Daily Market Wire 30 April 2024

Lachstock Consulting, April 30, 2024

French wheat eased 2 percent and Chicago eased more than 1pc.

  • Chicago December 2024 wheat down US10.75c/bu to 655c/bu
  • Kansas December 2024 wheat down 3c/bu to 681.5c/bu
  • Minneapolis December 2024 wheat up 3.25c/bu to 727c/bu
  • MATIF wheat December 2024 down €4.25/t to €236.25/t;
  • Corn December 2024 down 0.75c/bu to 472.75c/bu;
  • Soybeans November 2024 up 3.25c/bu to 1178c/bu;
  • Winnipeg canola November 2024 down C$2.40/t to $649.10/t
  • MATIF rapeseed November 2024 up €4.75/t to €471.75/t
  • ASX May 2024 wheat up A$2.50/t to $346.50/t;
  • ASX January 2025 wheat down A$5/t to A$330/t
  • ASX May 2024 barley down A$3/t to $317/t;
  • ASX January 2025 barley down A$5/t to $330/t
  • AUD dollar up 33 points to US$0.6566.


Russia’s state weather forecaster said on Saturday it sees a threat of drought persisting in May in the eastern half of the Southern Federal District. 

According to World Weather Inc. heavy rains fell across areas of the US Corn Belt and Plains over the weekend. The weather pattern will remain wet over the next week to 10 days with localised flooding in some areas expecting to delay fieldwork. 

Stratégie Grains kept its 2024-25 EU rapeseed production unchanged at 18.1Mt (19.9Mt previous year), noting good crop conditions in large producing regions, with the year-on-year fall in production reflecting a lower area planted. 

Statistics Canada reports March canola crush, at 961,355t, is up from 897,790t in Feb and 922,944t in March 2023. It was the second highest monthly volume of the 2023-24 marketing year. 

Argentine Oilseed Crushers Union has announced an indefinite strike from 29 April, impacting workers at around 80pc of the nation’s oilseeds crush facilities. Workers at the National Agri-Food Health and Quality Service, a govt. agency, will also hold a 72-hour strike, effective from 29 April. Argentina’s Central Union has called for a general strike on 9 May to protest against the government’s proposed tax and labour reforms. 

According to Ukraine’s Agriculture Ministry total exports are down around 2pc year on year, including 15.55Mt wheat (+9pc) 2.2Mt barley (-11pc) and 22.5Mt corn (-7pc). Grain exports in April rose 68pc year on year, with wheat at 1.7Mt (+33pc), 210kt barley (+14pc) and 3.7Mt corn (+96pc).


Local wheat markets were firmer again yesterday to kick off the week. ASX June 24 wheat closed up A$1.50/t at $351.50/t. The dry May forecast is driving the cautious grower selling appetite for most areas outside of northern NSW & Qld. 

Inconsistencies in grading of sorghum loads impacted by the wet conditions has growers and farm industry groups calling for more technology to be used to take out the human element and bring more confidence in the grading system. Grain being graded as SORS and SORX as opposed to SOR2 is reportedly subjective between sites with the discount being significant.


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