Chicago wheat opened higher and closer not far off the session high. The stochastic still indicates that March SRW futures are overbought at Chicago don’t be surprised if we see the trade sell this rally. A technical reason for support could potentially be the Goldman Sachs roll during January....

NCDEX chickpea futures now indicate that March is trading at roughly a AUD$7.00 / tonne discount to April. This would indicate that nearby supply is no longer an issue and that it may become a bit of a struggle to move old crop chickpeas to market in India. It...

US wheat futures were flat to higher with soft red wheat at Chicago leading the way, up only 4c/bu it’s nothing to write home about but it does mean a week on week rise of about AUD$3.23 / tonne slightly better than the $1.00 rise we have seen locally....

US futures were uneventful with wheat and corn sideways and soybeans a little lower. ICE canola shrugged off the downside pressure from both the soybean pit at Chicago and the Paris rapeseed contract to close a little higher. There is talk of technical support in Chicago corn as  the...

Looking for bullish news at the moment is a bit like probing for moisture back in winter, it’s there but you really need to pull up at the right spot to find it. US wheat futures were flat to firmer, corn was even flatter to softer and soybeans were...

Overnight strength in the AUD isn’t expected to help local prices much today. Although we see US wheat futures moving a little higher generally the move is expected to be countered by the stronger AUD. Local jobs data was the catalyst for the move higher in the AUD yesterday...

More of the same in the USA, corn lower, wheat lower and soybeans also lower. Grain futures closed lower in spite of a weak US dollar. The dollar simply could not counter the bearish pressure from a slow export program and huge ending stocks around the world. To date...

US grain futures were flat to lower in yet another uneventful session. There is simply nothing but stale news and speculation feeding this market at present, why is that different to normal I hear you ask, well the news is particularly uneventful and the speculation is generally focused around...

US futures were flat for corn and softer for wheat and soybeans. Focus is on the developing La Nina which is expected to be weak and short lived. The dryer expectations for S.America is expected to result in greatly reduced corn and soybean production from that region in 2018....

NCDEX chickpea futures were lower again overnight. There is convergence between the January and April contracts as the spread is now down to around AUD$76 / tonne. Converting April futures values to a price at Narrabri packers gives you a number of $680, currently the bid up at Narrabri...