Daily Market Wire – February 8, 2023

Grain markets were mixed again on Tuesday.

Corn prices faded 0.74% lower and soybean was trimmed by 0.39%.

The meal market continued its decline with another 1.55% loss.

Soybean oil, in contrast, bounced 2.66%.

Wheat prices were mixed again with Chicago SRW, and MGEX down 0.07% and 0.03% respectively, while Kansas City HRW jumped 1.11% higher.

Brent crude rallied another 3.33%, and WTI jumped 4.09%.

On Wall St. stocks rallied, while the dollar index was down slightly.

In Europe, sharp rebound in grain prices on Euronext.

Notably, Chicago wheat Mar contract was down US0.4 cents to 749.6c/bu;

Kansas wheat Mar contract was up 9.6c/bu to 885.6c/bu;

Minneapolis wheat Mar contract down 0.2c/bu to 917.2c/bu;

MATIF wheat Mar contract was up €5.25/t to €293.75/t;

Black Sea wheat Mar contract was unchanged to $305/t;

ASX wheat March contract, up A$3.5/t to A$385.5/t;

US DWI Cash (durum wheat index) was down 1.72c/bu to 902.57c/bu;

1CWAD (Canadian durum) avg reg was up C$0.59/t to C$447.65/t;

EDW (EU durum) March contract was unchanged to €481/t;

Chicago corn Mar contract down 5c/bu to 674c/bu;

Soybeans Mar contract down 6c/bu to 1515.2c/bu;

MATIF corn Mar contract was up €5.25/t to €285.5/t;

Winnipeg canola Mar contract, was down C$1/t to C$832.5/t;

MATIF rapeseed May contract was up €3.75/t to €553.5/t;

Brent crude Apr was up US$2.70 per barrel to $83.69;

WTI crude Mar was up US$3.03 per barrel to $77.14;

BDI Baltic Dry Index was down 7 points to 601;

Dow Jones was up 265.67 points to 34.156,69;

S&P 500 was up 52.92 points to 4.164,00;

NASDAQ Composite up 226.34 points to 12.113,79;

US dollar index (Mar ’23) was down 0.200 to 103.298;

AUD/USD firmer at US$0.6958;

USD/CAD weaker at $1.3398;

EUR/USD weaker at $1.0723;

USD/RUB firmer at ₽71.7771.