A slightly firmer USD, slightly firmer US futures for corn, soybeans and both soft red and hard red winter wheat, will probably see the local punters keep prices flat to maybe a smidge firmer today. Spring wheat futures at Minneapolis were a smidge lower while cash bids for spring wheat at MGEX were 8.75c/bu higher. Cash bids for Canadian spring wheat was a tough lower, in line with MGEX moves. Still in Canada we see bids for durum out of SE Sask were flat, down just 9c/tonne.
The sharp move higher in ICE canola futures was reflected in cash bids across SE Sask with canola prices there jumping C$8.20 / tonne for a Jan 22 lift. At Paris we see rapeseed a touch higher on the nearby, up just €1.25 for the Nov slot, Feb22 actually fell away by the same value.

The weekly USDA crop progress report showed 97% of the corn is now mature and about 52% in the bin. The corn condition rating was left unchanged at 60% G/E. Soybeans were pegged at 60% harvested. Cotton, 86% boll opening and 28% picked, and rated 64% G/E, unchanged from last week. Winter wheat sowing is progressing well with 70% in the ground. This is in line with the 5 year average of 71%.

US wheat futures done well to hang on given the poor weekly US export inspections number of just 140kt. US wheat exports sit at 9.33mt compared to this time last year at 10.69mt. Not a huge issue given the smaller US wheat crop of 46.18mt versus last year’s crop of 49.69mt.
US weekly corn exports were good at 976kt. Mexico continues to be a key buyer of US corn followed by Japan and China.