Corn and soybeans firmed 1 percent, rapeseed and canola firmed a little, and French wheat eased 1 percent.

• Chicago December 2024 wheat down US0.5c/bu to 572.25c/bu;
• Kansas Dec 2024 wheat up 1.5c/bu to 582.25c/bu;
• Minneapolis Dec 2024 wheat down 2.5c/bu to 614c/bu;
• MATIF wheat Dec 2024 down €2.25/t to €224.25/t;
• Corn Dec 2024 up 4.75c/bu to 409.5c/bu;
• Soybeans Nov 2024 up 11c/bu to 981c/bu;
• Winnipeg canola Nov 2024 up C$4/t to $620.10/t;
• MATIF rapeseed Nov 2024 up €3.50/t to €504.50/t;
• ASX Jan 2025 wheat down A$3.50/t to $329/t;
• ASX Jan 2025 barley down A$5/t to $286/t;
• AUD dollar down 49 points to US$0.6658.

International

The Russian Grain Exporters Union said grain exporters would aim to deliver grains directly to government agencies and sovereign buyers and would not fulfil obligations to tender-winning foreign companies without long-term off-take agreements with Russian exporters. It said shipments would be made directly to government agencies and sovereign buyers in the following countries: Egypt, Tunisia, Algeria, Morocco, Jordan, Saudi Arabia, Bangladesh, Qatar, Kuwait, South Korea, Pakistan, India and Iraq. 

Reuters reported that the foreign minister of Ukraine, while on a visit to Turkey on Monday, asked for support to stop intensified Russian strikes on Ukrainian Black Sea port infrastructure.

Ukraine Agriculture Ministry reported that as at 18 Oct, 2024-25 harvest had yielded 22.3Mt wheat, 5.5Mt barley, 13.2Mt maize, 3.5Mt canola, 5.2Mt soybeans and 9.3Mt sunflowerseed. Cumulative total exports are at 13.0Mt, up 56pc year on year, including wheat at 7.2Mt (+74pc), maize at 3.8Mt (+13pc) and barley 1.7Mt (+152pc) 

The Rosario Stock Exchange noted that for the week ending 17 Oct, heavier than expected rain in central growing regions helped to prevent further deterioration of wheat yield potential, with the area estimated to be in fair/bad condition seen at 325,000 ha, down from 650,000 ha the week before. Some irreversible crop losses have been reported due to earlier dryness, particularly in southeastern Cordoba. Over the next week, more rain is forecast across main producing regions, although a sharp drop in temperatures is also anticipated. 

The Alberta Crop Report for the week ending 15 Oct noted harvest was aided by mostly dry weather, but cool temperatures limited hours due to extended dew or frost. Spring wheat harvest was 99pc (100pc year ago), barley at 98pc (100pc) and canola 92pc done (97pc). 

US private exporters reported sales of 170kt corn to Mexico, 130kt corn to South Korea and 198kt corn to unknown destinations. They also reported sales of 116kt soybeans to unknown destinations during the 2024-25 marketing year. 

Iran’s SLAL issued international tenders to purchase up to 120kt feed corn and 120kt feed barley, for Nov/Dec shipment.