US farm markets landed into the red on Wednesday, after a broad selloff affected grains, cattle, energy and more.
Corn prices, indeed, faded 0.77% lower.
Soybean faced double-digit losses, down 0.84%.
The rest of the soy complex also shifted lower, with soymeal down 1.45%, and soyoil dropping 0.61%.
Wheat prices were slashed, as Chicago SRW lost 2.33%, Kansas City HRW fell 2.21%, and MGEX HRS eroded 2.09%.
The pressure coming from a generally benign spring planting forecast, the lack of fresh demand news, record-breaking production in Brazil, Ukrainian shipping trends, and outside markets all applied downward pressure.
In Europe too, grain and oilseed prices fell, as the halt to Ukrainian grain exports was averted.
Oil prices slid about 2% to a two-week low, despite a sharp decline in U.S. crude inventories.
The BDI edged up 0.3%.
On Wall Street, US stock indexes closed slightly lower, as bond yields climbed on inflation concerns.
The DXY rose by +0.22%, as higher T-note yields supported the dollar.
Notably, Chicago wheat May contract was down 16.2c/bu to 681.6c/bu;
Kansas wheat May contract was down 19.4c/bu to 861.6c/bu;
Minneapolis wheat May contract was down 18.4c/bu to 867c/bu;
MATIF wheat May contract, was down €6.75/t to €254/t;
Black Sea wheat May contract was down $1/t to $279/t;
ASX wheat May contract, was up A$0.5/t to A$383/t;
US DWI Cash (durum wheat index) was unchanged to 850.69c/bu;
1CWAD (Canadian durum) avg reg was down C$1.38/t to C$436.36/t;
EDW (EU durum) May contract was up €3/t to €374.75/t;
Chicago corn May down 5.2c/bu to 672.2c/bu;
MATIF corn Jun, was down €5.5/t to €245.25/t;
Soybeans May contract down 12.6c/bu to 1506.4c/bu;
Winnipeg canola May was down C$9.30/t to C$772.5/t;
MATIF rapeseed May contract, was down €7.75/t to €477/t;
Brent crude Jun was down US$1.65 per barrel to $83.12;
WTI crude May was down US$1.66 per barrel to $79.24;
BDI Baltic Dry Index, was up 4 points to 1,372;
Dow Jones was down 79.62 points to 33.897,01;
S&P 500 was down 0.35 points to 4.154,52;
NASDAQ Composite up 3.82 points to 12.157,23;
US dollar index (Jun ’23) was up 0.220 to 101.668;
AUD/USD weaker at US$0.6713;
USD/CAD firmer at $1.3460;
EUR/USD weaker at $1.0954;
USD/RUB weaker at ₽81.6952.
