Most Friday markets reversed Thursday’s losses. Movements in the Dow and US dollar indices almost mirrored each other, the dollar index gaining and the Dow Jones Industrials Average easing. The Australian dollar eased one percent.
- Chicago December 2024 wheat up US3.5c/bu to 609.75c/bu
- Kansas December 2024 wheat up 6.25c/bu to 616.75c/bu
- Minneapolis December 2024 wheat up 3.25c/bu to 676c/bu
- MATIF wheat December 2024 up €2/t to €222.75/t;
- Corn December 2024 up 6c/bu to 472c/bu;
- Soybeans November 2024 up 12c/bu to 1176.25c/bu;
- Winnipeg canola November 2024 up C$11.70/t to $657/t
- MATIF rapeseed November 2024 up €7.25/t to €469/t
- ASX May 2024 wheat up A$1.50/t to $327/t;
- ASX January 2025 wheat down A$1/t to $345/t
- ASX May 2024 barley unchanged at A$300/t;
- ASX January 2025 barley unchanged at A$312.50/t
- AUD dollar down 72 points to US$0.6466.
International
Buenos Aires Grain Exchange reported that for the week ending 11 April, Argentine maize harvest was 15pc complete (13pc previous year) and crop condition was rated 64pc fair/excellent (68pc previous week, 47pc previous year). Production was revised 2.5Mt lower to 49.5Mt, reflecting the impact of disease and heat stress. Soybean harvest was 11pc complete with conditions rated 78pc fair/excellent (79pc, 34pc). Reflecting prospects for reduced yields in parts of Cordoba and La Pampa, production forecast cut by 1.5Mt, to 51.0Mt.
FranceAgriMer reported that as at 8 April, 2024-25 the French common wheat crop was rated 64pc good/excellent (65pc previous week, 93pc previous year), durum 70pc (70pc, 90pc), winter barley 67pc (66pc, 91pc) and spring barley was rated 60pc good/excellent (61pc, 95pc).
US private exporters reported sales of 124kt of soybeans for delivery to unknown destinations during the 2023-24 marketing year.
Australia
Local markets ended the week very quietly on Friday after softer futures and higher Australian currency kept the lid on any potential upward bid movement.
WA picked up some patchy showers over the weekend but totals generally were less than 10-15mm. The 8-day forecast is looking relatively dry for most cropping regions with less than 10mm expected across southern Qld and northeast NSW and nothing expected for southern NSW, Vic, SA or WA.
ABS data shows that Australia exported just under 763kt of canola in February, up 80% from the volume shipped in January. The EU took 339kt, Japan 164kt, Mexico 86kt and the UAE 61kt.
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