Daily Market Wire – February 17, 2023

US soybean inched higher on Thursday, while corn ended narrowly mixed.

Wheat prices were mixed, with Chicago weaker, but K.C. and Minneapolis higher.

European grain prices fell with wheat to a one-week low, but closely near corn price.

Rapeseed rose, closing above 550 €/t.

Oil prices were slightly lower on mixed U.S. economic data, and crude stocks growth.

The Baltic Dry Index was near three-year low on lower capesize, panamax demand.

Stocks slumped as Fed officials mentioned bigger rate hikes, however, the dollar index fell back from a 1-1/4 month high and posted a modest loss at the bell.

Notably, Chicago wheat Mar contract was down US4.2 cents to 765c/bu;

Kansas wheat Mar contract was up 4c/bu to 898.4c/bu;

Minneapolis wheat Mar contract up 5.4c/bu to 930.2c/bu;

MATIF wheat Mar contract was down €2.75/t to €293.75/t;

Black Sea wheat Mar contract was unchanged to $303.75/t;

ASX wheat March contract, down A$3/t to A$394/t;

US DWI Cash (durum wheat index) was down 8.55c/bu to 887.04c/bu;

1CWAD (Canadian durum) avg reg was up C$0.34/t to C$453.11/t;

EDW (EU durum) March contract was unchanged to €420.75/t;

Chicago corn Mar contract down 0.2c/bu to 676c/bu;

MATIF corn Mar contract was down €3/t to €294/t;

Soybeans Mar contract up 0.6c/bu to 1526.4c/bu;

Winnipeg canola Mar contract, was up C$0.4/t to C$823.5/t;

MATIF rapeseed May contract was up €3/t to €553.25/t;

Brent crude Apr was down US$0.24 per barrel to $85.14;

WTI crude Mar was down US$0.10 per barrel to $78.49;

BDI Baltic Dry Index was down 11 points to 530;

Dow Jones was down 431.20 points to 33.696,85;

S&P 500 was down 57.19 points to 4.090,41;

NASDAQ Composite down 214.76 points to 11.855,83;

US dollar index (Mar ’23) was down 0.048 to 103.791;

AUD/USD weaker at US$0.6876;

USD/CAD firmer at $1.3456;

EUR/USD weaker at $1.0668;

USD/RUB weaker at ₽73.9000.