It’s all about currency this morning. Unable to continue to consolidate at yesterday’s opening value the AUD slipped to its lowest level since mid May when it spent a couple of weeks around this level. Canola was around $570 NTP Newcastle at that time. The weaker AUD should go...

Even with the US Fed announcing that US interest rates are likely to rise at a faster rate in 2017 we still only managed a slight drop in the value of the dollar against the greenback. After initially falling away strong jobs data our of Australian stemmed losses and...

India is busy importing wheat after reducing their 15% import tariff to zero. This comes on the back of an increase in production by Government officials for last season’s wheat crop, lifting it to 93.5 million tonnes versus an industry estimate closer to 86 million tonnes. It is also...

I usually start to write this market summary around 6.30 – 7.00am. In our summer the US markets close at 6.00am NSW time and it takes a little while for all the analyst to get their reports written and posted online. I try to get as much of the...

Over the next couple of days the December contracts close out at Chicago. Volume in December contracts is already minimal with most activity now concentrated on the March 17 slot. Corn and wheat futures at Chicago were mostly flat while soybeans saw some downside which spilled over into Canadian...

The USDA report was out overnight, the big mover was Aussie wheat production up from 28.3mt to 33mt, this was by and large factored into the equation after the ABARE report hit the market earlier this month. World ending stocks were higher and are now estimated at 252.1 up...

Some squaring up in the Chicago wheat pit saw SRW and HRW futures rally a little in overnight trade. Punters have long held a significant short and USDA reports are renowned for creating market moves, sometimes against the trend at the time. Fundamentally wheat hasn’t seen a lot of...

In the US soybeans managed to close in the black while corn futures and all three wheat contracts slipped. Feed grain and wheat continue to find resistance due to huge world stocks and production increases in Australia. The premium available for high quality white wheat is expected to remain...

US soybeans closed well of the session high but still settled on positive ground in overnight trade. Wheat was mixed with the higher protein HRW and MGEX spring wheat contracts slipping a little while SRW futures managed to close a smidge higher. This was against the trend that many...

A good rally in US soybean futures kept corn and wheat in the black in overnight trade. On a risk off kind of US market the main money flowed back into things like oil and out of gold and bonds. Speculation rolled into ag products as well with most...