The nearby moves on both Paris rapeseed and Minneapolis wheat futures were good examples of being on the wrong side of things as the nearby contract moves close to expiry. Nearby May Paris rapeseed had been much higher than the next slot, August, and failing to converge for some...

The weekly US crop progress report is out. The numbers are good, soybean and corn sowing is progressing very quickly, beans 18% in, and corn 24% sown. 15% of the cotton crop is also in the ground. Sorghum sowing is estimated at 21% complete just ahead of the 5...

International futures and cash markets were generally sideways to a little firmer overnight. Outer month Chicago corn futures closed in the red, the consensus there being that US acres are more likely to increase than decrease. Rainfall over the last 7 days in the US has been good across...

International wheat futures were sold lower overnight. US and EU futures markets shed value, the EU markets were sharply lower. Paris milling wheat shed €2.75 / t nearby and €4.00 / t in the December slot. One of the harder hit contracts was London feed wheat, back £5.40 /...

The Aussie dollar is mixed, stronger against the US dollar but weaker against a raft of other currencies including the Euro, CAD and Yen. The strength in the AUD against an imploding US currency has a few of the punters perplexed. At the end of the day the AUD...

As one market wire states this morning, “the bears are in control today”. US futures were softer across the board bar HRWW futures, which appears to be torn between following the rest of the grains lower and the weather forecast. The forecast for the USA still looks a little...

We get the first official USDA weekly crop progress report on the 7th. The current winter wheat crop rating across Kansas improved 1pt this week, the Good / Excellent rating now pegged at 49% G/E. The Oklahoma rating fell sharply to 37% G/E, a week on week change of...

There’s a little more green on the futures boards this morning. Chicago soybeans done a bit of a reversal though, bucking the recent trend higher. The slippage in beans weighed on Paris rapeseed futures and nearby canola futures at Winnipeg, but Winnipeg continues to recover in the outer months...

The oilseeds are the only ray of light in the futures markets this morning. Chicago soybeans closed 6.25c/bu higher nearby and +8c/bu (AUD$4.67/t) in the Sept slot. The strength was across all the oilseeds. Paris rapeseed, Winnipeg canola and palm oil all closed higher. Palm oil impressively so, up...

There’s a lot of red on the screen for international grain futures this morning. Chicago corn, soft red winter wheat closed a smidge lower while the higher protein milling wheat grades were a smidge higher. London feed wheat, Paris milling wheat and Paris corn futures all closed lower. Paris...