Profarmer Australia Market Wrap
Grain comments 23.10.2026
Oct 22, 2026 · 1 min · 2 segments
Grain comments 23.10.2026 by Bendigo Bank Agribusiness Insights
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Profarmer Australia Market Wrap
Oct 22, 2026 · 1 min · 2 segments
Grain comments 23.10.2026 by Bendigo Bank Agribusiness Insights
Looking internationally, US wheat softened as weak USDA export data put downward pressure on an already bearish market.
Comfortable global stocks continued to cap price upside despite a spike in crude oil following attacks on oil tankers in the Strait.
US corn futures settled lower, giving back a brief mid-week bounce as technical selling resumed despite strong export sales to South Korea and other private buyers.
Chicago soybeans found support from the rising crude oil prices climbing higher as the market positioned itself to catch up with last week's robust export sales.
Ice canola broke its multi-day slump, aided by the spike in crude oil.
Seabot December 26 wheat is down $1.17 per tonne to $327.
Ice November 26 canola is up $9.16 per tonne to $791.
Looking internationally, US wheat softened as weak USDA export data put downward pressure on an already bearish market.
Comfortable global stocks continued to cap price upside despite a spike in crude oil following attacks on oil tankers in the Strait.
US corn futures settled lower, giving back a brief mid-week bounce as technical selling resumed despite strong export sales to South Korea and other private buyers.
Chicago soybeans found support from the rising crude oil prices climbing higher as the market positioned itself to catch up with last week's robust export sales.
Ice canola broke its multi-day slump, aided by the spike in crude oil.
Seabot December 26 wheat is down $1.17 per tonne to $327.
Ice November 26 canola is up $9.16 per tonne to $791.
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