US farm markets were mixed, but mostly higher on Tuesday.
Corn prices saw the most upside, rising 1.76%, after USDA cut quality ratings more than expected.
Soybean prices made modest inroads up 0.24%, as traders began squaring their positions ahead of the next WASDE report from USDA.
The rest of the soy complex was mixed, with soymeal down 1.12%, while soyoil prices jumped 3.37% higher.
Wheat prices also were mixed but mostly lower, as Chicago SRW added 0.60%, meanwhile, Kansas City HRW dropped 0.24%, and MGEX HRS fell 0.46%.
In Europe, grain prices were mixed, with wheat easing slightly, while corn and rapeseed extended their gains on dry weather forecasts.
Oil prices eased on fears about global economic growth.
The Baltic Exchange’s main sea freight index in London posted its biggest single-day gain since mid-March, rising 8.2%.
On Wall Street, US stock indexes rose modestly, as regional bank stocks rallied, while higher bond yields limited gains.
The DXY rose by +0.13%, as higher US T-note yields strengthened the dollar’s interest rate differentials, meanwhile, weaker-than-expected Eurozone economic news, weighed on the euro.
Notably, Chicago wheat July contract was up 3.6c/bu to 627.6c/bu;
Kansas wheat Jul contract was down 2c/bu to 820.2c/bu;
Minneapolis wheat Jul contract was down 3.6c/bu to 816.4c/bu;
MATIF wheat Sep contract, was down €0.25/t to €230.25/t;
Black Sea wheat Jul contract was down $1.25/t to $251.5/t;
ASX wheat Jul contract, was up A$9.5/t to A$383.5/t;
US DWI Cash (durum wheat index) was up 1.04c/bu to 795.88c/bu;
1CWAD (Canadian durum wheat) avg reg was down C$0.16/t to C$392.21/t;
EDW (EU durum) Sep contract, was up €4/t to €355.75/t;
Chicago corn Jul was up 10.4c/bu to 608c/bu;
MATIF corn Aug was up €4/t to €226/t;
Soybeans Jul contract up 3.2c/bu to 1353.2c/bu;
Winnipeg canola Jul was up C$14.8/t to C$669.9/t;
MATIF rapeseed Aug contract, was up €6/t to €429.5/t;
Brent crude Aug was down US$0.42 per barrel to $76.29;
WTI crude Jul was down US$0.41 per barrel to $71.74;
BDI Baltic Dry Index was up 77 points to 1.016;
Dow Jones was up 10.42 points to 33.573,28;
S&P 500 was up 10.06 points to 4.283,85;
NASDAQ Composite up 46.99 points to 13.276,42;
US dollar index (Sep ’23) was up 0.139 points to 103.679;
AUD/USD firmer at US$0.6670;
USD/CAD weaker at $1.3403;
EUR/USD weaker at $1.0693;
USD/RUB firmer at ₽81.3473.
