There is talk the Canadian government may block the planned merger between grain giants Bunge and Viterra (Glencore). The combined entity would be worth an estimated US$34Bn and would create an entity rivaling ADM and Cargill in the region. Both Viterra and Bunge hold rail and port facilities. The main issues that could arise is port and rail access and how access to these facilities for other exporters could be limited.

Overnight markets were generally dead. Small moves in US wheat, corn and soybean futures were noted as the USDA ready to announced their quarterly grain stocks estimates. EU markets were similarly unchanged. Paris rapeseed flat in the Nov23 slot and up a quarter of a euro in the Feb24 slot. At Winnipeg canola futures bounced a little, the Jan24 slot up C$2.60 / tonne. Cash bids across SE Saskatchewan were also higher for canola, a Dec23 lift gaining C$2.63, inline with the move higher in futures.
Durum values across SE Saskatchewan were flat. This is in stark contrast to French values out of Port La Nouvelle which, in Aussie dollar terms, shed an equivalent amount of $24.45 per tonne, that’s even considering the weaker AUD. The move in French values was thought to be on the back of higher than expected production numbers out of Italy and the recent increase in EU imports covering short term demand. If the Italian crop is 3.77mt as the Italian government official data has indicated, a little dubious given their volume of import demand recently, than it may temper prices in the short term.
Turkey pulled up durum wheat sales at 800kt, this includes all recent sales, which some punters are suggesting the Turkish government is now making them harder to execute.
There are rumours that Egypt is in private talks with Russia, discussing the potential purchase up to 1mt of wheat.