Daily Market Wire – February 28, 2023

US farm markets faced another setback on Monday.

Wheat fell between 1.73% to 2.23%.

Corn spilled 1.12% lower, while soybeans incurred losses of 0.7%.

Soyoil was 1.75% lower, while soymeal prices moved 0.32% higher.

Grain prices declined also on Euronext, with a downward movement most noticeable in corn, while wheat prices closed near one-month lows.

Oil prices slipped 1% on worries about more U.S. interest rate hikes.

The BDI was up for the seventh straight session, rising about 5.9% to an over one-month high.

US stocks edged higher on positive corporate news and lower bond yields.

The dollar fell from a seven-week high.

Notably, Chicago wheat Mar contract was down US12.2 cents to 696c/bu;

Kansas wheat Mar contract was down 18.6c/bu to 823c/bu;

Minneapolis wheat Mar contract was down 16c/bu to 869.4c/bu;

MATIF wheat Mar contract was down €2.25/t to €277.5/t;

Black Sea wheat Mar contract was down $1.5/t to $297.25/t;

ASX wheat March contract, down A$3.3/t to A$390.2/t;

US DWI Cash (durum wheat index) was down 4.43c/bu to 889.14c/bu;

1CWAD (Canadian durum) avg reg was down C$0.14/t to C$458.85/t;

EDW (EU durum) March contract was up €4/t to €431.5/t;

Chicago corn Mar contract down 7.2c/bu to 642.6c/bu;

MATIF corn Mar contract was down €9/t to €279.5/t;

Soybeans Mar contract down 10.6c/bu to 1518.2c/bu;

Winnipeg canola Mar contract, was up C$6.9/t to C$841.3/t;

MATIF rapeseed May contract was up €0.75/t to €542.75/t;

Brent crude May was down US$0.78 per barrel to $82.04;

WTI crude Apr was down US$0.64 per barrel to $75.68;

BDI Baltic Dry Index was up 52 points to 935;

Dow Jones was up 72.17 points to 32.889,09;

S&P 500 was up 12.20 points to 3.982,24;

NASDAQ Composite up 72.04 points to 11.466,98;

US dollar index (Mar ’23) was down 0.534 to 104.624;

AUD/USD firmer at US$0.6734;

USD/CAD weaker at $1.3575;

EUR/USD firmer at $1.0607;

USD/RUB weaker at ₽74.6025.