Canola and rapeseed futures were smashed in overnight trade. I didn’t really see that coming, not to the volume it was hit at Winnipeg anyway. The recent rally was always open to a correction given that the majority of the strength came from outside markets, like soybeans and crude...

There were some nice gains in US wheat futures last night. Seeing the March SRWW contract roll off the board and closing +26.25c/bu higher does tend to make me think “short and caught”, but volume was just 1 lonely contract. Volume in the May slot was healthier, 79,617 contracts...

If you take oilseeds out of the picture the US grain futures market was pretty flat last night. Soybeans at Chicago closed 13.25c/bu higher in the May slot. This had the usual knock on affect to Winnipeg canola and Paris rapeseed futures, both closed higher. WTI crude rallied hard,...

The AUD is a bit of an issue again this morning, but generally speaking most global grain and oilseeds value were higher, so it is not having the impact on the conversion comparison it could of have if we had flat or lower global prices. It does result in...

There was a USDA World Ag Supply and Demand report out last night. It generally failed to rate a mention in the lead up to the release, lots of other news to concentrate on, and let’s be frank, the international fundamentals of the grain market haven’t exactly been the...

The US wheat futures market succumb to …….. reality, profit taking, technical trade… call it what you will. Chicago SRWW and HRWW futures did close a little lower. Minneapolis spring wheat futures did manage to hold onto recent gains and closed a smidge higher. Canadian spring wheat was lower....

US wheat futures saw significant gains overnight. Nearby soft red winter wheat futures at Chicago was up 28.5c/bu, about AUD$14.91/t. The AUD is up 0.57%, taking back some of the cream, but seeing futures up AUD$13.00/t day to day is encouraging. I’d love to be able to talk about...

Both Chicago soft red winter wheat and hard red winter wheat futures saw double digit gains overnight. There’s no fundamental reasoning for this rally. Weekly US sales were not great, 203.1kt, that’s towards the low end of trade estimates leading up to the report which ranged from 200kt to...

US cash and futures for wheat saw a little downside overnight. Hard red winter wheat 11.5% out of the Pacific Northwest was roughly AUD$3.80/t cheaper when compared to yesterdays conversion from FOB US to, C&F Asian consumer, to XF LPP equivalent. US White wheat was relatively unchanged and higher...

One week you have to be an expert on Venezuela, next week China, then global tariffs, then freezing rain in Russia, then blizzards in the US, then crude oil shipments from the Middle East, no wonder I have no hair. From a fundamental perspective the actions between Israel, it’s...