The AUD is up over 69c this morning. We have the RBA meeting on the 2nd and 3rd of February, next week, will rates go up after the RBA polishes their crystal ball. Some punters seem to think we are on the way to 70c in the short term....

When it comes to wheat there’s not a lot of green on the screen this morning. US futures were lower, the higher grades taking the bigger hit, but nothing has really fallen out of bed. The move lower in US milling wheat futures was reflected in cash values out...

International wheat values are back to the grind. US wheat futures recovered a little, nothing very convincing, but at least they didn’t closer lower like Paris milling wheat futures did. The nearby Paris contract was back E1.50/t, May shed E1.25/t. Looking over the major exporter conversion values compared to...

International wheat markets were generally lower overnight, both cash and futures. There was a 0.51% slip in the AUD against the USD which has helped turn a lot of the weaker closes into flat or even slightly firmer comparisons to yesterdays numbers. Hard red winter wheat out of the...

The USDA World Ag Supply and Demand Estimates (WASDE) report was out overnight. Corn appears to be the biggest loser this morning. Both US yields and area were increased. The punters have forgotten about the rapid pace of US exports and jumped onto the “sell” wagon at Chicago, smashing...

Chicago futures saw minimal movement in wheat, corn or soybean futures. Positioning ahead of the WASDE report due out on Monday was probably the dominant factor in overnight trade. Fundamental influence is minimal in the northern hemisphere. It’s the middle of winter, most locations have good snow cover. Central...

Indian weather is favorable for the sown chickpea crop. NDVI maps of India, Pakistan and Bangladesh all show acceptable growth for this time of year. Leaving much of the trade predicting good yields come March / April. According to official reports India has sown roughly 8.59 million ha, a...

The EU have implemented their carbon tax on imports as of January 1st. I’m not sure if this will in time replace the ISCC scheme we are currently participating in with canola or if it is an additional EU tax, my guess is the later. The MACF tax, or...

News that China was to purchase a further 336kt of US soybeans, some reports say 600kt, had little impact on a market set on profit taking. Early session gains in the bean pit gave away to selling late in the day, seeing Chicago soybeans close 5.25c/bu lower nearby. The...

Canola and rapeseed appear to be the standout winners overnight. Both Winnipeg and Paris futures have posted gains in the conversions to AUD/t from Fridays sessions. Paris, the big winner, gaining roughly AUD$15.47/t on Fridays conversion. All while the AUD pushed over 67c. The rally in rapeseed and canola...