US farm markets fell sharply on Monday, after a large corn sale cancellation to China and a tepid round of export inspection data brought the bears racing back onto the scene.
Corn prices, indeed, fell 1.81% to an eight-month low.
Soybeans spilled 1.23% lower.
The rest of the soy complex also trended lower, with soymeal down 1.39%, and soyoil posting 1.57% losses.
Wheat losses were variable, as CBOT SRW lost 2.76%, KC HRW dropped 0.92%, and MGE HRS eased 0.5%.
In Europe, Sep wheat was steady in a choppy session, after reaching its lowest level since 2021.
Corn and rapeseed ended slightly firmer.
Oil prices settled higher on optimism about fuel demand in China.
The BDI gained 0.9%.
On Wall Street, US stock indexes drifted sideways and settled mixed ahead of mega-cap tech earnings.
The DXY fell by -0.47% and posted a 1-week low, under pressure from weaker T-note yields, and weaker-than-expected Dallas Fed report.
Notably, Chicago wheat May contract was down 18.2c/bu to 643.4c/bu;
Kansas wheat May contract was down 7.6c/bu to 833c/bu;
Minneapolis wheat May contract was down 4.2c/bu to 842.6c/bu;
MATIF wheat May contract, was up €2.5/t to €245/t;
Black Sea wheat May contract was down $1.25/t to $276.25/t;
ASX wheat May contract, was down A$2.5/t to A$379.8/t;
US DWI Cash (durum wheat index) was down 1.39c/bu to 850c/bu;
1CWAD (Canadian durum) avg reg was down C$0.04/t to C$435.62/t;
EDW (EU durum) May contract was down €5.5/t to €369.25/t;
Chicago corn May down 12c/bu to 651.2c/bu;
MATIF corn Jun, was up €0.25/t to €239.75/t;
Soybeans May contract down 18.2c/bu to 1465.2c/bu;
Winnipeg canola May was up C$3.2/t to C$767.8/t;
MATIF rapeseed May contract, was up €2.5/t to €459/t;
Brent crude Jun was up US$1.07 per barrel to $82.73;
WTI crude Jun was up US$0.89 per barrel to $78.76;
BDI Baltic Dry Index, was up 13 points to 1,517;
Dow Jones was up 66.44 points to 33.875,40;
S&P 500 was up 3.52 points to 4.137,04;
NASDAQ Composite down 35.25 points to 12.037,20;
US dollar index (Jun ’23) was down 0.479 to 101.073;
AUD/USD firmer at US$0.6696;
USD/CAD firmer at $1.3540;
EUR/USD firmer at $1.1041;
USD/RUB weaker at ₽81.4892.
