International

China announced more details of its anti-dumping probe, which will examine 2023 imports and industrial damage from imports of Canadian canola over three years ending 31 December 2023. Its Ministry of Commerce said in a statement the investigation would start immediately, should be completed before 9 September 2025, but might be extended for another six months under special circumstances. The ministry said preliminary information showed dumping had taken place. 

According to the StatsCan Stocks Report as at 31 July, stock of Canadian wheat fell 19pc year on year to 4.6Mt, compared with a trade estimate of 3.6Mt. Canola stock increased 67pc y-o-y to 3.1Mt, reflecting 129pc higher commercial stock at 2.3Mt. On-farm canola stock fell 8pc to 775kt. Total domestic disappearance of canola, mostly for crushing, increased 8pc to record 11.5Mt. Higher domestic disappearance was more than offset by lower canola exports, down 16pc to 6.7Mt. Barley stock was up 73pc to 1.2Mt, of which on-farm increased 58pc to 878kt and commercial increased 126pc to 344kt. Usage of barley for feed purposes fell 13pc to 4.8Mt. 

Interfax news agency reported Russia shipped 5.6Mt of wheat in August, a record for that month, citing railway transport operator Rusagrotrans data.  

Russian Institute for Agricultural Market Studies IKAR cut its Russian wheat crop estimate to 82.2Mt from 83.8Mt and revised down 2024-25 wheat exports by 0.5Mt to 44Mt.  

Ukraine-based agribusiness consultancy APK-Inform revised its forecast of Ukraine 2024-25 wheat exports up by 0.4Mt to 13.8Mt and revised down its corn export forecast by 0.5Mt to 22.5Mt.  

Ukraine’s government and exporters agreed earlier this month to limit wheat exports, to 16.2Mt, in 2024-25, without specifying grades. The association Millers of Ukraine said milling quality wheat exports should be limited to 30pc of the total. Early season shipments have focused on milling wheat. Milling wheat accounted for about 58pc of the 3.3Mt wheat exported in the first two months of the marketing year. Ukrainian officials have indicated they are ready to discuss more serious measures to restrict milling wheat exports when the volume exceeds 3.5Mt. 

Brazil agricultural consultancy AgRural reported that Brazil’s summer corn planting was 15pc complete as of 5 Sep, compared with 17pc last year. Planting of the 2024-25 soybean crop had not yet begun due to low soil moisture and the hot, dry weather impacting most growing regions. 

US private exporters reported sales of 132kt of soybeans to China during the 2024-25 marketing year.

Australia

Western Australian canola markets eased on Monday. New crop canola bids lost around $10/mt to $750/t FIS. Wheat was unchanged from Friday, bid $351/t FIS, and barley bids gained $5/t to around $305/t FIS. 

In the east of Australia canola bids were down $5-8/t to around $695/t. Cereals largely were unchanged with barley about $305/t and wheat $338/t. 

Last week’s rainfall was disappointing for most of South Australia’s cropping regions, with large parts of the Eyre Peninsula, Yorke Peninsula, Mid North, and Murraylands recording less than 5mm. The coming week doesn’t look to have any significant rain forecast for these regions and crops rapidly are running out of stored moisture.