A slightly firmer AUD against most of our major trading partners combined with a weaker close across most US grain futures may stifle any attempt local values make to move higher today. US markets were generally weaker while European markets did tend to close higher.
In the case of canola at Winnipeg and rapeseed at Paris these two markets were polar opposites in overnight trade and may leave some of our local merchants wondering which way to turn. The Feb 17 contract at Paris was up €5.00 / tonne by the close while ICE futures were lower by C$3.70 / tonne. Rapeseed futures into China were generally unchanged by the close.

Cash bids for durum wheat on farm Saskatchewan were steady at roughly C$305 / tonne for good quality. Desi chickpeas ex farm Saskatchewan were around C$770 / tonne, this price has not been as volatile as the Aussie price of late which leads me to think that stocks in Canada are probably somewhat depleted or unavailable at present. Bids for durum of good quality ex farm N.Dakota were slightly firmer than Canadian values and are well supported by the domestic US market.
Canadian durum production was increased in the latest official estimates to 7.762mt, this is more than 2mt higher than the 2015-16 crop and goes a long way to explaining why domestic values here struggle to achieve the premium that might otherwise exist.