Sat maps showing rains occurring in the Volga river area of Russia

Moody’s cuts Spain credit rating to Aa1: Moody’s, the credit rating agency, cuts Spain’s rating to Aa1 from AAA, w... http://bit.ly/aZ1UtG

-Lowest bid in Tunisia wheat tender US$318.69/T C&F which implies a circa A$255 track price for east coast of Australia

RT CHS Hedging: corn is limit down, beans down 40, wheat down 25

Chicago wheat down 7.75c/bu overnight and AUD down 0.52%. Wheat down A$2/t since this time yesterday.

RBA unexpectedly left rates unchanged at 4.5%. Credit markets priced in a 75% chance of 25 basis point rise. AUD has dropped 0.8% to 0.9586

Agrium has Foreign Investment Review Board (FIRB) approval for it's A$1.2b bid for AWB. Shareholders vote on the deal in mid November.

BOJ has cut rates, pledging to keep them at zero and purchase 50 trillion yen of assets... QEII begins.

Japan is seeking 141kt of wheat in its Oct 7 Tender: 50.7kt US Western White; 60kt of US HRW; 30.7kt of Canadian Western Red Spring.

It's a quiet start to the LIFFE trading session with Londn wheat down GBP0.30, Paris what down EUR0.50/0.75 and Paris corn up EUR1-2

overnight #ag markets: wheat +5, corn +6, soybeans +6, cattle +.22, feeders +.10, hogs +.10, oil +.57, US$ -.40

Chicago Dec 10 down 5.25c/bu. AUD up 0.64%. Wheat down $3.5/t in AUD terms.

Winnipeg Canola down C$3.40 to C$478.40/t. AUD/CAD up 0.2% to 0.9885. Canola down A$4.20/t to A$484.0/t in AUD terms.

Western Australian crop is likely to dip below 4mmt with dry conditions forecast to continue for at least the next week

Z0/H1 Corn has come in 3c in the US nite session. Big moves for this spread. Chart attached: http://yfrog.com/03e34vg

The AUD is trading at highest level since it floated in 1983. Currently at 0.9882 well over the high of 0.9849 reached in 2008 pre GFC.