The International Grains Council, IGC, joined the list of analyst calling for smaller ending stocks for corn. This revived the rally in Chicago corn futures and at one stage had the May contract trading at 540c/bu. This might not sound that impressive but US corn futures, for the nearby,...

US wheat futures were mixed, soft red winter wheat at Chicago was back a little while hard red winter wheat was a touch firmer, as was spring wheat at the Minneapolis Grain Exchange. Cash bids for US hard and spring wheat out of the Pacific North West were generally...

Today is going to be an interesting one. The rally in US grain futures last night was the biggest one session move nearby soft red winter wheat futures had since the 25th of July…….2018. It’s the best one session rally nearby corn futures at Chicago has had since June...

There’s a USDA world ag supply and demand report due out tonight, so don’t expect to see too many big moves from the punters out there today. Technically we see Chicago SRW and HRW futures still a little over bought but generally trending towards neutral, that’s a good place...

South American weather continues to be a major driving force in the oilseed market. Overnight at Chicago soybean futures were again higher closing the session at 1375.75c/bu (AUD$652.58), about midway through the sessions range. Chinese demand is paramount though. The strength in beans dragged both Paris rapeseed futures and...

The Aussie dollar cracked 76c as the US government continues to fumble the aid and stimulus package. The AUD also found some assistance higher from local jobs data. Unemployment was better than expected at 6.8% in November. Looking at how slow retail is in the lead up to Christmas...

In US grain futures overnight moves were minimal with corn closing in the black while wheat and soybeans were generally a smidge lower. Chicago soybean futures continue to flirt with 1200c/bu but each time it threatens to break through this level of resistance selling pressure forces it lower. Technically...

In the US we see Chicago soybean futures bouncing sharply higher overnight dragging both nearby rapeseed futures at Paris and ICE Canadian canola futures higher. With local canola basis at -$43.53/t yesterday there is a good chance we’ll see local values follow international values higher…….. am I the eternal...

With the December contract rolling off the board the USDA report appears to be long forgotten. US wheat futures were smashed overnight with SRW, HRW and spring wheat all taking a hit by the close. The Platts APW1 FOB Aussie wheat contract for the Feb slot was up US$0.50...

Wheat futures in the US continued higher. Fuelled by the USDA report and technical buying. Looking at the charts it’s a pretty steep line at present but still pushing through neutral on its way to overbought. Keep an eye on a slowing of purchases or a short term top...