US farm markets closed mostly higher on Friday, benefiting from some strong macroeconomic tailwinds that pushed a broad set of other commodities higher, including livestock, energy and much more.

Corn prices, indeed, jumped 2.78% higher.

Soybean prices gained 1.73%, thoug the rest of the soy complex was mixed, with soymeal easing 0.9% lower, while soyoil jumped 3.43% higher.

Wheat prices enjoyed of spillover support from other commodities, with some contracts capturing double-digit gains, as Chicago SRW added 1.35% to the previous close, Kansas City HRW gained 1.21%, and MGEX HRS rose 2.38%.

In Europe, wheat rose for a second straight session, recovering further from a 22-month low, though over the week it was down nearly 2%.

Rapeseed rose in the wake of palm and other oils higher.

Oil prices rose over 2% after US debt deal and jobs data, but focus remained on June 4 OPEC+ meeting.

The Baltic Exchange’s main sea freight index in London fell 1.9% and saw its worst week in nearly five months.

On Wall Street, US stock indexes rushed higher after a strong report on the U.S. job market suggested a recession may not be as close as feared, while US debt default was averted.

The DXY rose by +0.42%, with the dollar recovering from a 1-week low, as T-note yields jumped on the larger-than-expected increase in U.S. May nonfarm payrolls.

Notably, Chicago wheat July contract was up 8.2c/bu to 619c/bu;

Kansas wheat Jul contract was up 9.6c/bu to 812.2c/bu;

Minneapolis wheat Jul contract was up 18.6c/bu to 807.6c/bu;

MATIF wheat Sep contract, was up €3.25/t to €224/t;

BlackSea wheat Jul contract was unchanged to $252.75/t;

ASX wheat Jul contract, was down A$7/t to A$372/t;

US DWI Cash (durum wheat index) was unchanged to 786.18c/bu;

1CWAD (Canadian durumwheat) avg reg was down C$1.85/t to C$393.05/t;

EDW (EU durum) Sep contract, was unchanged to €351.75/t;

Chicago corn Jul was up 16.4c/bu to 609c/bu;

MATIF corn Aug was up €4.25/t to €217.5/t;

Soybeans Jul contract up 23c/bu to 1352.6c/bu;

Winnipeg canola Jul was up C$6.5/t to C$658/t;

MATIF rapeseed Aug contract, was up €6.75/t to €406.5/t;

Brent crude Aug was up US$1.85 per barrel to $76.13;

WTI crude Jul was up US$1.64 per barrel to $71.74;

BDI Baltic Dry Index was down 18 points to 919;

Dow Jones was up 701.19 points to 33.762,76;

S&P 500 was up 61.35 points to 4.282,37;

NASDAQ Composite up 139.78 points to 13.240,77;

US dollar index (Sep ’23) was up 0.430 points to 103.537;

AUD/USD firmer at US$0.6605;

USD/CAD weaker at $1.3422;

EUR/USD weaker at $1.0707;

USD/RUB weaker at ₽80.7903.

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