There’s not a lot of fundamental news in the grains market this morning. Overnight the USDA weekly crop progress report was released. Corn harvest in the states is progressing a little quicker than the five year average, now 59% complete versus the 54% average. Conditions over the last week...

StatsCanada amended their controversial average yield from their last report. The new estimate of just 23.8bu/ac (1.6t/ha) is now in line with most industry estimates. It also means that Canada may well produce a sub 4mt durum crop in 2023. Canadian durum quality has been good though, over half...

Both Winnipeg canola and Paris rapeseed were hit pretty hard last night. The weaker AUD against the Euro will limit losses on the conversion somewhat but there is still an equivalent downside of just over AUD$8.00 potentially. World vegeoil prices were lower, dragging oilseeds like canola and rapeseed lower,...

Russia has announced a trade deal with China for the supply of corn and agricultural products worth US$26bn over the next 12 years. There’s not much detail to this announcement, but it doesn’t mention a phyto deal for wheat, so one could assume that for now Russian wheat remains...

The increase in the value of the AUD against the Euro will somewhat counter any increase in Paris rapeseed futures from last night. The Feb24 slot at Paris closed E1.25 higher. Once the impact of the firmer dollar is considered the potential gain here in domestic prices is closer...

Cash prices for most grains around the world were lower last night. There were a few exceptions, that being good quality, high protein spring wheat out of the US Pacific Northwest. Both US and Canadian values for spring wheat 13.5%+ crept a few dollars higher. Durum wheat didn’t enjoy...

Durum prices ex farm SE Saskatchewan were a little lower overnight. Slipping around C$7.11 for a December lift. The average price ex farm SE Saskatchewan according to PDQ is about C$484.65 (AUD$563.46). Compared to French, Russian or Turkish durum, Canadian durum is still too expensive to work into any...

Chickpea values at Delhi continue to push higher on the back of lower production estimates for most summer pulse crops there. Mung bean area is expected to be back as much as 60% compared to last year. This is putting upward pressure on Indian chickpea values right at sowing...

Egypt picked up 480kt of Russian wheat earlier in the week at US$265. This was a private sale, not done by public tender. There are now reports that Egypt will again return to the market for more wheat tomorrow, this time by public tender. Year on year Egypt increased...

Some private estimates for the Argentine wheat crop are now coming in as low as 15mt. Conditions in Argentina have deteriorated further in the last month of so, soil now so dry in places it’s preventing the continuation of the corn plant. A look at World Ag Weather.com shows...