US markets were closed overnight for the Independence Day holiday. European markets closed higher, while Australia’s cash markets eased following the latest well-timed rain for the Western Australian crop.
- MATIF wheat September contract up €1 to $179.50 per tonne;
- MATIF rapeseed August contract up €0.50 to $364.75/t;
- Winnipeg canola November contract down C$1.70 to $448.70/t;
- AUD weaker at US$0.702;
- CAD stronger at $0.766;
- EUR steady at $1.128.
Rain in Western Australia has exceeded forecasts, with more than 30 millimetres falling across much of the central wheatbelt, and the lower Great Southern region on track to get more than 25mm from the front. Forecasts remain unchanged for eastern states, with little chance of rain across northern New South Wales and southern Queensland, particularly into the Darling Downs.
Source: Lachstock Consulting