Daily Market Wire – April 24, 2023

US farm markets continued to bleed last Friday.

Corn market closed 0.08% lower.

Soybeans fell 0.93%.

Meal prices ended the end week session 1.24% lower, while soy oil posted triple digit losses, down 1.89%.

Wheat prices followed other grains lower, with Chicago SRW dropping 0.9%.

Kansas City HRW May contract closed 0.06% in the black for the day, however the July contract was still as much as 0.15% weaker.

MGEX spring wheat prices fell 1.02%.

All three wheat classes took a tumble during the week, as contracts were down double digits.

In Europe, wheat prices fell again, to reach a one-week low.

Rapeseed prices also continued to decline, despite a rise in canola.

Oil prices rose, but posted weekly loss as economic uncertainty weighs.

The BDI climbed up for a third session, ending the week higher.

On Wall Street, US stock indexes ended with fractional gains, ahead of a big week of earnings for megacap tech companies.

The DXY fell by -0.01%, as strength in the euro and yen sparked a long liquidation in the dollar.

Notably, Chicago wheat May contract was down 6c/bu to 661.6c/bu;

Kansas wheat May contract was up 0.4c/bu to 840.6c/bu;

Minneapolis wheat May contract was down 8.6c/bu to 847c/bu;

MATIF wheat May contract, was down €7.25/t to €242.5/t;

Black Sea wheat May contract was down $1.25/t to $277.5/t;

ASX wheat May contract, was unchanged to A$382.3/t;

US DWI Cash (durum wheat index) was unchanged to 851.39c/bu;

1CWAD (Canadian durum) avg reg was down C$0.08/t to C$435.66/t;

EDW (EU durum) May contract was unchanged to €374.75/t;

Chicago corn May down 0.4c/bu to 663.2c/bu;

MATIF corn Jun, was down €4/t to €239.5/t;

Soybeans May contract down 14c/bu to 1483.4c/bu;

Winnipeg canola May was up C$6.8/t to C$764.6/t;

MATIF rapeseed May contract, was down €0.25/t to €456.5/t;

Brent crude Jun was up US$0.56 per barrel to $81.66;

WTI crude Jun was up US$0.50 per barrel to $77.87;

BDI Baltic Dry Index, was up 72 points to 1,504;

Dow Jones was up 22.34 points to 33.808,96;

S&P 500 was up 3.73 points to 4.133,52;

NASDAQ Composite up 12.90 points to 12.072,46;

US dollar index (Jun ’23) was down 0.014 to 101.552;

AUD/USD weaker at US$0.6690;

USD/CAD firmer at $1.3539;

EUR/USD firmer at $1.0987;

USD/RUB firmer at ₽81.8760.