Paris rapeseed futures were crushed in overnight trade. The Feb 2025 slot closed at €456, down €17.75 per tonne. At today’s exchange rate this is equal to AUD$29.94 / tonne. This move was against the higher close in Chicago soybean futures. The Canadian market was closed due to a public holiday. The weaker AUD worked in favour of the exchange but it can’t buffer such a huge loss as what we’ve seen on the Paris contract overnight.
US wheat futures were generally flat, although the spring wheat contract at Minneapolis is still digesting the potential size of their spring wheat crop. Minneapolis closed 7c/bu lower. It’s having trouble digesting it’s own good season but it appears it hasn’t had much of a look over it’s border to the north though. What the US is gaining, there’s a good chance that the Canadians are losing.
Paris milling wheat futures were lower, falling €2.75 in the December slot. The move probably viewed to be against the current fundamentals reducing the French soft wheat crop. More rain in France, raising the possibility of sprouting for the 40-50% of wheat left to be harvested.

The US crop progress report was out after the close. Corn is pegged at 88% silking, 46% dough stage and 7% dented. Week on week the national good to excellent rating shed 1pt, falling to 67% G/E, still 10% better than this time last year. This may also weigh a little on international sorghum values. The US sorghum crop is 63% in head, 25% colouring and is rated at 47% G/E, that’s back from 55% last week, that’s a big week on week decline and should counter the negativity spilling over from the corn market.
US spring wheat was rated at 74% G/E, unchanged from last week. The harvest pace is a little slower than the 5 year average, 6% done vs 10% avg. North Dakota kicking the program off this week. US winter wheat harvest is pegged at 88% complete, just the very northern and PNW slowing the completion.
Scatters showers and storms across the US spring wheat belt may continue to disrupt harvest operations across the Dakota’s this week.