Daily Market Wire – April 19, 2023

US farm markets were mixed on Tuesday.

Corn and soybean prices closed slightly higher, both at the bell up 0.15%.

The rest of the soy complex was mixed, as soyoil jumped 1.45% higher, while soymeal eroded 0.99% lower.

Wheat prices were also mixed, as CBOT SRW pushed 0.22% higher, while Kansas City HRW lost 0.96% and MGEX HRS eased 0.39% lower.

In Europe markets rose, on uncertainty of the extension of the Black Sea grain corridor, and tensions from Eastern Europe countries about Ukrainian grain exports.

Oil prices were flat, despite upbeat China data, due economy worries.

The BDI fell for a third consecutive session, down 3.1%.

On Wall Street, US stock indexes closed little changed after a day of meandering trading, among the bank stock weakness and hawkish Fed comments.

The DXY fell by -0.34% as T-note yields declined.

Notably, Chicago wheat May contract was up 1.4c/bu to 698c/bu;

Kansas wheat May contract was down 8.4c/bu to 881.2c/bu;

Minneapolis wheat May contract was down 3.4c/bu to 885.4c/bu;

MATIF wheat May contract, was up €4.75/t to €260.75/t;

BlackSea wheat May contract was up $0.25/t to $280/t;

ASX wheat May contract, was down A$0.5/t to A$382.5/t;

US DWI Cash (durumwheat index) was down 2.88c/bu to 850.69c/bu;

1CWAD (Canadian durum) avg reg was down C$0.14/t to C$437.74/t;

EDW (EU durum) May contract was unchanged to €371.75/t;

Chicago corn May up 1c/bu to 677.4c/bu;

MATIF corn Jun, was up €6/t to €250.75/t;

Soybeans May contract up 2.2c/bu to 1519.2c/bu;

Winnipeg canola May was up C$8.10/t to C$781.8/t;

MATIF rapeseed May contract, was up €16.5/t to €477/t;

Brent crude Jun was up US$0.01 per barrel to $84.77;

WTI crude May was up US$0.03 per barrel to $80.86;

BDI Baltic Dry Index, was down 44 points to 1,368;

Dow Jones was down 10.55 points to 33.976,63;

S&P 500 was up 3.55 points to 4.154,87;

NASDAQ Composite down 4.31 points to 12.153,41;

US dollar index (Jun ’23) was down 0.348 to 101.448;

AUD/USD firmer at US$0.6722;

USD/CAD weaker at $1.3387;

EUR/USD firmer at $1.0971;

USD/RUB weaker at ₽81.8273.