Daily Market Wire – April 6, 2023

US farm markets spilled back again into the red on Wednesday.

Corn and soybean prices faced modest cuts, down 0.15% and 0.43% respectively.

The rest of the soy complex fared even worse, with soymeal down 1.49%, while soyoil lost 0.93%.

Wheat losses were more severe, with Chicago SRW down 1.37%, Kansas City HRW down 1.26%, and Minneapolis spring wheat down 1.8%.

In Europe too, wheat and corn eased again, while rapeseed, tumbled.

Oil prices settled largely unchanged.

The BDI rose for third-straight session.

On Wall Street, US stock indexes settled mixed, with the S&P 500 down -0.25%, the Dow Jones up +0.24%, and the Nasdaq down -1.01%.

The DXY rose by +0.27%.

Notably, Chicago wheat May contract was down 9.4c/bu to 682c/bu;

Kansas wheat May contract was down 11c/bu to 861.4c/bu;

Minneapolis wheat May contract was down 16c/bu to 873.4c/bu;

MATIF wheat May contract was down €1.25/t to €254/t;

Black Sea wheat May contract was down $1.25/t to $281.25/t;

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

US DWI Cash (durum wheat index) was up 0.76c/bu to 848.33c/bu;

1CWAD (Canadian durum) avg reg was down C$2.20/t to C$447.23/t;

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

Chicago corn May down 1c/bu to 652.6c/bu;

MATIF corn Jun was down €2.75/t to €251.25/t;

Soybeans May contract down 6.4c/bu to 1511c/bu;

Winnipeg canola May, was down C$13.6/t to C$763.7/t;

MATIF rapeseed May, was down €25.25/t to €453/t;

Brent crude Jun was up US$0.05 per barrel to $84.99;

WTI crude May was down US$0.10 per barrel to $80.61;

BDI Baltic Dry Index was up 52 points to 1.525;

Dow Jones was up 80.34 points to 33.482,72;

S&P 500 was down 10.22 points to 4.090,38;

NASDAQ Composite down 129.47 points to 11.996,86;

US dollar index (Jun ’23) was up 0.278 to 101.545;

AUD/USD weaker at US$0.6718;

USD/CAD firmer at $1.3458;

EUR/USD weaker at $1.0903;

USD/RUB firmer at ₽80.1938.