Daily Market Wire – April 3, 2023

US farm markets ended Friday’s session with solid gains.

Corn firmed about 1.7%, soybean trended more than 2% higher,

soymeal was up 1.33%, and soyoil jumped 2.06% higher.

Wheat prices were mixed, as CBOT SRW was unchanged, while KC HRW closed 0.72% higher, and MGE HRS rallied by 1.82%.

In Europe grain prices fell, while rapeseed rose.

Oil prices rose by more than a dollar a barrel.

The BDI fell about 1%.

On Wall Street, US stock indexes rallied, on friendly inflation data.

The DXY rose by +0.36%.

Notably, Chicago wheat May contract was unchanged to 692.2c/bu;

Kansas wheat May contract was up 6.2c/bu to 877.6c/bu;

Minneapolis wheat May contract was up 16c/bu to 895.6c/bu;

MATIF wheat May contract was down €1.5/t to €260.25/t;

Black Sea wheat May contract was down $1/t to $283/t;

ASX wheat May contract, was unchanged to A$391/t;

US DWI Cash (durum wheat index) was down 5.21c/bu to 847.57c/bu;

1CWAD (Canadian durum) avg reg was down C$1.39/t to C$449.38/t;

EDW (EU durum) May contract was unchanged to €426.25/t;

Chicago corn May up 11c/bu to 660.4c/bu;

MATIF corn Jun was down €1.25/t to €257.75/t;

Soybeans May contract up 31c/bu to 1505.4c/bu;

Winnipeg canola May, was up C$3.3/t to C$767.9/t;

MATIF rapeseed May, was up €9/t to €475.75/t;

Brent crude Jun was up US$1.29 per barrel to $79.89;

WTI crude May was up US$1.30 per barrel to $75.67;

BDI Baltic Dry Index was down 14 points to 1.389;

Dow Jones was up 415.12 points to 33.274,15;

S&P 500 was up 58.48 points to 4.109,31;

NASDAQ Composite up 208.43 points to 12.221,91;

US dollar index (Jun ’23) was up 0.365 to 102.186;

AUD/USD weaker at US$0.6685;

USD/CAD weaker at $1.3515;

EUR/USD weaker at $1.0839;

USD/RUB firmer at ₽77.9760.