The one thing that always amazes me about US futures markets is their focus on the future. The ability of the US futures market to brush off a current issue to focus on a synthetic or possible issue is something to behold. This week’s heatwave for instance, it’s just...

The weaker soybean futures at Chicago put pressure on wheat values thus we see lower settlement values for soybeans, SRW, HRW and DNS wheat. Only corn futures closed higher but only by the thinnest of margins. Corn is finding some support from the high temperatures creeping north across the...

The prospect of good follow up rainfall across N.Dakota and Minnesota and across the top of the central corn belt was viewed as beneficial to spring wheat and soybeans. Wheat futures generally managed to avoid the technical selling this triggered in corn and soybean futures at Chicago. Corn values...

Analysis of the ASF outbreak in China continues to indicate that soymeal demand will fall as the disease takes its toll on the pig industry there. Official data out of the Chinese government shows a month on month reduction of 5.1% in the total pig heard.  A yearly comparison...

In the US the prospect of a hot dry week across the western corn belt came as a two edged sword. For those that have been flooded by recent storms it will allow them the chance to clean up and access what is sown and what will be worth...

Well the big news is the wheat numbers are in the WASDE report, let’s have a quick look. Global wheat production was cut by 9.37mt to 771.46mt, not a small crop by any means but a cut larger than any trade estimate. The S&D sheet also shows cuts to...

US soybeans registered a pulse last night while wheat and corn futures were basically put on life support leading into tonight WASDE report. The punters have laid their bets and they look a little like US wheat production up, US corn down, US soybeans down sharply. The punters are...

A quick look at the tech side of US futures and we see corn is pretty close to neutral, not too far oversold and not over bought. This would be about where most punters would be happy walking into Thursday night’s USDA WASDE report. Wheat on the other hand...

In the US warmer dry weather across much of the central corn belt is helping corn catch up a little. In last night’s USDA report that came out after the markets had closed corn was pegged at 98% sown. We are still trying to determine what the 100% area...

Nearby canola futures at the ICE were smashed in overnight trade shedding C$10.90 on the July contract as it expires. The November slot was also lower by C$5.90 closing at C$442.80. The weaker AUD will go some way to countering the decline this morning but expect to see pressure...