US farm markets closed mostly lower on Wednesday.
Corn prices fell 0.78%.
Soybeans followed suit down 0.79%.
Soymeal was the weak link, closing with 1.96% losses, while soybean oil closed up by 0.96% at the bell.
The wheat market closed with losses across all three classes, with
Chicago SRW ending 0.94% weaker, Kansas City HRW fell 0.76%, and Minneapolis HRS eased 0.06%.
In Europe, grain and oilseed prices fell sharply, due to the lack of competitiveness of European origins on the international scene.
Oil prices dropped 1.5% as Fed projected more rate hikes this year.
The Baltic Exchange’s main sea freight index in London rose by 0.5% hitting its highest level in two weeks.
On Wall Street, US stock indexes settled mixed, as Fed has hold rates steady, while hunting of hikes ahead.
The DXY tumbled to a 4-week low and finished down by -0.39%.
Notably, Chicago wheat July contract was down 6c/bu to 630.2c/bu;
Kansas wheat Jul contract was down 6c/bu to 785.6c/bu;
Minneapolis wheat Jul contract was down 0.4c/bu to 809.2c/bu;
MATIF wheat Sep contract, was down €5.5/t to €233.25/t;
Black Sea wheat Jul contract was down $1.25/t to $238.25/t;
ASX wheat Jul contract, down A$3/t to A$380/t;
US DWI Cash (durum wheat index) was up 3.97c/bu to 790c/bu;
1CWAD (Canadian durum wheat) avg reg was up C$0.03/t to C$392.08/t;
EDW (EU durum) Sep contract, was up €6/t to €362.75/t;
Chicago corn Jul was down 4.6c/bu to 607.6c/bu;
MATIF corn Aug was down €1.25/t to €233.50/t;
Soybeans Jul contract down 11c/bu to 1388.2c/bu;
Winnipeg canola Jul was down C$5.10/t to C$694.20/t;
MATIF rapeseed Aug contract, was down €11.25/t to €437.25/t;
Brent crude Aug was down US$1.09 per barrel to $73.20;
WTI crude Jul was down US$1.15 per barrel to $68.27;
BDI Baltic Dry Index was up 5 points to 1.079;
Dow Jones was down 232.79 points to 33.979,33;
S&P 500 was up 3.58 points to 4.372,59;
NASDAQ Composite up 53.16 points to 13.626,48;
US dollar index (Sep ’23) was down 0.400 points to 102.524;
AUD/USD firmer at US$0.6796;
USD/CAD firmer at $1.3324;
EUR/USD firmer at $1.0824;
USD/RUB firmer at ₽84.0088.
