There was much more green on the screen this morning. US grain futures posted gains for all the major commodities, wheat, corn and soybean all closing higher and dragging other futures markets higher in the process. Both Winnipeg canola futures and Paris rapeseed futures moved higher, as did Paris corn and London feed wheat. The only contract that closed a little mixed was nearby March Paris milling wheat futures, down €4.25 / tonne, May was also lower by €0.25 / tonne. With the March slot getting ready to roll off the board we should be taking more interest in the May, or in the case of the new crop, the December contracts at Paris and Chicago, Paris Dec closed €0.50 / tonne higher.
International cash markets responded likewise, generally higher. The AUD pushed higher through the middle of the session only to be sold lower later, closing pretty much where it had started on the day. Converting US Pacific Northwest FOB values to a delivered Asian consumer price and then using that value to determine an Aussie equivalent price, indicates potential rises in all three major wheat grades out of the PNW compared to the same conversion yesterday. US hard red winter wheat out of the PNW made the best gains, up roughly AUD$6.44 / tonne compared to yesterday. Spring wheat values were up about AUD$3.55 / tonne, while white wheat was more subdued, closing up AUD$2.38 / tonne compared to yesterdays conversion.
Black Sea conversions were generally flat to lower. Ukraine FOB values falling day to day while Russian values were generally flat. French values FOB major ports were lower, following nearby Paris futures. While the Argie milling wheat conversion was around AUD$4.80 / tonne higher compared to yesterday.

Much of central and western Kansas remains dry and the 7 days forecast is predicting this isn’t about to change. The 14 day anomaly is indicating as little as 20% to 40% of normal precipitation has fallen across the region. Agronomist also recommend that producers should start to check fields across northern Kansas, and parts of Nebraska and S.Dakota for signs of winter kill in winter wheat fields now temperatures are warming up and snow is melting.