Soybean futures at Chicago lead corn lower. Although there is good demand for soy oil the slower crush rate in Argentina may see the number of carry over beans start to build. In Argentina the better crop is lower protein so in order to extract the minimum protein oil...

Wheat futures in the USA continued to tumble last night. Looking at the bigger picture there is plenty of wheat in the world and the way the weather in the northern hemisphere is currently shaping up there’s not a lot of concern at present. The USA winter wheat crop...

In the USA it’s all about winter storm Wesley. Minnesota, South Dakota and Nebraska seem hardest hit at the moment. The potential for crop damage is minimal but further delays to spring field work is the issue now. Up to 30cm of snow has fallen and many terminals have...

Did someone say there was a WASDE out from the USDA last night……. yawn. As much as the USDA report is “renowned” for shaking up the market it didn’t exactly stir the punters from their slumber this time around. The trade had expected to see higher US ending stocks...

US grain futures markets were generally either side of unchanged in overnight trade. With local and international markets stalling we are starting to run out of drivers either up or down. Australian values on the east coast seem to be on a fast track to convergence with new crop...

The market wires are explaining the sharp drop in HRW futures on Friday night as a round of profit taking. The HRW contract is neither oversold nor overbought. It may be more accurate to call the sell off a case of boredom. With the HRW belt currently experiencing a...

US wheat futures were generally softer overnight. Bearish pressure came from both new and old crop expectations. Old crop carryover will continue to be too high while 2019 – 20 production will continue to ensure there is enough wheat to go around and the major exporters will need to...

There’s not a lot of direction to be taken from the US session unless you’re a soybean / oilseed trader. Soybean futures at Chicago shed 13.25c/bu (AUD$7.00/t) on the May and July contracts. Corn found a few cents per bushel downside while wheat futures were mixed but generally a...

It was good to see the USA feature in the suppliers list for the Egyptian tender, what wasn’t good was the price. Most of the punters were expecting to see values around US$5.00 higher than Egypt’s previous purchase due to the change in payment terms from prompt to 180...

The US markets continue to be focused on the delays and damage flooding along the Mississippi is causing. The 300kt of corn China picked up the other day was said to have been flood coverage. As the river becomes less compliant delays will occur and the additional cost of...