in some fields. Early days. Also some rain in the Russian spring wheat regions. The impressive start to the...

With western Saskatchewan swelting in extreme heat, over 39C in some locations. The spring wheat and canola markets remained positive overnight. Spring wheat less convincingly, it’s probably feeling pretty top heavy about now considering we are basically moving into the middle of the HRW harvest in Kansas and yields...

A night of profit taking as the funds moved money out of grains and back into Wall St. Wheat was hit the hardest as it was generally a follower of the row crops on Wednesday. Hard and soft wheat futures at Chicago closed lower than spring wheat futures at...