ASIA WHEAT ROUNDUP: Australian prices fall in June; buyers await new crop from Canada, Black Sea

Australian wheat prices softened in June, tracking favorable weather conditions across most cropping regions and bearishness from a weaker currency, but levels remain too expensive compared with the Black Sea and Canada, where large, upcoming harvests have added further bearishness to regional buying ideas. Rains continue to reshape new crop expectations despite El Nino forecast Platts, part of S&P Global Energy, assessed Australian Premium White wheat at $273/metric ton June 30, down $9/mt since the start of the month June 2, while Australian Standard White fell $6/mt to $268/mt during the same period. Prices softened throughout much of June as swathes of the Australian wheat belt received rain since late May, improving crop prospects across multiple states, according to several Australian trade sources. Sources also cited bearish influences from a weaker Australian dollar in June. The Australian dollar closed the month at 69.19 US cents June 30, down 3.3% from 71.58 cents June ...