French rapeseed lifted more than 1 per cent. All other markets saw small movements, mostly firmer.
- Chicago wheat December contract up US0.75c/bu to 713c/bu;
- Kansas wheat December contract up 4.5c/bu to 720.5c/bu;
- Minneapolis wheat December up 1.75c/bu to 906.5c/bu;
- MATIF wheat December contract up €0.25/t to €248.75/t;
- Corn December contract down 4c/bu to 529.5c/bu;
- Soybeans November contract up 1.5c/bu to 1296c/bu;
- Winnipeg canola November contract down C$4.30 to $875.50/t;
- MATIF rapeseed November contract up €8.25/t to €598.25/t;
- US dollar index up 0.4 to 92.9;
- AUD weaker at US$0.732;
- CAD weaker at $1.268;
- EUR weaker at $1.177;
- ASX wheat September contract unchanged at $326.50/t;
- ASX wheat January 2022 up $9/t to $344/t.
Following the other day’s Chinese bean sale cancellations, a new flash had two boats sold to China.
Regular export sales figures had 1.2Mt soybeans sold, 0.2Mt corn and wheat 0.6Mt. Chinese bean sales were nearly 1Mt.
US Gulf export facilities continue to push back into activity with talk of 10-20 boats loading/about to load and higher barge values are making headlines.
Morocco is tendering for US only wheat (TRQ specific)
China has announced that they will be purchasing more pork domestically or the state reserve, aiming to firm up domestic prices and protect margins to local producers.
With row crop harvest upon us Lachstock notes that several more new season Ukrainian corn boats have hit the stem there for late September shipment.
Cash wheat markets there continue to trend up, and analysts there are finally cutting crop ideas into the low 70Mt range, though the biggest question remains how the tax impact in Russia will turn out in the end.
Local markets continued to follow the global board up and many are watching the weather maps for the next rain event with some of the crops in SA/Vic starting to show more stress.
Source: Lachstock Consulting