UPDATE: 25th of June, 2018
The US futures had a mixed session on Friday evening with wheat lower, with corn stabilising and soybeans rebounding. The 3 US wheat bourses closed lower on technical selling and profit taking following a week of uncertainty with trade wars and potential reduction in Russian harvest agitating markets. CME corn futures finished mostly unchanged with July futures declining for the fourth straight week as the ongoing trade dispute between US/China and favourable growing weather conditions expected over the coming days weigh on values. However, news of fresh US corn sales into Mexico and Panama overnight did provide some support. CME soybeans bounced back as traders looked to cover short positions prior to the weekend although not enough to stop a fourth straight weekly decline. Like corn, favourable growing conditions are expected to boost soybean output as traders prepare for next week’s US acreage report with expectation that the USDA could lift soybean acres. ICE Canadian canola futures rose on continued dry conditions and spill over strength from soybeans as grower selling remained thin, Matif rapeseed futures also posted gains. The AUD is trading at 0.7440, up 30 points from Friday evening. The mixed session should see our markets unchanged for wheat, with coarse grains unchanged to $1/mt lower with canola unchanged to up $1/mt. Wheat basis likely to be steady to start the week.
|Cash Bids||Brisbane||Northern Newcastle||Southern Newcastle||Pt Kembla||Melb/Gee|
|Ex Farm/Delivered||Northern NSW||Central NSW||Southern NSW||Vic|
|CHKP1 Delivered 2017/2018||Goondiwindi POA||Wee Waa POA||Trangie POA||POA|
|Albus Lupins 2017/2018||POA||POA||POA|
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