It’s official, Bunge and Viterra (Glencore Grain) will merge. Here’s the press release, I’ll leave it to you to read it there instead of boring you with the details here. https://www.glencore.com/media-and-insights/news/viterra-to-merge-with-bunge.

In overnight futures Chicago soybeans were the clear winner, dragging both Winnipeg canola and Paris rapeseed futures higher. The Paris moves reflect a possible day to day increase of AUD$14.00 for old crop canola here, taking currency and a flat basis into account. The move in new crop rapeseed futures reflects a move closer to AUD$12 per tonne. The rally in Chicago soybean futures was primarily on the back of a decreasing crop rating in this week’s USDA crop progress report, so possibly a little US centric. The decrease in G/E rating caught some by surprise, triggering technical selling at the CME.
The huge Brazilian crop continues to be an anchor to the oilseed market. Last night CONAB again increased its estimate for the Brazilian crop to 155.7mt, a year-on-year increase of 24%.
Brazil will not only be a thorn in the side of the US when it comes to marketing soybeans in 2023, it will also give them a pain in the stomach when it comes to marketing corn. Brazil is expected to harvest 125.7mt of corn this year, up 11.1% year on year.

US wheat futures were mixed, crop ratings capped moves while crop walk results in the major soft red winter wheat counties in the central corn belt indicate that yields there should be average or above average. A much better result that what is being experienced in the hard red winter wheat belt.
Confirmation of El Nino returning may see conditions improve in Argentina, ending years of drought for many.