28/9/21 Prices

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Stronger corn futures in the US underpinned the speculative market there last night. Wheat futures at Chicago closed either side of unchanged while spring wheat futures at the MGEX closed higher across all months.
Cash markets in SE Saskatchewan were mixed. Spring wheat followed the lead in higher grade wheat futures in the US and closed C$2.15 higher for a December lift at C$391.82 ex farm. Durum, 1CWAD13, was a smidge lower shedding C$0.36c/t for a December lift.

Canola out of SE Saskatchewan was also a couple of dollars lower closing at C$862.67/t ex farm for the December slot.
Rapeseed FOB Rouen France was a little softer at US$730, still a number that would convert to just under AUD$1000 ex farm LPP if moving into China. Canola priced into China saw Canadian C&F offers come in close to US$809 over US$50 above current C&F offers from Australia and roughly US$40 above where Black Sea rapeseed could in theory land at China for.

Back in the USA we see the weekly crop progress report pegging corn harvest at 18% complete with no change in the crop condition rating. Soybeans were estimated at 16% harvested, also no change in the condition rating. 11% of the cotton crop is picked and the condition rating improved 1% in the G/E range week on week, now at 65%. Winter wheat sowing in the states is at 34% complete. Kansas 27% sown, Texas 37% sown, Oklahoma 28% sown and Nebraska at 61% complete. Winter wheat emergence is at 9% up and away nationally.

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