A reduction in the value of the AUD against many of our major trading countries is beneficial to price conversions here today.
The AUD slipped 0.55% against the USD and 0.43% against the Indian Rupee. Delhi chickpea values improved for the second day in a row, up roughly 34Rs/Q. Taking the move in the AUD/Rs into account and comparing last night’s close to the previous sessions conversion, the net result is an increase in the conversion of about AUD$10.20 / tonne. This takes the week on week change in the conversion to about +AUD$28.54 / tonne.
The Indian market continues to trade above their Minimum Support Price (MSP). A further drop in Indian values may greatly reduce the sown area of Indian chickpeas, reducing supply in April next year and encouraging more imports.

World cash wheat values were mixed. The weaker AUD helping many conversions to look more stable than FOB origin values may have otherwise indicated. Black Sea values were generally lower. 11.5% milling wheat out of Russia slipped. Taking the AUD into consideration shows a day to day change in the conversion of roughly +AUD$0.16/t. Ukraine milling wheat was also lower, that conversion declined AUD$0.87/t, even taking the weaker AUD into account.
US / Canadian cash wheat values out of the Pacific Northwest tracked moves in US futures. The weaker AUD has countered these moves and basically resulted in a slight day to day improvement in the converted values. Higher grade wheat out of both the US and Canada was the most improved gaining roughly AUD$2.00 to AUD$3.00 over yesterdays conversions.
Comparing Canadian spring wheat and Australian APH into the Asian market we see that Australian wheat is almost exactly the same C&F price.
French durum wheat values continued to slip lower, the day to day conversion comparison there indicating a fall of AUD$2.97/t, the AUD helping greatly. The Canadian 1CWAD13 conversion was higher. Low prices in Canada are not drawing grain onto the market, the conversion is up AUD$4.11 / tonne day to day.