It was a no new news night, with nothing to feed the market it followed the path of least resistance and at the moment that is definitely lower. In the US corn futures were lower on the back of better harvest weather before a line of storms develop along the Mississippi on Sunday and track east across much of the central and eastern corn belt.
US and Chinese soybean futures pushed lower, the nearby contract in China setting a new low. It’s the same story as corn, harvest pressure is beating prices lower.
In the case of wheat it’s surprising it’s not being clubbed lower and lower. With falls of only a few cents a bushel we should probably be considering ourselves lucky. Huge world production and ending stocks and good sowing weather for winter wheat. I hate to say it but from a global perspective the picture is just a little too rosy for production in 2018 at present.

Egypt has had a lawsuit filed against them in regards to costs incurred with a rejected shipment of wheat. Claims to the value of US$1.2 are being made in the Egyptian courts around a shipment of Russian wheat earlier this year……..good luck with that one.

In India we see December chickpea futures slip around AU$5.00 / tonne to a roughly converted price of about AU$860 Narrabri packer.