US futures saw the punters pulling wheat money out, taking some profit after the recent rally above 600c/bu and placing their bets back on Wall St which saw progress on the US$2T COVID stimulus package, it was only confirmation it will not be presented until after Nov 3rd. Corn...

A combination of weaker low to mid-grade wheat futures at Chicago and a firmer AUD will keep a cap on prices today. Not that the local markets have been too wrapped up in benchmarking against US futures and basis of late. Hell, we can’t even get them to sustain...

You have to go back to the 23rd of December 2014 to find soft red winter wheat futures for the nearby contract higher than they are today. On that day we had currency of 81.27c and cash APW1 at Gunnedah was $286. Yesterday we had $288 for APW1 at...

Overnight markets were firmer in the USA with wheat, corn and soybeans all seeing small gains. The fundamentals were basically unchanged with good export orders pushing corn, potential sales pushing soybeans and dry weather driving wheat values higher. Grains may have seen an influx of funds from despondent Wall...

Dry weather in the USA, Argentina and Russia continues to be the fundamental driving force behind a further rally in Chicago SRWW futures overnight. Weekly US export sales volume was also viewed as supportive, landing on the high side of trade estimates prior to the report’s release. Pakistan picked...

The punters came out hard and fast in the Chicago wheat market overnight. Volume in the December SRWW contract at Chicago was significantly up on the last three sessions. Soft red winter wheat futures found support from dry weather in the USA, Russia and Argentina. The sowing pace of...

US grain futures were generally flat to firmer again overnight led higher by soybeans which found support from dry weather in Brazil. The delay at this end of the season in Brazil may in turn widen the window for business US soybeans have to move to China, potentially reducing...

“Technical Tuesday”, “turn around Tuesday”, call it what you will, it was good to see US grain futures generally flat to firmer in overnight trade. Soybeans were the clear winner putting on 10.25c/bu on the nearby.  ICE canola futures were not following the lead though and shed another C$2.00....

Chicago soybean futures weighed on the session as prices fell back off two year highs. With a 31.75c per bushel (AUD$16.20) loss on the nearby contract it will put pressure on canola values at the ICE and Paris. The Paris contract backed off E5.75 per tonne on the nearby...

The USDA dropped their latest WASDE report last night. Corn and soybeans were the two big winners. Soybeans saw a sharp decline in beginning stocks and production in the USA. These two reductions combined with an increase in export sales to result in a sharply lower ending stocks number....