The Aussie dollar is not working with us at the moment and according to some commentators we may well see it go much higher yet. Over the last couple of days the rise of the AUD had been contributed to a weaker USD, not much we can do about that, but the last RBA papers tended to lean towards the Australian economy heading in the right direction too. They have been trying to find a reason to lift interest rates for a few months now let’s hope this is not the catalyst they have fabricated.

In the grain game we see US futures once again being dominated by the strength in spring wheat. The weather map continues to favour the central and southern US plains while the northern plains where spring wheat and durum is grown is likely to remain hot and dry for another week or two. With spring wheat harvest about two weeks away rain now will do little.

Egypt picked up 300kt of wheat overnight from Russia (120kt), Romania (120kt) and France (60kt). The Russian sale was expected to have been done at US$219.60 C&F. French wheat was a little higher at US$220.85 C&F, still heading in the right direction.
PDQ show Saskatchewan durum values a little lower as currency comes into play.