The strength in the AUD threatens to undo a significant rally in both ICE canola futures at Winnipeg and Paris rapeseed futures. Paris put on AUD$21.09 on the nearby contract and Winnipeg was up close to AUD$10.31. The change in AUD/EUR is worth about -AUD$4.00. The weaker USD was...

The US grain futures market generally trended lower for wheat and corn while soybeans were just a touch higher. The big news in US corn is the announcement that Mexico, one of the USA’s major corn consumers, is considering a ban on GM corn from 2024. The US has...

Chicago wheat futures hit a three month low overnight. The market looks to blame the Chinese lockdowns and the demonstrations there. A big Russian crop is not helping either. Russian wheat is expected to feature in a number of tenders closing this week. Turkey is seeking 455kt, Pakistan 500kt...

Wheat was the big loser in the US futures market overnight. Chicago soft red winter wheat sharply so, hard red winter wheat and spring wheat with single digit losses. Corn and soybean futures were steady to firmer by the close. Pressure came from both the EU and Russian supplies...

The US is eating turkey and getting basted, so no US data to consume this morning. The London and Paris products are not going to help us much though. London feed wheat futures were back £3.20 on the nearby and March contract. Paris milling wheat, that had been the...

US wheat, corn and soybean futures closed firmer across the board, as did the AUD. The Aussie dollar put on 1.34% against the greenback in overnight trade and is steady at 67.29, near the session high, as I write. That’s an increase of over 3c for this month. Paris...

Chicago wheat futures and Paris milling wheat futures continue to move in opposing directions. Overnight all three US red winter wheat grade futures were slightly lower. The US market seems to be getting comfortable with a winter wheat crop that’s rated just 32% G/E and is 87% emerged. This...

Not the way you like to see US futures start the week. Wheat and corn pushed a little lower. Corn, unlike wheat, had become vulnerable to a technical sell off after becoming massively overbought in recent weeks. The selling in corn spilt over into the wheat market which was...

Chicago SRWW and HRWW futures closed lower again in overnight trade. Technically these two grades of US wheat look very oversold and are looking very likely to have at least a technical correction in the near term. Fundamentally wheat is probably seeing as much positive news as it is...

The grain corridor deal between Ukraine and Russia has been extended another 120 days (March 19th). This news was generally expected and appeared to have minimal impact of the MATIF milling wheat contract, which rallied AUD$7.36 per tonne on the December contract. US wheat futures pushed lower after the...