It was all about Chicago corn and soybean futures last night. Soybeans were crushed, absolutely smashed, losing 118.75c/bu (AUD$57.78) on the nearby contract. Outer months were also sharply lower, Jan 22 down 89.5c/bu (AUD$43.55). Corn futures were also caught up in what was initially described as a “weather driven...

Chicago soybeans were once again sold off. Technical support is likely to start creeping in soon but the punters live by the saying “the trend is your friend” and at present that trend is down. The weakness spilled into both Paris and Winnipeg oilseeds with canola and rape both...

Pressure came from a better weather outlook in the US and outside markets. The negativity was aided by speculation the US Fed were talking higher interest rates and inflation. One thing I’ve certainly noticed here in retail land is the cost of goods are definitely up. Probably to the...

Big moves lower in both Chicago corn and soybeans weighed on wheat last night. A number of bearish fundamentals attributed to last night’s sell off in the row crops. The sell-off in soybeans did manage to pull the market back to a more neutral position technically. As usual it...

The USDA World Ag Supply & Demand Estimates report was out overnight. It was a bit “smoke and mirrors” when you get into some of the data. Corn seemed to be a winner, I’m not 100% sure why really, the data isn’t that bullish. The only real change to...

In the US we see wheat futures either side of unchanged. Spring wheat futures suffered the most with the weather map showing some moisture potentially giving northern producers another week or so before some very hard decisions will be made. There is already reports of some wheat fields in...

Looking at the charts we may have been a little lucky with a higher close at Chicago last night. The stochastic shows both wheat and corn futures quickly pushing back towards over-bought and soybean futures already well above over-bought. The key to the rally was support from a poorer...

Week on week the US crop progress report shows a decline in the corn rating from 76% G/E back to 72%, that’s a significant week on week decline. Prior to the release of the report the punters were tipping a slight 2% decline, not the 4% handed out. This...

Traders took a last look at the US / Canadian weather map on Friday and realised things ain’t great in the northern plains. Temperatures over the next couple of days are expected to get into the mid to high 30’sC across the Dakotas and into MN. In some locations...

US row crop futures saw some profit taking and fund money moving out of grains and back into stocks on the back of some good employment data in the States. An early session dip in the stock market allowed entry at a good level in the afternoon. Back in...