Markets mostly firmed. US currency weakened.

• Chicago wheat December contract up US0.5cents per bushel to 608c;
• Kansas wheat December contract up 4c/bu to 557c;
• Minneapolis wheat December contract down 3.75c/bu to 552.25c;
• MATIF wheat December contract up €0.25/t to €205.25;
• Corn December contract up 3.5c/bu to 401c;
• Soybeans January contract up 12c/bu to 1064.25c;
• Winnipeg canola January up C$5.60/t to $540.50;
• MATIF rapeseed February contract up €6.25/t to €389.25;
• Brent crude January contract up US$0.74 per barrel to $39.71;
• Dow Jones index up 555 points to 27,480;
• AUD firmer at $0.715;
• CAD firmer at $1.316;
• EUR firmer at $1.171.

International

• US elections are underway, the first results should start trickling through later this morning though there’s still no indication of a clear front runner and the final tally may take time to come through
• Brazilian soybean plantings were pegged at 42pc complete to start the week, with rapid progress noted in recent days
• Chinese restrictions on Australian exports of wine, barley, lobster, and other commodities are making global news with worries about the impact there as the ongoing trade dispute escalates
• Black Sea winter cereals are nearly done with planting. Ukraine planting advanced to some 92pc+ complete in govt figures the other day, but the ongoing weather concerns remain.  The weather maps are calling for a fairly widespread 20+ mm event into next week though, boosting some hopes. Scattered precipitation in recent weeks hasn’t hurt
• No flash sales today in the US. There’s been more talk about the bean program to Brazil, thinking that there’s 100,000t or so to go (including the current loading). Though it’s a drop in the bucket compared with other demand it is exciting in an otherwise quiet market
• New crop acreage ideas are being bandied about but the ongoing question is what markets will do into the pre-planting window in spring.  Most ideas are trending towards lower spring wheat, lower corn, and higher beans – but it’s all in a state of flux

Australia

• Harvest was delayed through WA in southern regions after wide spread 15-30mm was received through Albany/Esperance zone while on the other side of the country’s east coast perfect conditions prevailed through NSW. Harvest is ramping up there and moving more into the central NSW region
• Cash boards were slightly softer along the east coast on wheat and barley as headers roll and grain deliveries hit the bins
• Contract bids and trade markets were also softer by $4-5/t on wheat. Canola had another down day with east coast bids down $5-6/t
• It was Twilight Payment that took out the Melbourne Cup at a nice $27, followed by the favourite Tiger Moth in second place, no winners here at the LSC team.