International

FranceAgriMer reported that as at 15 July, the 2024-25 common wheat crop was rated 52pc good/excellent (57pc previous week, 80pc previous year) the lowest rating since 2016. Durum was at 60pc (62pc, 67pc), winter barley at 53pc (55pc, 80pc), spring barley at 69pc (69pc, 73pc) and maize at 81pc (83pc, 82pc). Common wheat harvest was 14pc complete (51pc previous year, 43pc five-year avg), durum at 45pc (82pc, 76pc), winter barley at 80pc (98pc, 89pc), and spring barley at 13pc (59pc, 37pc). 

Buenos Aires Grain Exchange reported that for the week ending 17 July, 2023-24 maize harvest was 79pc complete (67pc previous year). Good progress was noted in central and northern regions, while high humidity hampered progress in the south. Production unchanged at 46.5Mt. Sorghum harvest was 87pc complete (75pc previous year), production unchanged at 3.0Mt. 2024-25 wheat planting 95pc complete (92pc previous year, 95pc five-year avg), with polar winds reportedly hampering progress. Near term weather outlooks indicate rainfall, which would be beneficial. 

The Saskatchewan Crop Report for the week ending 15 July notes warm temps and little rainfall during the past week, resulting in rapid crop development and reducing topsoil moisture reserves in many regions. Overall pest pressures remained low across most parts of the province. Near-term weather forecasts suggest a continuation of warm and dry conditions, likely resulting in further heat stress and an increase in crop damage, notably in the southwest and southeast. 

Tunisia’s state grains agency reportedly purchased 100kt of barley in a tender that closed on Friday, for Aug-Sept shipment at US$218.96/t cif. 

Jordan’s state grains buyer seeks (24 Jul) up to 120kt of feed barley from optional origins for Sep-Oct shipment.

Australia

WA canola values gained on Friday on the back of global canola markets. New season non-GM was up over A$20/t bid $805/t. GM gains were higher at about +$28/t. It was bid $725/t, closing the spread between the two slightly, to $80/t, in most port zones. Nearby canola enjoyed similar gains to be bid $757/t. New season wheat and barley prices were steady, bid at around $342/t and $291/t, respectively. 

The east coast saw similar gains in canola, with nearby gaining $17/t to be bid $716/t and new season gaining closer to $25/t to be bid $746/t. Nearby wheat and barley were solid, and new season wheat made small gains across the board. 

Delivered Darling Downs new season wheat and barley were bid at parity on Friday at around $345/t. 

There were some decent falls of rain over the weekend in SA and Vic, with parts of SA’s Mid North and Eyre Peninsula regions seeing up to 15mm while further south in the Lower Southeast 25-50mm was recorded. Across the border, the Western Districts saw another 10-50mm and most of the Wimmera saw 5-10mm.