Wheat found some support overnight while soybeans pushed lower, canola managed to break away from the influence of the Chicago bean market to close C$6.30 / tonne higher. There is still around 20% of the Saskatchewan spring wheat and canola crop left out in the field. Wheat found support...

The big mover last night was Chicago soybeans which fell away 18c/bu, close to AUD$9.00 / tonne. Basically it was driven by two things, funds taking profit and better harvest conditions in the US. The weather map shows the next seven day’s generally dry before returning to wet weather...

Wheat futures in the USA took back much of Friday night’s decline as funds stood up to take end of month profits from extended short positions. Harvest pressure kept corn and soybeans futures in check but the US does continue to sell good volume of beans to  China. Some...

More bad news for international sorghum values as China decides to subsidise domestic corn consumption to help clear massive stockpiles. The subsides are expected to assist ethanol producers ramp up production. In the northern provinces the subsidy could equate to as much as 200 Yuan / tonne, which is...

The punters are still driving the currency markets. This time around we see them factoring no rate adjustments on cup day but they do appear to be leaning towards local rate cuts in the first quarter of next year. With inflation once again well below projected levels and the...

Egypt surprised the wheat market last night as they play catch up after their ergot fiasco earlier in the year. Offers against Egyptian tenders evaporated earlier this year after officials placed a 0% tolerance on ergot. The world standard is 0.05%. This saw Egypt fail to fill a number...

The AUD finished the night stronger against all the major currencies including the Asian markets. The combination of a stronger AUD and a slight drop in ICE canola futures may see local oilseed values tested a little today with the potential downside of roughly $2.50 / tonne on the...

Good quality durum wheat prices are sharply higher in central Saskatchewan. Up country values rose from $C750c/bu to roughly $C830c/bu in the last week. This is roughly C$305 / tonne delivered upcountry elevator. Australia has a both a quality and logistical advantage over central Canada so we could be...

The AUD was weaker against most of the major currencies overnight bar the Euro. This should help counter any pressure on local prices due to a lower close on all three US wheat grades last night. Outside market pressure had more to do with grain prices last night than...

US markets were lower with corn, wheat and soybeans all closing in the red. MGEX wheat was about the only grain that bucked the trend but a nearby gain of half a cent per bushel is nothing to have a drink on. ICE canola closed slightly lower on the...