US soybean futures took a hit last night as the punters walked away from them on the back of improved crop ratings. Chicago futures shed 35c a bushel (-$16) on the nearby contract closing the session at 959.5c/bu.
The decline in soybean values had the usual knock on effect to canola and rapeseed futures. Winnipeg canola shed C$10.20 on the nearby contract and Paris rapeseed lost €5.50 to close out at €366.25 / tonne.

US wheat futures could not shrug off the impact the lower soybean values had on the market and succumb to selling. Fundamentals for wheat in the US were supportive to prices with the US spring wheat crop now seen as bad as the 1994 crop.

PDQ pegged average cash values for durum in SW Saskatchewan at C$301.62 for November delivery, an increase of C$2.21 overnight. Cash bids for #1 durum in the US spring wheat plains are firm at US$9.00 / bushel, about US$330 / tonne.
The Canadian price of C$300 would work back to a NTP Newcastle price comparable to roughly AUD$380 / tonne. Yesterday we saw old crop DR1 bid at only AUD$350 NTP NTL.