Canola eased one percent. Matif wheat gained 2pc.
- Chicago wheat December up US9.5c/bu to 589c/bu;
- Kansas wheat December up 3.25c/bu to 714.5c/bu;
- Minneapolis wheat December down 1.5c/bu to 769c/bu;
- MATIF wheat December up €4.50/t to €240.25/t;
- Black Sea wheat has not quoted since 11 August;
- Corn December up 4c/bu to 481.25c/bu;
- Soybeans May 2024 up 3c/bu to 1335c/bu;
- Winnipeg November canola down C$11.10/t to $710.90/t;
- Winnipeg May 2024 canola down C$11.10/t to $733.30/t;
- MATIF rapeseed November 2023 down €0.50/t to €440.75/t;
- MATIF rapeseed May 2024 down €2.25/t to €463.50/t;
- ASX January 2024 wheat unchanged at A$420/t;
- ASX January 2024 barley unchanged at A$370/t;
- AUD dollar eased 17 points to US$0.6424
A Russian air strike on the southern Ukrainian region of Odesa caused significant damage to port infrastructure and destroyed some grain storage facilities according to Ukrainian officials.
Ukraine grain exports between 1-24 September totalled 1.57Mt, less than half the 3.21Mt shipped over the same period last year.
The Alberta Crop Report noted that for the week ending 18 Sept, wheat harvest was 79pc complete (88pc last year), barley was 82pc (90pc) and canola 39pc complete (54pc). Harvest was aided by favourable weather conditions in all regions.
The Saskatchewan crop report noted that for the week ending 18 Sept, winter wheat harvest was complete, spring wheat 88pc complete (77pc last year), barley 92pc (82pc) and canola 65pc complete (52pc). The report noted that crop damage continued to be caused by drought and grasshoppers, as well as light frosts, wind and wildlife.
According to Egypt’s Supply Minister they are negotiating a loan facility with Abu Dhabi Commercial Bank (ADBC) to finance potential purchases of wheat from Kazakhstan and other origins.
Morocco will reportedly offer subsidies to import up to 2Mt of soft wheat between October and December 2023.
US private exporters reported sales of 1.66Mt of corn to Mexico. Of the total, 1.05Mt is for delivery during the 2023-24 marketing year and 611kt is for delivery during the 2024-25 marketing year.
Taiwan Flour Millers’ Association reportedly purchased 93,125 tonnes milling wheats from the US, including 59,140 tonnes DNS (min. 14.5pc protein) at $341-371/t fob, 18,790 tonnes HRW (12.5pc) at $306-310/t fob and 15,195 tonnes SW (8.5pc-10.0pc) at $281/t for Nov/Dec shipment.
Local markets started the week sluggish. Current crop liquidity was thin and new crop wheat and barley values were a touch softer. Canola and pulses were largely unchanged amid thin trade. Monday was a public holiday in Western Australia.
The 8-day forecast is not great with no rain forecast for Queensland or central/northern NSW. Southern NSW, Vic, SA and most cropping regions of WA have less than 5mm on the map, while southern WA can expect 5-15mm. Longer term forecasts are more promising with some decent rainfall forecast for the eastern states after the October long weekend.