Canadian and US cash grain values were mixed overnight.
US soybeans basis was flat to firmer with cash bids out of the Gulf around US$540 per tonne FOB. Cash bids out of mid Arkansas for old crop #2 soybeans was around US$527, with a discount of US$72 for the new crop.
Further north at Fargo North Dakota we see old crop canola bid at US$640 delivered local elevator. This compares to the cash bid ex farm SW Saskatchewan of around C$770 for April / May pickup. Saskatchewan basis to FOB has dropped a little as we move into spring.

Cash wheat out of the Pacific Northwest into Asian markets saw HRWW down the most, shedding around US$2.60 per tonne while both spring wheat and white wheat were flat. White wheat with 11.5% protein was bid at US$7.00/bu which on the back of an envelope using Japan as a delivery destination would be equivalent to roughly AUD$305 delivered Newcastle. Some AUD$25 more than current cash track bids at the port but comparable to direct port deliveries bypassing up country costs here.

Old crop sorghum out of the Gulf was steady at US$356 FOB, new crop was a little lower out of the US at US$350 FOB. This is comparable to a Newcastle port price of roughly AUD$470. Argentina was offering new crop sorghum at US$230 FOB. If using China as a home this would equate to about AUD$318 delivered port Newcastle. This may indicate that track at anything less than AUD$300 is below export parity.