US markets basically took a breather overnight, adjusting positions and squaring after the previous sessions rally.

There’s not a lot driving international markets at present, it is the middle of winter after all. Production data for old crops is pretty much a known unless we see the USDA continue to adjust historical numbers like they have with S.American soybeans.
France did come out with some interesting rapeseed numbers overnight. Dry weather continued to hinder farmers as they sowed winter rape. Around 1.34mha is expected to have been sown. Although this is historically a low number it’s up over 100kha on the December forecast for France. Being an autumn sown crop that over winters there is still potential for the French farmer to plough in any failed sowings and go in with a spring crop if the outlook is better for something else.
This increase in area might help to explain much of the recent weakness in Paris futures for rapeseed. It is also thought that the increase in rapeseed area came at the expense of winter wheat.
Probably the best news for us out of the report came from a greatly reduced durum area. Down 11% year on year to just 308kha. It will be interesting to see if the durum area increases further on the back of spring plantings.

Canadian durum values remain relatively unchanged at C$242 ex farm SW Saskatchewan for their new crop.