US soybean futures were the big winner last night and as we know for every big winner we need a big loser and in this case it was the South American farmer. Heavy rain continues to fall across the major soybean producing region of Argentina and Brazil. Harvest in...

There was a holiday in the US last night so nothing out of the States to stir the pot this morning. Egypt picked up 235kt of Black Sea wheat last week. This takes financial year purchases by Egypt to 3.41mt, roughly half a million tonnes more than this time...

US hard red wheat and spring wheat futures saw good gains in the outer months as carry over buying from yesterdays bullish USDA report kept markets alive. Nearby closes were not as strong as the outer months which is to be expected considering the huge stocks to use ratio...

There’s a good chance the Aussie dollar will spoil the show today. Strength in base metals and oil prices helped the AUD higher against the greenback. Technical strength in the AUD fuelled speculative buying and thoughts that the AUD will find resistance closer to 75.3 in the coming days....

The Aussie dollar is stronger against all our major trading partners except the Yen this morning. With only miner moves in US grain futures overnight the stronger Aussie dollar may put pressure on export grain values today. With nearby wheat basis as low as it is though we may...

The US speculators seem obsessed with the idea funds will pick up the underperformers of 2016 in their rebalancing program which generally occurs in mid January every year. This helped wheat sustain some upside which initially resulted from some spill over fundamental buying in the soybean pit. After two...

Weakness in US soybean futures rippled through the oilseed markets and kept other grains flat to lower in overnight trade. Corn futures in the US found some support from fund managers rebalancing their annual positions. This did have a few players picking up put options against the September slot...

With US soybeans weaker overnight we see the ICE and Paris contracts for canola struggling to hold onto the previous sessions gains. Wednesday’s higher session did result in a significant volume of trade squaring in the futures markets, particularly in Paris. Much of the influence is considered technical with...

Deteriorating winter wheat crop condition ratings in the USA saw all three US exchange traded wheat grades improve overnight. Dry weather and a lack of snow cover across parts of the HRW belt and into the central corn belt saw crop ratings fall by up to 28% in Oklahoma....

A slightly firmer AUD against most of our major trading partners combined with a weaker close across most US grain futures may stifle any attempt local values make to move higher today. US markets were generally weaker while European markets did tend to close higher. In the case of...