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AWB market update

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Wheat markets closed for Labour Day holiday in the US and Canada.

The US winter wheat harvest is pretty well complete. Brazil continues to purchase US wheat and is expected to purchase more in the coming weeks. The Aussie dollar has strengthened on the back of better than expected Chinese manufacturing data.

Chicago wheat for Sept 2013 on Friday closed at 643¼ US cents a bushel.

Corn markets closed for Labour Day holiday in the US and Canada. The dry weather in the US continues to be of concern with Traders watching it closely. South Korea has issued a tender for 70,000 tonnes for Jan delivery having previously passed on their last tender due to price.

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Chicago corn for Sept 2013 closed on Friday at 495 US cents a bushel.

Corn markets closed for a labour Day holiday in Canada. The Canadian canola crop is expected to be at 14.7 mill t, up from 13.2 million t but is at the lower end of expectations, but still a record. Germany's canola crop is expected to be at 5.6 million t up from 4.8 million t from last year.

Winnipeg Canola for Nov 2013 closed on at $522.30 Canadian dollars per tonne.

The Australian dollar is currently trading at 0.8993 USD.

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