Offshore markets eased. Australian wheat gained.

• Chicago wheat December down US13c/bu to 591.25c/bu;
• Kansas wheat December down 11.5c/bu to 735c/bu;
• Minneapolis wheat December down 11.5c/bu to 777.5c/bu;
• MATIF wheat December down €5/t to €238.50/t;
• Black Sea wheat has not quoted since 11 August;
• Corn December down 4.75c/bu to 471.5c/bu;
• Soybeans November down 23.5c/bu to 1316.75c/bu;
• Soybeans May 2024 down 20.75c/bu to 1350.25c/bu;
• Winnipeg November canola down C$21.90/t to $742/t;
• Winnipeg May 2024 canola down C$21/t to $763.10/t;
• MATIF rapeseed November 2023 down €11.50/t to €433.25/t;
• MATIF rapeseed May 2024 down €8.25 to €461.50/t;
• ASX January 2024 wheat up A$6/t to $434/t;
• ASX January 2024 barley unchanged at A$360/t;
• AUD dollar gained 5 points to US$0.6437.

International

Tensions in the EU are rising. Poland and Slovakia unilaterally extended a ban on wheat, corn, rapeseed, and sunflower imports from the Ukraine. Hungary expanded its list of prohibited goods to 24. Romania has not yet extended restrictions, but reportedly has an agreement with Ukraine that there will be no imports until they can agree a joint licensing arrangement. Bulgaria was not going to introduce restrictions that would contradict the decision of the European Commission, but local farmers have reportedly started blocking the roads with tractors.

Ukraine will file a complaint to the World Trade Organisation over the restrictions and has said that it may retaliate with bans on imports of several products such as onions and apples from Poland and cars from Hungary. Spain’s Agricultural Minister said a unilateral ban by any European Union member state on Ukrainian grain imports seemed illegal but it was up to the European Commission to judge.

Ukraine’s Air Force has said that Russia launched a combined drone and missile attack on Ukraine early on Sunday, targeting southern parts of the Odesa region and despite Izmail port being targeted no damage to port or grain infrastructure was reported.

The Ukrainian Sea Ports Authority said bulk carriers “Resilient Africa” and “Aroyat” had arrived in the port of Chernomorsk, due to load around 20,000t wheat for Africa and Asia. 

EU corn yields were revised down 3% in the MARS September update due to persistent drought in Romania and Bulgaria and floods in Greece. The update noted that soil moisture content decreased to critically low levels in eastern and southern areas during the grain-filling period for maize and sunflowers.

US private exporters reported sales of 123,000t soybeans to China for the 2023-24 marketing year. 

Algeria’s state grains agency is seeking 50kt of soft wheat and 50kt of feed barley, offers due today according to a copy of the tender document seen by Bloomberg. Supply is sought for Nov/Dec shipment.