Malaysian palm oil futures closed at the highest level since March 2014 last night. This combined with lower production estimates for Argentine soybeans, a poor finish to the harvest program in Canada and a weaker USD saw Chicago soybean futures close higher by over 12c/bu ($5.75) last night. The...

The Aussie dollar is back up over 77c this morning. It’s sharply stronger against the Euro and the Sterling, if you were thinking about doing the Canadian Rockies tour it might be a good time to lock your currency in there too Eddie. Stronger metals markets fuelled by speculation...

US markets were thinly traded but managed to creep higher on Friday night. The bulk of the trade seem obsessed with sport and next weeks election at present so I expect to see as much sense out of Chicago as I do out of the media on the election...

Export sales data out of the US ended up determining the market direction last night. Corn and soybeans saw exports at better than expected levels while poor old US wheat was snubbed again. Surprisingly spring wheat futures saw the biggest losses. Spring wheat, the wheat most similar to our...

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...