US grain futures gave back a little of what they picked up late last week. The punters were pegging corn harvest at 32% but after the close the weekly crop progress report shows it to be closer to 28% (47%avg). With the good to excellent rating in corn jumping 1% this should counter the slower harvest pace. The weather in the US this week should almost be perfect for harvest with little rain expected before storms cross the plains on Sunday.
Profit taking in the soybean and wheat pits created small losses for the session. Slow US exports and large wheat crops around the globe continue to stifle world wheat prices.

Chickpea futures at the NCDEX were around $10 / tonne firmer overnight. Exports from Australia are steady with Graincorp reporting 90kt of stem bookings moving from CQLD ports during October. There is roughly 94kt booked for the same two ports in November. Prices out of the CQLD ports are now only paying a $10 premium over Brisbane port. This would indicate that early contracts may have been met.

The international durum market continues to report unexpected sales and better quality from Canada. Iran sold 31kt of high quality durum to Italy over the weekend. In Canada we see durum generally coming in as the number one grade. Prices for Canadian durum at the farm remain relatively unchanged and are generally just tracking fluctuations in the CAD.