US farm markets slumped on Tuesday.
Corn prices tumbled 2.24%.
Soybeans were down 1.71%.
The rest of the soy complex was mixed, as soymeal fell 1.76%, while soyoil shot up 1.75%.
The wheat complex crumbled, with Chicago SRW tumbling 5.42%, Kansas City HRW lost 3.32%, and MGEX HRS fell 3.36%.
Corn and soybean fell pressured by forecasts for much-needed rains in the Midwest.
Wheats tumbled, as worries subsided about political instability in Russia, and the Northern Hemisphere winter wheat harvest progressed.
In Europe, we saw another highly volatile session, with all three markets falling on better weather conditions, Russian wheat competitiveness, and harvest pressure, begun in France too.
Oil prices slumped about 2.5% on interest rate hike worries.
The Baltic Exchange’s main sea freight index in London fell 4.1% recording its biggest daily percentage decline in nearly a month.
On Wall Street, US stock indexes rallied on strong U.S. economic reports.
The DXY fell -0.2%, with the euro seeing support from hawkish Lagarde comments.
Notably, Chicago wheat July contract was down 39.2c/bu to 685c/bu;
Kansas wheat Jul contract was down 28.6c/bu to 837.6c/bu;
Minneapolis wheat Jul contract was down 29c/bu to 833.2c/bu;
MATIF wheat Sep contract, was down €9.75/t to €236.5/t;
ASX wheat Jul contract, was unchanged to A$394/t;
BlackSea wheat Jul contract was down $1.5/t to $235.5/t;
US DWI Cash (durum wheat index) was down 4.88c/bu to 789.24c/bu;
1CWAD (Canadian durumwheat) avg reg was down C$0.23/t to C$389.93/t;
EDW (EU durum) Sep contract, was unchanged to €362.75/t;
Chicago corn Jul was down 14.2c/bu to 623c/bu;
MATIF corn Aug was down €7.5/t to €239/t;
Soybeans Jul contract down 26c/bu to 1495c/bu;
Winnipeg canola Jul was down C$9.30/t to C$739.3/t;
MATIF rapeseed Aug contract, was down €7.75/t to €434.25/t;
Brent crude Aug was down US$1.92 per barrel to $72.26;
WTI crude Aug was down US$1.67 per barrel to $67.70;
BDI Baltic Dry Index was down 50 points to 1.183;
Dow Jones was up 212.03 points to 33.926,74;
S&P 500 was up 49.59 points to 4.378,41;
NASDAQ Composite up 219.89 points to 13.555,67;
US dollar index (Sep ’23) was down 0.207 points to 102.127;
AUD/USD firmer at US$0.6686;
USD/CAD firmer at $1.3191;
EUR/USD firmer at $1.0960;
USD/RUB firmer at ₽85.4719.
