US farm markets were mixed but mostly higher on Tuesday.
Wheat prices gathered double-digit gains, with Chicago SRW rising 2.64%, Kansas City HRW gained 1.91%, and MGEX HRS added +1.39%.
Corn prices also trended higher, up 1.14%.
Soybean prices, in contrast, failed to follow suit, drifting 1.4% lower, with soymeal slumping 1.41%, while soyoil tumbled by 2.07%.
In Europe wheat prices rebounded, in an uncertain geopolitical context, while rapeseed slightly rose, in the wake of oil prices higher.
Oil prices rose about 1%, on forecasts for a tighter gasoline market and a warning from the Saudi energy minister.
The Baltic Exchange’s main sea freight index in London slumped to its lowest level in over two-months, down 1.3%.
On Wall Street, US stock indexes posted moderate losses as U.S. debt ceiling talks drag on.
The DXY rose by +0.30% and posted a 2-month high.
Notably, Chicago wheat July contract was up 16c/bu to 622.2c/bu;
Kansas wheat Jul contract was up 15.6c/bu to 841.4c/bu;
Minneapolis wheat Jul contract was up 11.2c/bu to 820.6c/bu;
MATIF wheat Sep contract, was up €5.75/t to €226.75/t;
Black Sea wheat June contract was unchanged to $263.75/t;
ASX wheat Jul contract, was up A$3/t to A$372/t;
US DWI Cash (durum wheat index) was unchanged to 805.29c/bu;
1CWAD (Canadian durum) avg reg was up C$0.17/t to C$402.07/t;
EDW (EU durum) Sep contract, was down €2/t to €353/t;
Chicago corn Jul was up 6.4c/bu to 577.4c/bu;
MATIF corn Jun, was up €0.75/t to €218.25/t;
Soybeans Jul contract down 18.6c/bu to 1322.4c/bu;
Winnipeg canola Jul was up C$4.2/t to C$701.6/t;
MATIF rapeseed Aug contract, was up 0.5/t to €393.25/t;
Brent crude Jul was up US$0.85 per barrel to $76.84;
WTI crude Jul was up US$0.86 per barrel to $72.91;
BDI Baltic Dry Index was down 17 points to 1.348;
Dow Jones was down 231.07 points to 33.055,51;
S&P 500 was down 47.05 points to 4.145,58;
NASDAQ Composite down 160.53 points to 12.560,24;
US dollar index (Jun ’23) was up 0.306 points to 103.385;
AUD/USD weaker at US$0.6609;
USD/CAD weaker at $1.3503;
EUR/USD weaker at $1.0769;
USD/RUB weaker at ₽80.1478.
