The AUD is a little higher against the USD today. Soft red winter wheat and hard red winter wheat futures at Chicago shed a few cents per bushel. SRW futures were back about -AUD$3.16 while the move in the AUD is worth about -AUD$0.95 per tonne. US Pacific Northwest white wheat values were firmer, countering the move in the dollar but not increasing the FOB price of white wheat there by a great deal.
Basis for local wheat to SRWW at Chicago has fallen from negative 5c late last week to negative 30c/bu, one gets the feeling that the local market should have enough up their sleeve to absorb some of last night’s weakness in US wheat futures if they want to.
International feed wheat values support current values local SFW1. Milling wheat out of the PNW into the Asian markets is still struggling to compete with Australian prices.
Paris rapeseed futures are down E1.75 in the May slot and E1.50 in the August slot. Not a lot but taking the variation of the value of the AUD vs the Euro into account the move equates to a plausible downside of about AUD$3.00 today if basis is unchanged. Trade interest in canola here has waned a little in recent days as the base price moved higher.

More Aussie feed wheat has been booked into the Asian market. Thailand was said to have picked up 60kt for July arrival. The price was rumoured to be about US$340 C&F. This is about the same value as the last sale into SE Asia.
Argentina, Cordoba saw some storms yesterday producing around 15-30mm across the south. There were also some decent falls across the eastern Pampas region of Buenos Ares. High temperatures remain a big problem though, locations in the north seeing 40+ again, with little respite this week.