Mixed for grains and oilseeds.

• CBOT wheat down -1.75c to 506.75c,
• Kansas wheat down -4.25c to 493c
• Spring wheat up 1.75c to 572c.
• CBOT corn up 0.5c to 372.75c
• Matif corn up  €0.75 to €173.75
• Soybeans up 2c to 883c,
• Winnipeg canola up C$1.80 to $479,
• Matif canola down €0.25 to €369.50
• Dow Jones down -0.950 to 24464.69,
• Crude oil down to US$54.63,
• AUD $0.7250,
• CAD $0.755,
• EUR $1.138.

Wheat

Wheat finished fractions lower and 6 cents off their highs. Implied volume in March SRW finished at 20.25pc. Matif wheat was up 0.25€ to 202.5€, Black Sea wheat up $1 to $245.5 and the Ruble down -0.12pc to 0.0152. Cash markets in Europe and the Black Sea were stronger thanks to a general slowing in export pace, mainly due to logistical constraints from rail and grain availability. This prompted support for US futures, but the lack of export business and demand prompted an adjustment in premiums. At least US wheat is getting closer to pricing export business, but no one is willing to step up until it does.

Corn

Corn traded a 3-cent range, finishing fractions higher in low volume ahead of the US Thanksgiving holiday period. A rebound in crude oil and better than expected ethanol production figures helped to warn off sellers..

Soybeans

Beans finished with mild gains, trading a 13-cent range in low volume. The market is waiting for a new fundamental catalyst to feed off. Soybean Meal was down US$-0.89 per tonne and soy oil was up 0.47 points.

Canola

Canola futures found support in Canada after a string of negative closes. The market appears oversold for now, with order-flow helping to achieve larger gains.

Australia

Cash markets were stronger across the board in Australia with a lack of offers in WA prompting cash market increases. Grower selling has slowed down in barley and the market is now reminded of the tight local/global balance sheet, whilst casting a critical eye over China’s realistic ability to halt imports of malt. Some rumours circulating that Aussie sorghum may also face an anti-dumping investigation, but no one is willing to sell the cheapest feed grain in the country down just yet. If they ban barley and sorghum, then we’d expect to see some thirsty locals given our participation in their malt and baijiu industry.