Prices 18/5/16

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Strength in the AUD against most major currencies will take a bit of the cream off the move higher in US wheat, corn and soybean futures but generally we should see local prices edge higher again today.
Canola is likely to remain flat as ICE futures only had minimal move higher that currency has countered by more than 100%.

Chickpeas just keep going up. NCDEX futures for August closed above 6000r/q, to you and me that equates to more than $1108 delivered packer equivalent, not bad considering we are in the middle of their harvest. Indian demand is high and at the moment supply is not keeping up. With imports their only option to fill the gap Indian cash values are rising quickly to import parity again.

Black Sea states appear to be having a bit of a dream run this year. Good rainfall across the winter wheat regions of the FSU will see those crops reach close to maximum potential in the coming months. In the spring wheat districts of the west rainfall has withdrawn to allow planting to progress quickly while central and eastern districts saw some storms slow planting but generally keep conditions almost ideal for sowing and crop emergence.

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