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...

Chicago corn futures smashed through the 700c mark last night closing at 740c/bu (AUD$378). That’s a 200.75c/bu (AUD$102) increase since this time last month. Our local sorghum value, a product traditionally hedged using US corn futures, as Chicago corn is supposed to be the litmus paper for world feed...

If you ever needed to have a look at a futures contract that explained the term “short and caught” look no further than the nearby May 21 contract for Paris Rapeseed. Overnight May21 rapeseed futures closed €84.00 / tonne higher, to €681.25 / tonne. The August 21 slot, the...

The Covid numbers out of India sound astounding but less so as percentages when looking at the data as a reflection of the 1.336 billion people living in India. So currently there has been a reported 18 million cases, 1.35% of the population. Of that 18m there has been...

US corn, wheat and soybean futures were all sharply higher again overnight. Probably a bit higher than where I would have picked them to be too, you take what you can these days, no one knocks back 8 years highs in wheat. Corn was limit up again, the prospect...

Profit taking was an early feature of the corn and soybean pits at Chicago but this gave way to a late session rally that saw the nearby contract close in the black. The US weather map for this week isn’t great for the driest locations. The durum belt of...

Chicago corn, wheat and soybeans all marched higher in overnight trade. MGEX March 22 spring wheat futures closing above 700c/bu (AUD$331.78/t). This is the first time spring wheat futures have been up over 700c for some time. Back in 2017 the spot market ran into the 700’s in late...

Corn and soybeans lead the Chicago grain futures market higher leaving wheat behind to close flat. The markets were focusing on a cold snap due through the corn belt later this week. Over the last few days temperatures in the corn belt have been a little cool but not...

Corn futures at Chicago briefly broke through US$6.00 per bushel (AUD$304.70/t) overnight before retreating to close at 590c. We haven’t seen numbers that high since July 2013. In 2012 the US had some serious issues with corn production and the July 2013 contract was the last old crop corn...

Chicago corn, soybeans and wheat futures were all higher in overnight trade. The weaker US dollar had a bit to do with it, contributing roughly AUD$3.00 to a AUD$9.00 rally in nearby SRW wheat. The rally was fuelled by dry conditions in the US spring wheat belt and cooler...