A fairly uneventful night at Chicago as the trade try to make something out of the USDA crop progress report. Wheat did find support on technical trade and fundamental support from higher values into Egypt. Technically though wheat may struggle to push much higher at Chicago. The December contract is over bought and without unexpected export demand from the US wheat is probably more likely to test the downside in the short term than further upside.
The Egyptian business was covered with mostly Black Sea wheat but there was also a cargo of French wheat. In all 405kt was booked at higher numbers than the previous tender. The French wheat offered by Glencore was priced at US$210.86 + US$20.25 freight equating to a value of US$231.11.
Japan was also in the market for 115,835 tonnes of wheat from the US, Canada and Australia. The Aussie portion being 30kt of ASW from WA due to load Nov / Dec.

Canadian farmers are starting to see the impact of a carbon tax as they dry grain in an already tough season. In one example the carbon tax has equated to over 18% of the value of the drying invoice. The salt in the wound is the carbon tax also attracts a GST tax in Canada, in theory taxing a tax.