The big mover last night was Chicago soybeans. The jump in beans dragged both Paris rapeseed futures and Winnipeg canola futures higher. The softer AUD should also help local values here today.
Chicago beans put on 25c/bu (AUD$13.00), Paris rapeseed for the May23 slot was up E4.25 per tonne and Winnipeg closed +C$19.30 in the May slot. Cash bids out of SE Saskatchewan followed futures higher, a May 23 lift ex farm price there averaged about C$797.42 per tonne, outer months are a few dollars under the nearby prompt pickup bid of C$805.02 per tonne.
Chicago soybeans found strength from dry weather in Argentina and some technical short covering trade. US weekly export volume was also towards the higher end of expectations. Loadings reported at 1.85mt, China taking the lion’s share of that volume.
Wet weather continues to slow the Brazilian soybean harvest, now pegged at 5% complete (11% LY). There were also hints of possible production cuts in Rio Grande do Sul due to the continued wet weather.
Wheat futures at Chicago were higher, dragged along by the bean market and some spread trade. Fundamental support came from good weekly US wheat export volume, 446kt, there were multiple buyers, but Japan was at the top of the list by volume.

Algeria is in for 50kt of durum wheat, we should see the results, or at least some speculative results, from that trade on Thursday or Friday. Algeria run private tenders; the results are not made public but there are usually some close trade estimates not long after the tender closes.
China auctioned off about 140k of state-owned wheat to help reduce domestic prices. Recent auctions have all been met well, placing 100% of offered.