A few weeks ago the punters were talking the AUD down to 68c, this morning all the head lines are “buy the AUD” or “AUD to outperform Euro” or other such speculation. I’m still not convinced these guys simply do nothing more than talk their book. Goldman Sachs are...

US futures are generally sideways, the prospect of more rain and snow over the next couple of weeks will ensure what has been sown is in ideal condition now. The thing that will have the biggest impact on US futures going forward will be export activity, or lack of....

The US wheat futures market started the morning heading the right direction but the lack of new bullish news chipped away at wheat throughout the session resulting in slight losses by the close. Around the world most futures markets were lower, the US, Australia, even nearby wheat at Paris...

US grain futures started softer and finished softer. Soft red wheat slipped 12c/bu on the nearby while HRW was back 7c/bu. Apparently the rally on Monday was basically technical short covering that got a little carried away. The punters used the planting delays in Kansas as a fundamental back...

Strength in US wheat futures comes as heavy snow across Kansas basically puts an end to the 2018 winter wheat sowing program. Some punters expect to see significant reductions in Kansas area due to the delay. It will be interesting to see what the crop progress report pegs Kansas...

US wheat futures drifted lower on the back of the recent USDA report. It appears Chicago SRW is destined to drift aimlessly either side of 500c/bu for a while longer yet. We’ve see futures trade US$10 either side of US$183/t for Dec 18 SRW since Ag-Quip. This spread has...

If in doubt tweak China’s numbers, no one has the ability to prove you right or wrong. That seems to be the lesson out of the WASDE report last night. The USDA increased Chinese wheat production from 128mt to 132.5mt. They also increased beginning stocks from 126.82mt to 131.26mt,...

The US futures market saw a little technical trade ahead of the USDA report due out tonight. The previous gains this week had left Dec wheat a little over bought but last night’s sell down should go a long way to seeing SRW and HRW futures heading into the...

Global markets are in a bit of a holding pattern as they wait for this week’ WASDE report to hit the email.  In the meantime the US markets traded around the crop progress report which indicated US winter heat that is being sown now slipped in both sowing progress...

Canadian canola values continue to slip as their market adjusts to the lower quality of this year’s crop. I get a bit cynical when I see base rates drop away in years of poor oil. I always thought that is what the P&D system accommodated. A base price for...