We have a USDA WASDE report out Feb 9th US time, so we’ll see their thoughts here on Thursday. Chicago soybeans were the big winner overnight. Futures for the nearby were up 28.25c/bu (AUD$14.56). Thoughts that China will look to the US for imports in the short to mid-term,...

South Korean Major Feedmill Group, MFG, purchased up 110kt of feed wheat overnight. Reports expect to see supply of 55kt from India and the balance potentially coming from either the US PNW or Australia. I’d be backing the later on the second 55kt. US quality out of the PNW...

US wheat futures are now almost back to levels prior to when the Ukraine / Russia conflict talk first arose. Global fundamentals remain relatively unchanged so one can only assume, in the short term, we are more likely to push 20c/bu lower, rather than 20c/bu higher, in order to...

Chicago soybeans continue to push higher, closing with nearby gains of 16.75c/bu (AUD$8.60). The move fuelled by speculation on the S.American crop. Spill over buying was evident in both canola and rapeseed futures but at the current price level canola will struggle to push higher and is more likely...

The US dollar continues to slide after hitting a 19 month peak at the end of last week. This has seen the value of the Aussie dollar increase again overnight, countering the potential move higher in US grain futures. The US Fed continue to talk of higher interest rates...

Chicago soybean futures bucked the trend lower in wheat and corn, putting on 20c/bu (AUD$10.39) in the March / May slots. Nearby Paris rapeseed was sharply high, up E36.50 per tonne but the big increase was not reflected in the new crop contracts which were a touch lower by...

With the AUD back under 70c this morning and some healthy gains in US soybean, Paris Rapeseed and Winnipeg canola futures one remains optimistic about the outlook for local values for both old and new crop canola here come Monday. The AUD came under pressure from an increasing US...

The Aussie dollar pushed below the 71c resistance level overnight triggering technical selling and a close of 70.29c. Some analyst do not expect to see sustained activity below the 70c mark but further strength in the USD may counter that sentiment. A drop below 70c is expected to produce...

Sell wheat, buy corn / soybeans seemed to be the cry at Chicago last night. The punters are quickly coming to the realisation that the Russian / Ukraine situation, although worthy of a mention in a news articles, is probably not the catalyst for WWIII as the US media...

Overnight Chicago wheat futures pushed higher taking both HRW and spring wheat at Minneapolis for the ride. The rally appeared in the Chicago overnight session with good gains prior to the day session opening. The fundamentals haven’t really changed much, which would indicate that the basis for this move...