US farm markets settled red on Friday.

Corn prices closed the end week session 0.14% weaker.

Soybeans ended near their lows, down 1.95%.

The rest of the soy complex was also in the red, with soymeal stumbling 1.21% lower, while soyoil faced more modest cuts of around 0.04%.

Wheat prices were slashed again, with Kansas City HRW leading the market lower, down 3.82%.

Minneapolis HRS ended the session with 2.96% losses.

Chicago SRW was “the strongest”, dropping by 1.1%.

Concerns over whether US lawmakers will increase the debt ceiling limit, and seasonal pressures, including planting progress in the U.S. and harvest progress in Brazil, prompted the sell-off.

In Europe grain prices recovered some losses suffered in the previous days, while rapeseed fell to a two-year low.

Oil prices eased as US debt ceiling talks paused, but both benchmarks notched their first weekly gain in a month.

The Baltic Exchange’s main sea freight index in London fell 1.3%, posting its worst week in more than three months.

On Wall Street, US stock indexes posted modest losses on debt ceiling uncertainty.

The DXY fell by -0.36%, with the dollar slipping after the snag in US debt ceiling talks and dovish Powell comments.

Notably, Chicago wheat July contract was down 6.6c/bu to 605c/bu;

Kansas wheat Jul contract was down 32.6c/bu to 824.2c/bu;

Minneapolis wheat Jul contract was down 24.4c/bu to 804c/bu;

MATIF wheat Sep contract, was up €0.25/t to €222.5/t;

BlackSea wheat June contract was unchanged to $265.5/t;

ASX wheat Jul contract, was unchanged to A$372.5/t;

US DWI Cash (durumwheat index) was down 6.27c/bu 805.94c/bu;

1CWAD (Canadian durum) avg reg was up C$0.93/t to C$402.57/t;

EDW (EU durum) Sep contract, was unchanged to €358.75/t;

Chicago corn Jul was down 0.6c/bu to 554.4c/bu;

MATIF corn Jun, was up €1.5/t to €220.75/t;

Soybeans Jul contract down 26c/bu to 1307.2c/bu;

Winnipeg canola Jul was down C$5.5/t to C$697.4/t;

MATIF rapeseed Aug contract, was down 7.75/t to €395.75/t;

Brent crude Jul was down US$0.28 per barrel to $75.58;

WTI crude Jun was down US$0.31 per barrel to $71.55;

BDI Baltic Dry Index was down 18 points to 1.384;

Dow Jones was down 109.28 points to 33.426,63;

S&P 500 was down 6.07 points to 4.191,98;

NASDAQ Composite down 30.94 points to 12.657,90;

US dollar index (Jun ’23) was down 0.376 to 103.079;

AUD/USD firmer at US$0.6645;

USD/CAD weaker at $1.3494;

EUR/USD firmer at $1.0805;

USD/RUB weaker at ₽80.0947.

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