US farm markets sold off on Thursday.
Wheat prices tumbled, with Chicago down 3.16%, Kansas City HRW falling 2.87%, and MGEX spring wheat, 2.5% lower.
Corn also faced double-digit drops, down 2.24%.
Soybeans were relatively spared, but still trended 0.46% lower.
The rest of the soy complex was mixed, as soyoil tumbled more than 3.4% lower, while soymeal managed modest gains of 0.25% at the bell.
In Europe, grain and oilseed markets on Euronext, didn’t seem to hit a bottom, with rapeseed now below €500/t, the lowest level since Sep ’21.
Oil prices slipped more then 1% to two-week low.
The BDI climbed to 11-week high, up 4%.
US stocks settled sharply lower, with the S&P 500 down 1.9%, and the Nasdaq Composite more then 2% lower.
The DXY fell by 0.32%.
Notably, Chicago wheat May contract was down US21.6 cents to 665.6c/bu;
Kansas wheat May contract was down 23c/bu to 777.2c/bu;
Minneapolis wheat May contract was down 21c/bu to 817.4c/bu;
MATIF wheat May contract was down €3.25/t to €263.5/t;
Black Sea wheat Apr contract was down $1.25/t to $295.25/t;
ASX wheat May contract, was up A$1/t to A$400/t;
US DWI Cash (durum wheat index) was down 2.78c/bu to 858.47c/bu;
1CWAD (Canadian durum) avg reg was up C$0.13/t to C$458.80/t;
EDW (EU durum) May contract was unch to €427/t;
Chicago corn May down 14c/bu to 611.4c/bu;
MATIF corn Jun was down €1.75/t to €260.25/t;
Soybeans May contract down 7c/bu to 1510.6c/bu;
Winnipeg canola May, was down C$15.8/t to C$792.3/t;
MATIF rapeseed May, was down €14.25/t to €499/t;
Brent crude May was down US$1.07 per barrel to $81.59;
WTI crude Apr was down US$0.94 per barrel to $75.72;
BDI Baltic Dry Index was up 52 points to 1379;
Dow Jones was down 543.54 points to 32.254,86;
S&P 500 was down 73.69 points to 3.918,32;
NASDAQ Composite down 237.65 points to 11.338,35;
US dollar index (Jun ’23) was down 0.341 to 104.908;
AUD/USD firmer at US$0.6590;
USD/CAD firmer at $1.3827;
EUR/USD firmer at $1.0580;
USD/RUB weaker at ₽75.8498.
