US wheat futures pushed sharply higher in overnight trade. The strength in wheat assisted both corn and soybeans to close in the green.
The strength wasn’t reserved for just US wheat futures either, Paris milling wheat putting on over AUD$20 in the December slot by the close. Even London feed wheat futures were in on the move, gaining three pounds on the nearby contract.

The Black Sea region is again dominating the media this morning. Some say Putin is about the announce a referendum on the annexation of the Donbass region and claim it is now Russian and as so is protected by all the Russian military can offer. There was also talk of conscription in Russia to increase their forces. The odd part is all this was expected to be confirmed at a speech that was arranged that Putin never actually arrived at.
This news, or speculation of that news, pushed US stocks lower, there is a good chance some of that money was parked in grains.

The USDA weekly crop progress report was overlooked again this week as bigger stories dominate the media. Corn G/E fell another 1% to 41/11 = 52%. Soybean fell 1% to 46/9 = 55% G/E. Cotton was unchanged at just 33% G/E. 24% of the US sorghum crop is in the bin. Winter wheat sowing in the US moved on to 21% complete, with good progress in the HRWW belt and 94% of the spring wheat and barley crop is harvested.
The spike in US wheat futures rolled across to higher values for both red and white export wheat out of the Pacific Northwest. The red wheats rallied between AUD$20 and AUD$30 at the port, white wheat gaining around AUD$8.00, the weaker AUD helping the conversion.
Durum wheat did not follow the milling wheat higher across SE Saskatchewan, this has resulted in 1CWRS13.5 being C$4.50 above 1CWAD13 durum.