Chicago soybean futures were back 31c/bu on the nearby contract overnight. Profit taking kicked off early with their overnight session seeing some downside before the trend carried over into the main day session.  A quick look at the stochastic chart shows there is still plenty potential downside left in...

The US celebrated Martin Luther King Day with a public holiday on Monday. Scrolling through the market reports there’s nothing jumping out as majorly bullish or bearish. The Russian export tax is the main story. The increase in Russian offer values seems to have resulted in Turkey pulling a...

In the US, Chicago soybeans and corn took a well-earned breather, while wheat futures managed to find some more upside on the back of the Russian export tax position. US farmers remain annoyed at the extent the cash market has not reflected the recent rally in futures. It appears...

The International Grains Council, IGC, joined the list of analyst calling for smaller ending stocks for corn. This revived the rally in Chicago corn futures and at one stage had the May contract trading at 540c/bu. This might not sound that impressive but US corn futures, for the nearby,...

US wheat futures were mixed, soft red winter wheat at Chicago was back a little while hard red winter wheat was a touch firmer, as was spring wheat at the Minneapolis Grain Exchange. Cash bids for US hard and spring wheat out of the Pacific North West were generally...

Today is going to be an interesting one. The rally in US grain futures last night was the biggest one session move nearby soft red winter wheat futures had since the 25th of July…….2018. It’s the best one session rally nearby corn futures at Chicago has had since June...

There’s a USDA world ag supply and demand report due out tonight, so don’t expect to see too many big moves from the punters out there today. Technically we see Chicago SRW and HRW futures still a little over bought but generally trending towards neutral, that’s a good place...

South American weather continues to be a major driving force in the oilseed market. Overnight at Chicago soybean futures were again higher closing the session at 1375.75c/bu (AUD$652.58), about midway through the sessions range. Chinese demand is paramount though. The strength in beans dragged both Paris rapeseed futures and...

The Aussie dollar cracked 76c as the US government continues to fumble the aid and stimulus package. The AUD also found some assistance higher from local jobs data. Unemployment was better than expected at 6.8% in November. Looking at how slow retail is in the lead up to Christmas...

In US grain futures overnight moves were minimal with corn closing in the black while wheat and soybeans were generally a smidge lower. Chicago soybean futures continue to flirt with 1200c/bu but each time it threatens to break through this level of resistance selling pressure forces it lower. Technically...