Wheat found some support overnight while soybeans pushed lower, canola managed to break away from the influence of the Chicago bean market to close C$6.30 / tonne higher. There is still around 20% of the Saskatchewan spring wheat and canola crop left out in the field.
Wheat found support from a few different reports. CBH have announced the WA wheat crop is back 600kt to 7.8mt. This figure is still a stab in the dark and I’ve heard reports suggesting losses from last month’s frosts could be as high as 5mt. If that is correct WA wheat production may well come in closer to 5mt.
ABARES is still calling the WA crop 10.5mt which most of the trade do not believe this is now possible.

Algeria are in for 50kt of hard wheat this week, it’s not unusual for Algeria to buy much more than their tendered volume. Recent tenders have been much larger than expected so it should give us some indication of future demand and price for the mid grades growing into harvest.
Export offers for desi peas are back a little from northern hemisphere exporters, about $20/t. Local bids were withdrawn by many participants yesterday. The pulse markets continue to be the hardest markets to get reliable data on.