Canadian grain stocks report was out overnight. Grain still in the field in Canada was move off the old crop balance sheet as production / carry over stock and onto the new crop sheet as production for 19-20. All in all we still have a small projected decline in Canadian wheat stocks. The trade appear happy to be letting the producer carry an increased percentage of wheat carry over stock.
Canadian durum stocks were estimated at 4.516mt, a little higher than expected but well below the five year average.
Canadian canola stocks were less than expected but still large at 14.271mt, this should see ending stocks come in around 3.5mt.

Black Sea wheat values continue to slip with smaller vessels being hit the hardest. Milling and lower grade wheat out of the Black Sea can move into the Asian markets at roughly US$264 for a milling grade FOB Asia and US$254 for a feed grade. Weekly rainfall across central Russian has been good. Heavier falls were to the south across Ukraine and west into Europe. Temperatures remained extremely above average with some parts of Russia and Kazakhstan 15C above average for this time of year. Parts of the lower Volga Valley saw the mercury climb as high as 7C – 10C. Parts of central France has also seen temperatures into the mid-teens. Weekly rainfall totals across France have been good with the central and northern regions seeing 25-60mm while the SE was generally dry.

At Chicago wheat futures were firmer, corn a touch lower and soybeans were sideway. ICE canola saw good gains, +C$9.20 Tue / Wed.