US farm markets were mostly lower on Thursday.
Corn prices faded more than 0.55% lower.
Soybean posted moderate losses, down 0.22%, with soymeal gathering up 0.74% gains, while soyoil was 0.52% lower.
Wheat prices incurred double-digit losses, as Chicago SRW fell 1.84%, Kansas City HRW lost 2.11%, and MGEX HRS dropped by 1.22%.
In Europe, markets saw a further significant decline on all ag commodities, with wheat falling to a three-week low, on good weather conditions and the strengthening of the euro.
Oil prices dropped more than 1% after scaling multi-month highs.
The BDI was flat.
On Wall Street, US stock indexes rallied as weak economic news bolstered hopes that Fed’s rate-hike regime is nearly over.
The DXY fell by -0.47%, with the dollar moving lower for the third straight session and posting a 10-week low.
Notably, Chicago wheat May contract was down 12.4c/bu to 667c/bu;
Kansas wheat May contract was down 18.2c/bu to 845.2c/bu;
Minneapolis wheat May contract was down 10.4c/bu to 849.4c/bu;
MATIF wheat May contract, was down €3.75/t to €247.25/t;
Black Sea wheat May contract was down $0.5/t to $278.75/t;
ASX wheat May contract, was up A$1.8/t to A$388.3/t;
US DWI Cash (durum wheat index) was down 2.26c/bu to 854.17c/bu;
1CWAD (Canadian durum) avg reg was down C$4.51/t to C$441.31/t;
EDW (EU durum) May contract was down €53.75/t to €372.5/t;
Chicago corn May down 3.6c/bu to 652.2c/bu;
MATIF corn Jun, was down €5/t to €239.75/t;
Soybeans May contract down 3.2c/bu to 1501c/bu;
Winnipeg canola May was down C$0.4/t to C$770.6/t;
MATIF rapeseed May contract, was down €6.5/t to €443/t;
Brent crude Jun was down US$1.24 per barrel to $86.09;
WTI crude May was down US$1.10 per barrel to $82.16;
BDI Baltic Dry Index, was unchanged to 1,463;
Dow Jones was up 383.19 points to 34.029,69;
S&P 500 was up 54.27 points to 4.146,22;
NASDAQ Composite up 236.93 points to 12.166,27;
US dollar index (Jun ’23) was down 0.471 to 100.700;
AUD/USD firmer at US$0.6781;
USD/CAD weaker at $1.3334;
EUR/USD firmer at $1.1044;
USD/RUB weaker at ₽81.7012.
