Daily Market Wire – March 24, 2023

US farm markets, were mixed but mostly lower on Thursday.

The soybean complex suffered the heaviest losses, as beans spilled 2% lower, soymeal fell 2.95%, and soyoil tumbled more than 4.5% lower.

Corn closed 0.28% lower.

The wheat complex was mixed, with Chicago SRW contracts stayed 0.23% in the red, while KC HRW closed up by 1.05%, and MGEX spring wheat was up by 0.9%.

In Europe, wheat set to 18-month low, while rapeseed rose to break a 13-session falling streak.

Oil prices dropped 1%.

The BDI rose about 1.9%.

On Wall Street, US stock indexes posted moderate gains, led by a rally in technology stocks.

The DXY rose by +0.23% recovering from a 6-week low.

Notably, Chicago wheat May contract was down US1.4 cents to 662c/bu;

Kansas wheat May contract was up 8.4c/bu to 819.6c/bu;

Minneapolis wheat May contract was up 7.4c/bu to 841.2c/bu;

MATIF wheat May contract was down €3/t to €245/t;

Black Sea wheat Apr contract was down $1.5/t to $291/t;

ASX wheat May contract, was unchanged to A$386/t;

US DWI Cash (durum wheat index) was down 0.74c/bu to 853.57c/bu;

1CWAD (Canadian durum) avg reg was down C$0.09/t to C$455.75/t;

EDW (EU durum) May contract was down €1.75/t to €426.25/t;

Chicago corn May down 1.6c/bu to 631.6c/bu;

MATIF corn Jun was down €2/t to €242.75/t;

Soybeans May contract down 29c/bu to 1419.4c/bu;

Winnipeg canola May, was up C$15.2/t to C$735.2/t;

MATIF rapeseed May, was up €5.75/t to €436.25/t;

Brent crude May was down US$0.78 per barrel to $75.91;

WTI crude May was down US$0.94 per barrel to $69.96;

BDI Baltic Dry Index was up 28 points to 1.484;

Dow Jones was up 75.14 points to 32.105,25;

S&P 500 was up 11.75 points to 3.948,72;

NASDAQ Composite up 117.44 points to 11.787,40;

US dollar index (Jun ’23) was up 0.235 to 102.207;

AUD/USD firmer at US$0.6683;

USD/CAD weaker at $1.3713;

EUR/USD weaker at $1.0830;

USD/RUB weaker at ₽75.9965.