Daily Market Wire – February 24, 2023

US farm markets were mixed but mostly lower on Thursday.

Corn prices spilled more then 2% lower.

Soybean prices were also in the red, down 0.34%.

The rest of the soy complex, saw soyoil 1.26% lower, while soymeal picked up 0.1%.

Wheat prices were mixed but mostly lower, as Chicago SRW contracts gone home 0.24% higher.

The hard red wheats, however, fell with Kansas City closing down by 1.63% and Minneapolis giving back 0.68%.

In Europe, grain markets rebounded, mainly due to the fall in euro/dollar parity, which fell back below 1.06, while rapeseed extended Wednesday’s losses.

Oil prices settled up 2%.

The BDI posted its second-biggest jump ever, up 21.1%.

US stocks ended higher on Nvidia and lower bond yields, while the dollar index fell by -0.01%.

Notably, Chicago wheat Mar contract was up US1.6 cents to 738.2c/bu;

Kansas wheat Mar contract was down 14.2c/bu to 861.6c/bu;

Minneapolis wheat Mar contract was down 6.2c/bu to 908c/bu;

MATIF wheat Mar contract was up €3.25/t to €284.25/t;

Black Sea wheat Mar contract was down $0.25/t to $300.25/t;

ASX wheat March contract, down A$2.7/t to A$391.3/t;

US DWI Cash (durum wheat index) was down 2.14c/bu to 893.57c/bu;

1CWAD (Canadian durum) avg reg was down C$0.10/t to C$459.82/t;

EDW (EU durum) March contract was unchanged to €427.5/t;

Chicago corn Mar contract down 13.6c/bu to 660.2c/bu;

MATIF corn Mar contract was up €3.5/t to €295.25/t;

Soybeans Mar contract down 5.2c/bu to 1534.2c/bu;

Winnipeg canola Mar contract, was down C$6.6/t to C$832.5/t;

MATIF rapeseed May contract was down €13.5/t to €544.5/t;

Brent crude Apr was up US$1.61 per barrel to $82.21;

WTI crude Apr was up US$1.44 per barrel to $75.39;

BDI Baltic Dry Index was up 142 points to 816;

Dow Jones was up 108.82 points to 33.153,91;

S&P 500 was up 21.27 points to 4.012,32;

NASDAQ Composite up 83.33 points to 11.590,40;

US dollar index (Mar ’23) was up 0.016 to 104.539;

AUD/USD firmer at US$0.6807;

USD/CAD weaker at $1.3547;

EUR/USD weaker at $1.0595;

USD/RUB firmer at ₽75.7286.