Note: US markets are closed today in observance of Good Friday, and will reopen normally on Sunday night.
European markets are closed for both Good Friday and Easter Monday, so we won’t be making any market updates until next Tuesday.
Happy Easter everyone.
US farm markets continued to struggle on Thursday.
USDA Weekly Export Sales report showed corn sales at 1,25 MMt, up 20% from the previous week, but down 26% from the previous 4-week average.
Soybeans export sales were at 155,300 t, down 55% from the previous week and 42% from the prior 4-week average.
Wheat export sales were at 193,600 t, up 28% from the previous week but down 5% from the prior 4-week average.
Egypt purchased 600k mt of Russian wheat in an international tender at a FOB price of $275/t.
Meantime, Chicago corn prices faded more than 1.4% lower.
Soybean ended the session with 1.22% losses.
The rest of the soy complex was mixed, as soymeal shifted 0.85% higher, while soyoil sank 1.25% lower.
Wheat prices were mixed, as Chicago SRW dropped by 0.95%, and MGE spring wheat prices were 0.17% lower, while KC HRW was the outlier with 0.35% gains.
In Europe grain markets extended losses with wheat to its lowest in almost two weeks, while rapeseed rebounded.
Oil prices were steady but notched 3rd weekly gain.
The BDI increased by 2.3%.
On Wall Street, US stock indexes recovered from early losses and closed higher.
The DXY, gave up an early advance and was slightly down by the close.
Notably, Chicago wheat May contract was down 6.4c/bu to 675.4c/bu;
Kansas wheat May contract was up 3c/bu to 864.4c/bu;
Minneapolis wheat May contract was down 1.4c/bu to 872c/bu;
MATIF wheat May contract was down €2.75/t to €251.25/t;
Black Sea wheat May contract was down $0.75/t to $280.5/t;
ASX wheat May contract, was down A$1/t to A$390/t;
US DWI Cash (durum wheat index) was unchanged to 848.33c/bu;
1CWAD (Canadian durum) avg reg was up C$0.07/t to C$447.30/t;
EDW (EU durum) May contract was unchanged to €426.25/t;
Chicago corn May down 9.2c/bu to 643.4c/bu;
MATIF corn Jun was down €3.5/t to €247.75/t;
Soybeans May contract down 18.4c/bu to 1492.4c/bu;
Winnipeg canola May, was up C$7.7/t to C$771.4/t;
MATIF rapeseed May, was up €8.5/t to €461.5/t;
Brent crude Jun was up US$0.13 per barrel to $85.12;
WTI crude May was up US$0.09 per barrel to $80.70;
BDI Baltic Dry Index was up 35 points to 1.560;
Dow Jones was up 2.57 points to 33.485,29;
S&P 500 was up 14.64 points to 4.105,02;
NASDAQ Composite up 91.09 points to 12.087,96;
US dollar index (Jun ’23) was down 0.026 to 101.519;
AUD/USD weaker at US$0.6671;
USD/CAD firmer at $1.3492;
EUR/USD firmer at $1.0920;
USD/RUB firmer at ₽81.6352.
