21/10/22 Prices

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The sentiment in wheat changed overnight, more punters now assuming that Odesa will be closed from November and the export corridor deal will not be extended, if it even makes it to the expiry date.
In the US wheat found support from strength in corn and soybean futures, export sales volume for US wheat remains low.

Rosario Grain Exchange reduced its estimate of the Argentine wheat crop to 15mt. Parts of Cordoba have seen 25 – 30mm over the last couple of weeks, probably a case of too little too late for the winter crop.

Wheat import tenders from both Pakistan and Saudi Arabia will offer some guidance to international values over the next couple of week. Pakistan are in for 500kt and S.Arabia are in for 540kt.  China are going to auction off another 40kt of wheat out of reserves.
Britain sanctions Iran for selling drones to Russia, I don’t know who is going to sign that order though, Britain seems to be having a few management issues.

Rumours of China buying up big on US soybeans helped the oilseed markets higher. The upside in Chicago beans spilt over into the Paris rapeseed and the ICE canola futures contracts.
The AUD spiked briefly mid-session before a sell off towards the close left it relatively flat but a little firmer.

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