Daily Market Wire – October 31, 2022

Last Friday grain prices were mixed with US farm markets mostly weaker, while European grain prices gained a bit.

Particularly, Chicago wheat Dec contract was down US9.2 cents to 829.2c/bu;

Kansas wheat Dec contract was down 7.2c/bu to 925c/bu;

Minneapolis wheat Dec contract was down 5.4c/bu to 945c/bu;

MATIF wheat Dec contract was up €1/t to €337.5/t;

Black Sea wheat Nov contract was down $4/t to $313.75/t;

ASX wheat Jan 2023 was down $5/t to A$483/t;

US DWI Cash (durum wheat index) was up 0.31c/bu to 915.94c/bu;

1CWAD (Canadian durum) regional avg price, was up C$0.73/t to C$486.62/t;

EDW (European durum) Dec contract, was down €24.5/t to €497/t;

MATIF corn Nov contract was up €1.75/t to €337/t;

Chicago corn Dec contract down 1.4c/bu to 680.6c/bu;

Soybeans Nov contract up 5.4c/bu to 1387.6c/bu;

Winnipeg canola Nov contract, was up C$6.9/t to C$909.1/t;

MATIF rapeseed Nov contract was down €15.5/t to €636.5/t.

However, the end week news about the suspension of the Black Sea Grain Deal, likely will set global prices higher, to start the week.

In Asian trading, indeed, US wheat prices have rallied between 3-5pc on this morning, corn rose over 2%, soybean added around 1%.

In energy markets, Brent crude Dec was down US$1.19 per barrel to $95.77, last Friday;

WTI crude Dec was down US$1.18 per barrel to $87.90.

In ocean freight markets, the BDI Baltic Dry Index closed the week down 78 points to 1,534;

In equity markets the Dow Jones was up 828.52 points to 32.861,80;

The S&P 500 was up 93.76 points to 3.901,06;

The NASDAQ Composite up 309.78 points to 11.102,45;

In currency trading, the US dollar index (Dec ’22) was up 0.153 to 110.606;

AUD/USD weaker at US$0.6411;

USD/CAD firmer at $1.3600;

EUR/USD firmer at $0.9963;

USD/RUB weaker at ₽61.5200.

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