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...

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...