The Aussie dollar pushed lower again in overnight trade with the big end of town happy to short the currency against other majors like the USD, YEN and Sterling.
The AUD has shed 11% since January and falling metal prices have many of the punters thinking that the next move the RBA will do with interest rates is not up as their sentiment suggest but instead down.
The decline in housing prices and let me vouch for this as a retailer, the lack of sentiment leading up to the normally busy last quarter will also have a bearish effect on rates going forward.

The weaker AUD had more of an impact on converted grain prices than US futures last night. Looking at nearby Chicago soft wheat for instance the move in the dollar was worth just over $3.00 / tonne while the move in futures was worth less that 20c/t. Canola was a similar story with the drop against the CAD being worth roughly +$5.30 while the drop in futures was equivalent to -$3.40, resulting in a potential net improvement.

FOB offer values of Aussie wheat from the west coast were down a fraction but the move in the AUD would see prices for WA grain on the east coast of Australia remain relatively unchanged.