Offshore wheat markets jumped in Friday trading.
- Chicago wheat May contract up US19.5cents per bushel to 1106.5c/bu;
- Kansas wheat May contract up 23.5c/bu to 1089.25c/bu;
- Minneapolis wheat May up 15.25c/bu to 1070.25c/bu;
- MATIF wheat May contract up €4.75/t to €373/t;
- Black Sea wheat July contract up $10/t to $350/t;
- Corn May contract up 6.75c/bu to 762.75c/bu;
- Soybeans May contract down 10.25c/bu to 1676c/bu;
- Winnipeg canola November 2022 contract up C$3.10 /t to $929.60/t;
- MATIF rapeseed November 2022 contract up €1.75/t to €733.50/t;
- ASX July 2022 wheat contract down A$2/t to $409/t;
- ASX Jan 2023 wheat contract up $1/t to $405/t;
- AUD dollar weaker at US$0.729.
Russia’s escalating aggression in Ukraine prompted further sharp rallies in Friday trading.
According to a Reuters report, US-based agrifood giants Cargill and ADM on Friday announced they would be scaling back their activities in Russia.
Bunge on Thursday said its oilseed-crushing plant in Russia was still operating to service the domestic market, but that it had suspended any new export business from Russia.
The past week has brought falls of up to 30 millimetres to pockets of the New South Wales and Queensland grainbelt, and the same in patches of southern Western Australia.
Any rain now will be welcome as growers accelerate their planting of grain-and-graze crops like canola and oats to open their seeding program for 2022.