Daily Market Wire – March 31, 2023

US farm markets were mostly lower on Thursday.

Corn and soybean prices trended 0.15% and 0.19% lower respectively.

The rest of the soy complex was mixed, with soyoil fading more than 1.8% lower, while soymeal moved 0.37% higher.

Wheat prices were also mixed, as Kansas City HRW contracts managed keeping 0.11% gains, and MGEX spring wheat about 0.2%, meanwhile, Chicago SRW contracts suffered a double-digit setback, posting 1.77% losses, at the bell.

In Europe grain and oilseed prices fell sharply.

Oil prices rose more than 1%, on lower U.S. crude stockpiles, and Iraqi supply risks.

The BDI inched lower about 0.3%.

On Wall Street, US stock indexes posted moderate gains, as The strength in chipmakers boosted technology stocks and the overall market.

The DXY fell by -0.47%, on unexpected downward revision of U.S. Q4 GDP, and stronger-than-expected German inflation.

Notably, Chicago wheat May contract was down US12.4 cents to 692.2c/bu;

Kansas wheat May contract was up 1c/bu to 871.4c/bu;

Minneapolis wheat May contract was up 1.6c/bu to 879.6c/bu;

MATIF wheat May contract was down €4.5/t to €261.75/t;

Black Sea wheat Apr contract was down $2/t to $286.75/t;

ASX wheat May contract, was down A$1/t to A$391/t;

US DWI Cash (durum wheat index) was down 0.69c/bu to 852.78c/bu;

1CWAD (Canadian durum) avg reg was down C$0.25/t to C$450.77/t;

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

Chicago corn May down 1c/bu to 649.4c/bu;

MATIF corn Jun was down €2.75/t to €259/t;

Soybeans May contract down 2.6c/bu to 1474.4c/bu;

Winnipeg canola May, was down C$5.4/t to C$764.6/t;

MATIF rapeseed May, was down €12.75/t to €466.75/t;

Brent crude Jun was up US$1.01 per barrel to $78.60;

WTI crude May was up US$1.40 per barrel to $74.37;

BDI Baltic Dry Index was down 4 points to 1.403;

Dow Jones was up 141.43 points to 32.859,03;

S&P 500 was up 23.02 points to 4.050,83;

NASDAQ Composite up 87.24 points to 12.013,47;

US dollar index (Jun ’23) was down 0.477 to 101.821;

AUD/USD firmer at US$0.6707;

USD/CAD weaker at $1.3520;

EUR/USD firmer at $1.0901;

USD/RUB weaker at ₽77.1550.