Technical trade saw most grain futures markets close in the green last night. Even US soybeans closed higher, dragging both Paris rapeseed and Winnipeg canola higher by the close. Harvest of soybeans has commenced in Brazil, there’s not a lot off as yet, and the fields that are now...

US wheat futures were sharply lower in overnight trade. Generally cash wheat values from major exporting nations did not follow the Chicago SRWW futures contract lower dollar for dollar. HRW out of the US PNW was valued at US$248.38 roughly AUD$6.74 lower as opposed to the move in SRWW...

The biggest losers overnight were the oilseeds. Funds continue to clear a long position held in Chicago soybean futures as good rain falls, and is predicted to continue to fall, across much of the major production area’s for soybeans (and corn) in Brazil and Argentina. The pressure from this...

A softer close in Chicago soybean futures weighed on both the Winnipeg canola contract and Paris rapeseed futures. The weaker dollar helped, turning the Winnipeg move from a potential -AUD$11.62 to -AUD$8.52. At Paris the move equates to a day to day change of about -AUD$2.80 thanks to a...

Funds continue to sell wheat while buying corn, and yes, also buying soybeans at Chicago ??. Overnight Chicago soybean futures for the March 24 slot closed a smidge higher, up 3.5c/bu by the close. This caught a few oilseed bears by surprise. The Winnipeg canola futures contract was having...

Chicago soft red winter wheat futures were hit pretty hard last night, although it’s getting more common to see 20c/bu moves at Chicago these days. Wheat, and to a lesser degree corn, futures were likely caught up in the heavy selling in Chicago soybeans as funds cleared their long...

Both Winnipeg canola futures and Paris rapeseed futures were lower in overnight trade. The move at Paris roughly equating to an AUD move of +AUD$0.34/tonne. The firmer AUD making short work of the increase at MATIF. Paris milling wheat futures were flat and London feed wheat futures were a...

US wheat futures pushed lower again, finding little assistance from the weaker US dollar. Canola futures at Winnipeg and rapeseed futures at Paris both managed the close in the green. The later up E3.00 on the nearby. The Paris move equates to an equivalent AUD move, when taking the...

Argentina appears to have gone from one extreme to the next, which is so often the case in agriculture. Let’s just forget about their local politics for a moment, as hard as that is to do, and have a look at their weather over the last week or two....

I was reading about Saudi Arabia buying 1.353mt of wheat just prior to retiring last night. I said to myself, ” self, that’s got to be bullish wheat, it’s double what they said they were going to buy”. So yeah, Chicago wheat futures fell again last night, Paris milling...