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...

It’s all about the Aussie dollar today, it marched through 77c last night and is currently pushing through at 77.22USC. This will counter any moves higher on Chicago wheat and will take back more than half of what was shaping up to be a good move higher in canola...

The ICE canola contract shrugged off the pressure from lower palm oil and US soybean futures to close a smidge higher. Unfortunately the move is unlikely to be reflected in local values though as local currency makes a move higher. The AUD is powering on again this morning, opening...

The oilseeds ruled the roost last night. Soybeans at Chicago were firmer, ICE canola closed up C$8.60 and Paris rapeseed also put on €3.00 / tonne on the nearby contract. Lower palm oil stocks, good Chinese / US soybean demand and larger than expected US crush data aided prices...

US corn, wheat and soybeans futures all closed the week higher, corn at a three month high and wheat at a two month high. Our local wheat prices closed higher, at about the same level they were back in mid August. The big news was the Chinese deal to...