Futures markets in the USA were generally softer overnight with corn the only grain managing to close in the black but a 1c/bu rally isn’t exactly the kind of thing we’ll be telling our grandkids about is it.
The USDA will produce their Outlook report this week. This has seen a few of the punters squaring up and limiting exposure to such an important and often market moving report for US markets.

PDQ reports average cash bids for 1CWAD 13% in SW Saskatchewan a little lower this week with yesterday’s numbers coming in at C$263.35 for spot delivery. This is a fall of around C$3.00 for the week. Still no public numbers for the latest Algerian / Libyan business.

Russia has stated they expected to export around 1mt less wheat than they had projected for this year. The higher rubble is expected to prune sales in the last quarter of 2017 financial year.
The NAB have projected a 12% increase in value of the Australia wheat price by the end of the year but go on to state that they expect this increase to come in the form of lower currency while base rates for global wheat remain generally unchanged.