Soybean futures at Chicago basically made everything else irrelevant last night. It was the biggest one day gain in the bean pit since October 2010, up 5.64%, 57.25c/bu, AUD$28.50 / tonne, any way you write it looks impressive. So what spurred beans to life in last night’s USDA report....

With a USDA WASDE report due out tonight we saw funds try and square up a little of their huge net long bet in Chicago soybean futures. Volume was up in the bean pit with roughly 333,194 (1.2mt) contract changing hands in the session. Outside markets, the stronger US...

The Aussie dollar is lower by 1.2% this morning, currently going through at just under 74c. Last night the AUD hit two month lows against most of the majors including the yen and the euro, not bad news for exporters at all. This all came about as a result...

A spat of technical selling in Chicago soybean futures created weakness in both wheat and corn. Wheat futures had their own fundamental news to contend with. Crop tour reports coming out of Kansas are showing many fields in much better condition than expected with lots of paddocks now pegged...

The European soft wheat crop just keeps getting bigger, it’s not quite as big as last year’s crop of 151.3 million tonnes but at 148.2 million tonnes it is not that far behind it. Ending stocks are expected to increase by 600kt to 189.1mt….too high. Saudi Arabia picked up...

The Aussie dollar was smashed in overnight trade after the RBA cut official rates 25 points to 1.75%. About half the punters were predicting the 25 point cut so that left half holding a position they didn’t really want to be holding. The fall in the value of the...

The rain across the US has had little impact on the sowing rate of corn and beans. Corn is still ahead of the five year average at 45% sown versus the average of 30% and soybeans are at 8% versus the five year average of 6%, so still early...

The weaker US dollar helped Chicago grain futures close a little higher across the board on Friday night. The row crops also found support from wet weather. Reports of up to 8″ of rain falling across the lower Mississippi over the last 12 hours may see planting delays drag...

After last night’s rally Chicago corn futures have regained all the losses from the USDA report that sent prices tumbling two weeks ago. Corn also found support from sharply higher soybean prices. Beans were generally higher from good import demand from China and thoughts that the rain in Argentina...

An early spring in the US has planters in the fields. Texas has sown around 20% of its expected area already. In the oilseed markets US soybeans closed lower after the Brazilian currency slipped after recent gains. Big weekly crush numbers did not prevent a weaker close. There isn’t...