The Aussie dollar continued lower in overnight trade with the fall likely to counter the potential downside in wheat after a lower close for all three US wheat futures contracts last night.
The AUD slipped on the back of technical selling and the punters expecting to see Australia doing it a little tough in 2017 as Chinese demand for raw materials continues to decline. The RBA minutes will be released today, this may have some impact on local markets but the bigger picture continues to be what will unfold in the US markets next year.
Liquidity in grain and currency markets is expected to subside leading into the Christmas / New Year break.

Oilseed futures were lower on the back of good rainfall across Argentina and parts of SE and Central Brazil. Heavy rain fell across much of Mato Grosso in Brazil and The Pampas in Argentina also saw falls of around 25 – 50 mills.
Over in Europe there were some good falls of rain earlier in the last 30 days but rainfall has since been a little scarce and conditions across the French durum regions and much of Europe has become much drier.
There is speculation that the warmer than average autumn in Europe may be leaving the winter wheat crop less tolerant to a freeze. With little snow cover it will be interesting to see how the crop fends of a cold snap forecast for later this week.