With a USDA WASDE report out tonight the markets continued to see long positions liquidated putting pressure on US grain futures overnight. Wheat, corn and soybeans all closed lower. Higher grade wheat was hit hardest as it had been the most heavily speculated in recent months.

The weaker futures numbers rolled over to lower values in the cash market. Canadian with spring wheat, durum and canola all sharply lower.
Saskatchewan Ag was recommending producers go at least 50% sold at current durum values. No doubt a few took them up on this advice and cash bids for durum across SE Sask were sharply lower, falling C$40.93 for a Dec21 lift.
The cash bid there for 1CWAD13 is now around C$690.05 ex farm. If this product was heading to Japan from the PNW it would equate to an equivalent Aussie price of roughly AUD$780 ex farm LPP. If it was heading to Europe from the east coast of the USA it would equate to an ex farm LPP price of something close to AUD$770.
PDQ also reported sharply lower canola prices, the December slot shedding some C$23.24 per tonne to average an ex farm SE Sask price of about C$830.93 per tonne.
There is also a large amount of outside pressure on markets as the punters wait and see what the 6 point COVID plan is that Biden is announcing this morning, 8am our time. USDA today announced a US$700m COVID assistance packed for small ag businesses.