A flat session for the US row crop futures overnight while all three wheat contracts slipped further. The firmer nature of US soybeans lent support to both ICE canola and Paris rapeseed with both contracts closing higher. With the higher close to canola and the weaker AUD combining there’s a good chance we’ll see a little upside here on Monday morning. Cash bids for canola out of SW Saskatchewan were C$7.78 /t firmer for a December lift.

Ag Canada confirmed that 2020 durum production will be a little lower than predicted last month with 6.13mt now expected to be harvested. That’s a significant increase on 2019 (4.97mt) but is well below last month’s estimate of 6.92mt. Good demand globally for pasta has resulted in a big reduction in expected carry over too. Canadian durum exports are predicted to be strong with 5.3mt pencilled in. This will result in ending stocks of just 660kt, the lowest level in 34 years.
Cash bids for 1CWAD13 out of SW Saskatchewan were firmer overnight, up C$2.26 for a December lift. On the back of an envelope bids there would equate to a Newcastle port bid of approximately $403 given the current exchange rates and current Canadian Fobbing costs.

Wheat was softer in the states thanks to a stronger US dollar and the realisation that recent moves higher has seen US wheat price itself out of the export market again. The USDA will publish their wheat production estimate on Wednesday, the punters are tipping an increase.