DAILY MARKET WIRE
August 25, 2023 – Market Update
Saskatchewan producers continued to make progress harvesting their crops this week.
Brazil is set to overtake the U.S. this year as the world’s top corn exporter.
Argentina’s current wheat crop needs precipitation in the coming days.
European wheat prices edged up to a 10-day high.
Turkey’s central bank on Thursday raised the interest rate to 25 percent.
Ukrainian farmers have completed the 2023 wheat harvest.
Malaysian palm oil prices finished more than 1% higher, snapping a two-day downturn.
Aussie harvest is expected to start in mid-September in Qld amid some decent crops.
Kansas wheat Sep contract was down 2c/bu to 753c/bu;
Minneapolis wheat Sep contract was down 9.6c/bu to 774.6c/bu;
MATIF wheat Sep contract, was up €2.75/t to €234.25/t;
ASX wheat Jan 24, was up A$1/t to A$408/t;
Black Sea wheat Sep contract was not quoted;
US DWI Cash (durum wheat index) was down 8.85c/bu to 1,015.29c/bu;
1CWAD (Canadian durum wheat) avg spot prices was up C$0.14/t to C$524.07/t;
EDW (EU durum) Sep contract, was unchanged to €422.25/t;
Chicago corn Sep was down 4c/bu to 472.2c/bu;
MATIF corn Nov was down €0.5/t to €216/t;
Chicago soybeans Sep up 6.2c/bu to 1365.6c/bu;
Winnipeg November canola contract up C$3.4/t to C$809.9/t;
MATIF rapeseed Nov contract, was down €0.5/t to €471.5/t;
Brent crude Oct was up US$0.15 per barrel to $83.36;
WTI crude Oct was up US$0.16 per barrel to $79.05;
BADI (Baltic Dry Index) was down 41 points to 1.110;
Dow Jones was down 373.56 points to 34.099,42;
S&P 500 was down 59.70 points to 4.376,31;
NASDAQ Composite down 257.06 points to 13.463,97;
US dollar index (Sep ’23) was up 0.586 points to 103.919;
AUD/USD weaker at US$0.6417;
USD/CAD firmer at $1.3581;
EUR/USD weaker at $1.0810;
USD/RUB firmer at ₽94.6958.