In the US we see Chicago soybean futures bouncing sharply higher overnight dragging both nearby rapeseed futures at Paris and ICE Canadian canola futures higher. With local canola basis at -$43.53/t yesterday there is a good chance we’ll see local values follow international values higher…….. am I the eternal...

With the December contract rolling off the board the USDA report appears to be long forgotten. US wheat futures were smashed overnight with SRW, HRW and spring wheat all taking a hit by the close. The Platts APW1 FOB Aussie wheat contract for the Feb slot was up US$0.50...

Wheat futures in the US continued higher. Fuelled by the USDA report and technical buying. Looking at the charts it’s a pretty steep line at present but still pushing through neutral on its way to overbought. Keep an eye on a slowing of purchases or a short term top...

It’s USDA WASDE time, grab a coffee and let’s have a look at what kind of sorcery the USDA analyst have conjured up for the December report. Sticking with wheat we see world production increased by 1.28mt to a record 773.66mt. Luckily to counter this we see an increase...

As mentioned earlier in the week the technical side of the US futures markets had been indicating things had gotten a little oversold in wheat, corn and soybeans over the last week or so. Last night we saw what was probably a small correction as a few of the...

There’s a USDA WASDE report due out tomorrow night. That came around quick. Those that know me know I like to follow two things when trying to determine market direction. Firstly I’m a firm believer in the fundamentals when talking physical price, cash prices, the laws of supply and...

As the northern hemisphere heads into the winter dormancy period don’t expect any significant market moving news. We may be in for a short period of sustained or rangebound prices. Managed money has pulled back their speculative position in both US and EU futures markets in search of greener...

Chicago corn, wheat and soybeans were all lower by the close. Even the untraded Platts APW1 Aussie FOB wheat contract at Chicago closed lower, back US$6.00 for a Feb 21 slot. Settlement for the Aussie product was estimated at US$257.50 for a Feb slot, this would roughly equate to...

Argentina’s wheat crop, a crop that was rated at 52% poor on October 14th, is now 39% harvested. During the harvest period we’ve seen crop condition ratings improve. The trade are suggesting thanks to the late rain but we all know how late rain can impact on a crop,...

S.Korea picked up 31.6kt of wheat off the US and Canada overnight, according to some reports it was for various grades, generally higher. Considering S.Korea are also tendering for 45kt of Australian wheat one might consider it is a blending exercise. The average price for the N.American purchase was...