Markets mostly firmed on Wednesday.
- Chicago wheat December contract up US17 cents per bushel to 816.25c/bu;
- Kansas wheat December contract up 18.5c/bu to 876.75c/bu;
- Minneapolis wheat December contract up 12.75c/bu to 919.25c/bu;
- MATIF wheat December contract up €2.50/t to €327.25/t;
- Black Sea wheat December contract up $1.25/t to $345.75/t;
- Corn December contract up 4.5c/bu to 618.5c/bu;
- Soybeans November contract down 1c/bu to1427.75c/bu;
- Winnipeg canola November 2022 contract was up C$2.10/t to $856/t;
- MATIF rapeseed November 2022 contract down €1.25/t to €659/t;
- ASX Jan 2023 wheat contract down A$2/t to $415/t;
- AUD dollar firmer at US$0.707.
US private exporters reported sales of 196,000t soybeans for delivery to China during the 2022/2023 marketing year.
Japan bought 83,000t food quality wheat from the United States and Canada in regular tenders on Wednesday.
French official sources said while difficult growing conditions reduced the soft wheat crop to 33.9Mt this year the quality of the harvest mainly was good. Production was 3pc below the 5-year average.
Current crop markets on Clear Grain Exchange traded thinly at prices little changed from previous. New crop multigrade wheat bids firmed a dollar or two in Victoria and SA. New crop canola firmed $10-15/t into domestic crush for Jan-plus delivery. New crop markets remained at a standoff.
GrainCorp raised its annual profit forecast for the second time, as it capitalises on strong demand for grains and vegetable oils amid a supply crunch from the war in Ukraine. GrainCorp share price spiked 7-8pc yesterday. “This positive outlook is driving an increase in fourth-quarter activity and supporting export volumes, forward contracted grain sales and supply chain margins,” GrainCorp chief executive officer Robert Spurway said in a statement. Mr Spurway also said GrainCorp agribusiness and processing divisions this year were set to deliver record financial results and the company was operating its supply chains at close to full capacity.