Algeria picked up 560kt of optional origin wheat this week. The price is estimated at US$231 – US$232 per tonne C&F.
Speculation has supply still coming from the EU but not 100% from France as usual thanks to a smaller French crop in 2020. The punters are backing the Baltic ports will supply. The tough season for many EU nations, particularly France, saw yields reduced but French authorities are now seeing an increase in quality for the wheat that is coming off.
Paris milling wheat futures finished mixed on the news, trading higher on the demand news from Algeria and the smaller French crop but also finding a ceiling due to good wheat supplies from the Black Sea region and French quality. December milling wheat futures closed up one euro at E181.75 / tonne.

In the US cash bids for export quality club white wheat out of the Pacific North West was unchanged at an average value of US$5.62 per bushel. This would be comparable to a delivered Newcastle port value of about AUD$280 – $285 for APW1. Yesterday cash bids on the Newcastle track where about $278 port less rail (site dependant), indicating current cash bids are about on par with US offers into the Asian market. Hard red winter wheat out of the PNW was paying about a AUD$25 premium over club wheat for a December delivery and DNS wheat about a AUD$43 premium. Locally we continue to see minimal spread premiums for APH & H2 on new crop forward contracts.
1CWAD13 durum out of SW Sask saw an ex farm average price of C$270.25 for a December lift, spring wheat C$1.26 firmer, canola flat.