Hello Rishi Sunak, the Steven Bradbury of UK politics, anyone got a stopwatch.

Saudi Arabia picked up 566kt of 12.5% milling wheat at tender last night at an estimated average value of US$384.74 for March / April 2023.
Turkey was said to have picked up 495kt of wheat on Friday at US$337.05 for 245kt and US$341.65 for 250kt.
Algeria announced a tender for a minimum of 50kt of milling wheat. Algeria generally do not announce the results of their tender, tonnage or price, but they do generally buy much more than the 50kt minimum.
On the back of an envelope the S.Arabia milling wheat price is roughly equivalent to AUD$480 XF LPP. Currently we see H2 wheat priced at roughly AUD$447 ex farm, so not a country mile apart given the huge variation we’ve been experiencing in not only the value of the AUD but execution costs along the supply chain both locally and internationally.
Argentina has been delt another blow. Compounding the impact of the drought a late frost has decimated wheat production in some locations. The dry weather had the crop maturing quickly, placing the frost at exactly the worse time. Temperatures were reported to be lowest across the Pampas and parts of Santa Fe. Rain fell in some locations across Cordoba, too little too late for wheat but at least preventing frost damage, the cloud cover keeping temperatures above freezing there.
Chinese stocks trading in the US were smashed, at one stage many units were back 30% or more but generally closed the session about 15% lower. The decline said to have been a response to Chinese intervention in those entities listed, making them “uninvestable” due to lack of transparency.