US futures markets drifted lower again in overnight trade. Basically carry over trade from the previous session with the bearish news in the row crops dragging wheat lower. Crop condition ratings in France remain very good with 92% of the wheat crop there rated as good to excellent. Although...

The USDA report was generally construed as bearish corn and soybeans and neutral to slightly bearish for wheat. Larger corn and soybean crops in S.America dominated the data and saw increases to world carry over in both products. For world wheat we see beginning stocks reduced 480kt, smoke and...

Basically a technical night’s trade in the US as the punters get ready for the USDA WASDE report due out tonight. Market expectations are for bigger soybeans crops in South America. Most analysts are tipping Brazilian soybean production somewhere between 109 & 110mt, anything less that 106mt by the...

The Aussie dollar topped out at 76.33USC before slipping back under 76 and then settling into a range which finally saw it close out slightly above where it started at 75.88. The RBA left rates on hold but their spiel was considered more upbeat than expected. I don’t think...

Wheat futures in the US were generally stronger in overnight trade, although there was some weakness in the spring wheat contract as old crop spreads begin to weaken and converge with new crop spreads. For example the spread from SRW futures to HWR and then to DNS futures is...

US grain futures seemed happy to consolidate around current values overnight. The AUD made a slight recovery against most of our major trade partners so it generally countered any moves higher by some US grain futures. Canola at the ICE done well to place small gains, probably more to...

Corn, wheat and soybean futures all closed lower in overnight trade. A night of mainly technical trade saw corn say within support levels as it failed to breach the 20 day moving average. It appears those who needed to clear CBOT March futures contracts have done so. Weekly US...

More technical, non fundamental trade pushed US grain futures higher overnight. Trump rallied the nation in his speech that suggested higher interest rates are not far away and talk of heavy investments in local projects like roads and infrastructure will add jobs to the economy. There was also talk...

US grain futures closed the session higher, a little off the highs of the day but firmer all round is a good start. The suggested changes to the Renewable Fuel Standards in the US may see ethanol blends go from a minimum of 10% to 15% and there is...

With the expiry of the March contracts just around the corner we are seeing funds roll and liquidate positions as usual. This is not boding well for wheat at present resulting in some sharp losses in overnight futures. As you know a fund manager is unlikely to own a...