Wheat and soybean futures at Chicago saw some profit taking after recent moves higher. Chicago corn fumbled around, influenced by weakness in both the bean and wheat pits but managed to close the day a smidge lower nearby but unchanged to a tad higher in the outer months. There was also some weight on US corn values with some punters increasing their expected US acres for new crop corn in the spring.
Sharply lower soybeans at Chicago weighed on the oilseed markets, signalling a lower close for both Winnipeg canola and Paris rapeseed futures. A weaker USD didn’t help non US market conversions either, weighing on prices further.

International cash values were generally lower once converted to AUD per tonne values relevant to our location. US wheat conversions out of the Pacific Northwest were back $1.00 to $4.00. A combination of weaker US values combined with the stronger AUD. The move in the AUD is worth roughly -AUD$1.44 / tonne. Black Sea and Argie values held on the best, gaining a little even with the stronger AUD working against the conversion. French FOB values followed the US market lower. In AUD per tonne the day to day comparison shed roughly AUD$5.24 / tonne. Paris milling wheat futures were back €4.00 /tonne nearby at the spot rate four euro is roughly AUD$6.62/t.

US sorghum values out of the Gulf of Mexico were a smidge firmer in USD, but the stronger AUD made short work of the small move higher. Resulting in very small gains compared to yesterday’s conversions. Hopefully enough to see export values flat here in NNSW today. C&F China sorghum values were also influenced by the stronger AUD. As per US Gulf values C&F China values were flat to a smidge lower once converted. US and Ukraine cash corn conversions were generally lower. The move lower in a raft of products that help indicate an international sorghum price were generally a smidge lower overnight.