US farm markets were mixed but mostly higher on Wednesday.
Corn prices rose 1.47%, soybeans firmed 0.48%, soyoil also firmed around 1.6% higher, while soymeal were trimmed by 0.7%.
Wheat prices grabbed substantial gains, on rising concerns after Russia accused Ukraine of trying to assassinate President Putin in a drone attack on the Kremlin.
Thus, Chicago SRW rose 5.01%, Kansas City HRW climbed 6.05%, and MGEX HRS gained 3.88%.
In Europe, after the strong sell-off in recent days, news from Moscow triggered a rebound in wheat prices.
Both corn and rapeseed, by contrast, retreated under the bearish influence of crude oil and strength of the euro.
Oil prices fell about 4%, extending steep losses from the previous session after Fed raised interest rates and investors fretting about the economy.
The Baltic Exchange’s main sea freight index in London edged up 0.39%.
On Wall Street, US stock indexes closed moderately lower as Powell dashed hopes of Fed rate cuts.
The DXY fell by -0.6%, with the dollar undercut by lower T-note yields.
Notably, Chicago wheat July contract was up 30.4c/bu to 639.6c/bu;
Kansas wheat Jul contract was up 44.6c/bu to 785c/bu;
Minneapolis wheat Jul contract was up 30c/bu to 803.4c/bu;
MATIF wheat Sep contract, was up €5/t to €235/t;
Black Sea wheat June contract was up $2/t to $274.5/t;
ASX wheat Jul contract, was down A$2 to A$372/t;
US DWI Cash (durum wheat index) was up 1.62c/bu to 807.06c/bu;
1CWAD (Canadian durum) avg reg was down C$0.11/t to C$431.35/t;
EDW (EU durum) Sep contract, was up €5.75/t to €364.25/t;
Chicago corn Jul up 8.4c/bu to 588.4c/bu;
MATIF corn Jun, was down €1.25/t to €226.5/t;
Soybeans Jul contract up 6.6c/bu to 1417.4c/bu;
Winnipeg canola Jul was up C$6.5/t to C$715.9/t;
MATIF rapeseed Aug contract, was down 4.5/t to €436.5/t;
Brent crude Jul was down US$2.99 per barrel to $72.33;
WTI crude Jun was down US$3.06 per barrel to $68.60;
BDI Baltic Dry Index, was up 6 points to 1.558;
Dow Jones was down 270.29 points to 33.414,24;
S&P 500 was down 28.83 points to 4.090,75;
NASDAQ Composite down 55.18 points to 12.025,33;
US dollar index (Jun ’23) was down 0.610 to 101.115;
AUD/USD firmer at US$0.6670;
USD/CAD weaker at $1.3614;
EUR/USD firmer at $1.1059;
USD/RUB weaker at ₽79.4954.
