“Technical Tuesday”, “turn around Tuesday”, call it what you will, it was good to see US grain futures generally flat to firmer in overnight trade. Soybeans were the clear winner putting on 10.25c/bu on the nearby.  ICE canola futures were not following the lead though and shed another C$2.00....

Chicago soybean futures weighed on the session as prices fell back off two year highs. With a 31.75c per bushel (AUD$16.20) loss on the nearby contract it will put pressure on canola values at the ICE and Paris. The Paris contract backed off E5.75 per tonne on the nearby...

The USDA dropped their latest WASDE report last night. Corn and soybeans were the two big winners. Soybeans saw a sharp decline in beginning stocks and production in the USA. These two reductions combined with an increase in export sales to result in a sharply lower ending stocks number....

Cash bids in SW Saskatchewan followed the futures markets lower. 1CWRS13.5 spring wheat slipped C$4.48 per tonne on average to be bid at C$234.73 per tonne. On the back of an envelope this would roughly equate to a Newcastle port price of something close to AUD$320 if the destination...

Technically speaking December SRW at Chicago is getting up there and is now overbought. Without some good fundamental backing at this level one would expect to see profit taking kick in fairly soon. With the value also above 600c/bu it may trigger a lot of grower selling in the...

There are a few punters left scratching their heads after last night’s rally in US grain futures. The underlying fundamentals are there, just, the market continues to grasp firmly to these fundamentals thus triggering technical trade as the session moves higher. For wheat the dryness in the USA, Argentina...

US wheat futures found support from global weather conditions and technical trade. It’s winter wheat sowing time in the northern hemisphere and conditions are not perfect. Parts of Europe, Russia, Ukraine and the USA all remain in less than ideal shape according to the punters. A quick look around...

In the US wheat futures succumb to profit taking after some healthy gains in the prior session, even though export sales were better than expected. Corn and soybean futures at Chicago finished in the black after posting some good weekly export numbers and saw continued buying interest on the...

It was all about US wheat, corn and soybeans stocks last night. The USDA released their quarterly stocks report and it took the market by surprise. In the corn pit at Chicago futures rallied 4%. Domestic US basis stayed flat, prices on the board and at the elevator finished...

In the US corn, wheat and soybean futures all closed lower overnight. Interesting to note that the Platts APW FOB wheat contract at Chicago closed in the black with the Feb 21 slot us US$0.75 /t at US$251.75. This would roughly equate to about AUD$278 ex farm LPP for...