Daily Market Wire – February 22, 2023

US farm markets were mixed on Tuesday.

Soybeans grabbed double-digit gains.

Corn, soymeal and soyoil contracts had also improved.

Wheats, in contrast, suffered a technical setback, incurring losses that ranged between 0.25% and 1.96%.

In Europe, wheat prices were sharply down, while corn evolved little against wheat, now showing a higher level price.

Brent crude oil slipped more than 1%, and WTI slipped 0.2%.

The BDI climbed to the highest in more than a week.

US stocks sank, with the S&P 500 down -1.30%, the Dow Jones down -1.32%, and the Nasdaq down -1.55%, while the dollar index rose by +0.29%, as 10-year T-Note yield, jumped to 3-1/4 month high.

Notably, Chicago wheat Mar contract was down US15 cents to 750.4c/bu;

Kansas wheat Mar contract was down 2.2c/bu to 904.2c/bu;

Minneapolis wheat Mar contract was down 5.6c/bu to 924.4c/bu;

MATIF wheat Mar contract was down €7.5/t to €287/t;

Black Sea wheat Mar contract was down $1.25/t to $302/t;

ASX wheat March contract, was unchanged to A$394/t;

US DWI Cash (durum wheat index) was down 2.02c/bu to 895.71c/bu;

1CWAD (Canadian durum) avg reg was up C$0.26/t to C$455.89/t;

EDW (EU durum) March contract was up €5/t to €425/t;

Chicago corn Mar contract up 2.6c/bu to 680.4c/bu;

MATIF corn Mar contract was down €1.25/t to €293.5/t;

Soybeans Mar contract up 21.4c/bu to 1548.6c/bu;

Winnipeg canola Mar contract, was up C$10.1/t to C$838.5/t;

MATIF rapeseed May contract was up €3.25/t to €560.75/t;

Brent crude Apr was down US$1.02 per barrel to $83.05;

WTI crude Apr was down US$0.19 per barrel to $76.27;

BDI Baltic Dry Index was up 42 points to 594;

Dow Jones was down 697.10 points to 33.129,59;

S&P 500 was down 81.75 points to 3.997,34;

NASDAQ Composite down 294.97 points to 11.492,30;

US dollar index (Mar ’23) was up 0.332 to 104.112;

AUD/USD weaker at US$0.6852;

USD/CAD firmer at $1.3537;

EUR/USD weaker at $1.0646;

USD/RUB firmer at ₽74.9186.