Softer Chicago soybean futures weighed on the grain and oilseed market last night. Paris rapeseed shed value across all months and continued lower after the close and across their cash markets.
Chicago beans also weighed on Winnipeg canola values, which slipped CAD$10.90/t in the January slot. The move lower in Winnipeg canola futures was reflected in cash bids across SE Saskatchewan. A December lift falling on average CAD$10.90/t to CAD$756.14/t XF SE Sask.

The softer AUD is helping a lot of the conversions this morning. Almost countering the move in Winnipeg canola completely and turning a plausible slip in Chicago SRWW futures into a little upside in the conversion comparison. The AUD also countered lower US FOB offers for wheat out of the Pacific Northwest. We see net increases for both US HRWW and spring wheat there. Canadian spring wheat out of the PNW has a nice day to day improvement in the conversion comparisons too, up AUD$4.00/t.
The weaker AUD should buffer out most of the moves lower in international values today. Aussie jobs data saw a 39,300 reduction in employment in September versus an expected 20,000 increase. Unemployment edged higher, to 4.7%. If this news is worth a drop of 0.72% in the AUD, then there’s a good chance we’ll see a weaker AUD leading into the next few months. AI bubble continues to leak.

A large Brazilian soybean crop continues to cap international oilseed markets. CONAB project Brazilian soybean production to be 181.62mt this year, up 1.22mt on last year. We all considered the 2025 crop a little burdensome.
Russian attacks have moved into Romanian territorial water, hitting 3 ships in recent days, one just 5 miles off the coast. This is escalating, not declining.