US farm markets continued to crumble on Thursday, amid another China large corn sale cancellation, and favourable weather conditions.
Corn prices, indeed, dropped 2.26%.
Soybean faded 0.64% lower, with soyoil tumbling 2.5% lower, while soymeal firmed 0.45% higher.
Wheat prices faced severe cuts, with Chicago SRW dropping 1.99%, Kansas City HRW fell 1.86% and MGEX spring wheat lost 4.83%.
In Europe, all ag commodities fell again, with wheat to a new 19-month low.
Oil prices steadied, and closed slightly up, after Russia said global oil markets in balance.
The BDI extended gains for a second-straight session, closing up about 2.9%.
On Wall Street, US stock indexes rallied sharply, as strength in technology stocks, boosted market sentiment and led the overall market higher after Meta Platforms soared more than +13%.
The DXY posted modest gains, as higher T-note yields, underpinned the dollar.
Notably, Chicago wheat May contract was down 12.4c/bu to 614.6c/bu;
Kansas wheat May contract was down 14.6c/bu to 778.6c/bu;
Minneapolis wheat May contract was down 39c/bu to 769c/bu;
MATIF wheat May contract, was down €4.5/t to €239/t;
Black Sea wheat May contract was down $0.25/t to $275.5/t;
ASX wheat May contract, was unchanged to A$370/t;
US DWI Cash (durum wheat index) was down 25.70c/bu to 821.11c/bu;
1CWAD (Canadian durum) avg reg was down C$1.64/t to C$434.53/t;
EDW (EU durum) May contract was unchanged to €367.75/t;
Chicago corn May down 14.4c/bu to 627c/bu;
MATIF corn Jun, was down €3.5/t to €235.5/t;
Soybeans May contract down 9.2c/bu to 1426.6c/bu;
Winnipeg canola May was down C$20.5/t to C$734.5/t;
MATIF rapeseed May contract, was down €14.25/t to €443/t;
Brent crude Jul was up US$0.50 per barrel to $78.22;
WTI crude Jun was up US$0.46 per barrel to $74.76;
BDI Baltic Dry Index, was up 45 points to 1,581;
Dow Jones was up 524.29 points to 33.826,16;
S&P 500 was up 79.36 points to 4.135,35;
NASDAQ Composite up 287.89 points to 12.142,24;
US dollar index (Jun ’23) was up 0.047 to 101.252;
AUD/USD firmer at US$0.6629;
USD/CAD weaker at $1.3591;
EUR/USD weaker at $1.1027;
USD/RUB weaker at ₽81.5845.
