Russian wheat harvest is progressing well now with around 2.8mha more cut than this time last year. Overall production is up around 8% and still points towards a record wheat crop out of the Black Sea region for 2016. Quality is expected to be mixed with higher grades in the earlier crop and then getting worse in the later harvested wheat.

In US futures outside markets played a major role overnight with weaker equities and oil rolling over into grains. The slightly higher US dollar didn’t help their cause. Corn harvest is a little stop start in the central US corn belt as storms pop up across the plains. The weather is helping soybeans finish though.
Wheat continues to find pressure from the huge stocks around the world. Egypt cancelled a tender this week when only Russia and Ukraine offered. I thought the US was going to take up the slack left by poorer EU crops this year.
Spring wheat futures came under further pressure when StatsCanada increased the projected Canadian production by 10.5% over last year and now calling the 2016 crop 30.5mt. This is their second largest wheat crop in 25 years.

US durum harvest is now into North Dakota. Protein, moisture, test weight and vitreous all appear to be excellent. But there are some reports of head scab filtering through.