07/09/21

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Labor day weekend in the US and Canada sees no data from N.America to fuel the market this morning.

Further to the comments on low grade French durum wheat yesterday we should also be aware that their milling wheat is not breaking any quality records either. Last year 98% of the French crop had a test weight over 76kg/hl, this year that percentage is just 39%. Protein levels are not too bad with 94% of the crop exceeding 11% and 77% exceeding 11.5%.
The other major defining property of milling wheat is of course the falling number, or falling income test as some like to call it. Just over half the crop is exceeding 240 seconds while as much as 28% of their milling wheat is below 220 seconds, basically feed wheat. With the last of the northern French crop still to come in and samples to be tested not many are expecting to see these percentages increase.

Ukraine oilseed yields are excellent. Rapeseed harvest there is almost complete, average yields are coming in around 2.7t/ha. Ukraine should produce around 3mt of rape this year. This will help fill the short fall in the EU but will not counter the massive decline in Canadian production. Sunflower harvest in Ukraine is just kicking off and early yields look promising at 2t/ha.

Rain continued to hamper the Canadian harvest across parts of N.Saskatchewan. The SE durum belt has seen better weather for harvest.

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