Grain Comments 12.10.26

Australian wheat and barley markets were largely unchanged on Friday, while canola generally lifted.

Across international markets, US wheat futures eased following the release of the USDA WASDE report, which raised the forecast for 26/27 US wheat carryout despite projecting lower global ending stocks.

US corn futures declined as the report increased domestic corn yield and ending stocks, defying market expectations of production downgrades.

In contrast, Chicago soybean futures firmed as short-covering emerged despite the USDA lifting its yield and total production forecasts.

While Ice Canola futures advanced, finding support from spillover technical buying across the Chicago Soy complex.

CBOT December 26 wheat was down $7.71 to 353 Australian dollars per tonne.

Ice November 26 canola was down $4.19 to 820 Australian dollars per tonne.

MATIF November 26 canola was down $20.15 to 805 Australian dollars per tonne.