Prices 14/11/16

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Choppy thin trade saw some markets give back gains while others continued to strengthen. The US media seem too involved with the Trump presidency than anything else at present, fundamental news is a little harder to find in the US even though it was a WASDE week.
Canada had the day off for Remembrance Day activities so no new data from there for canola. Paris rapeseed futures did follow the US soybean market lower though so a weaker start for canola on Monday is odds on.
The weaker Aussie dollar should go a long way to countering any potential downside though unless the trade continue to strip out basis to help pay for their oil premiums.

Russia’s farming giant Black Earth Farming who crop around 229kha in central Russia have announced that revenue will be back even though they stripped a new record per ha yield. Harvest rain has resulted in up to half of the companies wheat to be classified as feed grade. The central region produces around 20% of the total Russian crop and up to 40% of the region was deemed unfit for human consumption. Great just what we need another 5mt of feed wheat in the world. Feed values slumped on the news and punters ended up bidding only US$75 / tonne for their product.

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