US wheat futures saw some sharp moves higher overnight. The move in the futures market spilled over to higher values for both Canadian and US wheat out of the Pacific Northwest too. Futures saw spillover support from the previous session, which had reacted to lower than expected quality ratings...

The AUD is back 0.64% against the green back this morning, but up a little from late yesterday afternoon after setting a 12 hour low of 64.64USc. It’s a nice move lower, and the fact it is combining with a slight recovery in both international cash and futures makes...

The June WASDE was out last night, something for the market to ignore when it comes to wheat. The data is more bullish wheat than bearish. Opening stocks are lower by 1.23mt, global production was increased a smidge, a few tweaks to demand, a 1.34mt increase in world exports,...

The US futures market saw mostly technical trade ahead of tonight’s monthly USDA World Ag Supply and Demand Estimates report and their weekly export shipments and sales report. The consensus leading into the WASDE report is for larger world and US wheat production, with increases in both hard red...

International futures appear to be ignoring the current fundamentals, selling wheat futures lower at Chicago, Minneapolis and Paris. The sell down may have squared up the December SRWW contract. The Dec stochastic now neutral. This could be an indicator that the market is in a position to react either...

US wheat futures slipped away on Monday night, eroding more than half of last weeks gains in just one session. Lower corn and soybean futures wont help. We also have a stronger AUD against the US dollar compounding the move when converting it all to AUD / tonne this...

US corn futures closed at a two week high on the back of speculation US sown area may not make USDA initial projection. It has nothing to do with the corn / wheat spread trade, or an escalation in the Ukraine / Russia war, or a weaker USD, or...

The AUD, up one day, down the next, then up again, the punters love their volatility. The rise of the AUD this morning will counter the move in US SRWW futures by roughly AUD$1.00 per tonne. The higher grades were less volatile in the US. HRWW harvest pace and...

US wheat futures took a hit overnight. The data out of yesterdays crop progress report for both spring and winter wheat in the states was more bearish than bullish. The main kicker being the 5pt improvement in the G/E rating for spring wheat. Both MGEX spring wheat futures and...

The USDA weekly crop progress report was out last night. Corn planting progressed to 93% complete, the major production states, Iowa, Indiana and Illinois, are pretty much bang on the 5 years average pace. Indiana is a little slow at 86% sown vs the avg of 90%, but this...