DAILY MARKET WIRE
December 1, 2023 – Market Update
The comment
US farm markets were mixed but mostly higher, on Thursday.
Chicago wheat, corn rallied, while soybeans eased.
In Argentina, where the wheat harvest is currently underway, the Buenos Aires Stock Exchange is more optimistic.
European wheat prices ticked up, rapeseed faced some profit-taking.
According to the State Customs Service, since the beginning of 2023/24 MY, as of Dec 1, Ukraine exported 13.097 mln tonnes of grains and pulses.
Russian AgMin plans to begin purchasing grain for state intervention fund on Dec 11.
Malaysian palm oil prices ticked up.
Aussie local market is trying to ascertain the implications of the recent rainfall.
Chicago wheat, corn rallied, while soybeans eased.
In Argentina, where the wheat harvest is currently underway, the Buenos Aires Stock Exchange is more optimistic.
European wheat prices ticked up, rapeseed faced some profit-taking.
According to the State Customs Service, since the beginning of 2023/24 MY, as of Dec 1, Ukraine exported 13.097 mln tonnes of grains and pulses.
Russian AgMin plans to begin purchasing grain for state intervention fund on Dec 11.
Malaysian palm oil prices ticked up.
Aussie local market is trying to ascertain the implications of the recent rainfall.
The markets
Chicago wheat March ’24 contract was up 12.2c/bu to 598c/bu;
Kansas wheat Mar contract was up 8.6c/bu to 643c/bu;
Minneapolis wheat Mar contract was up 4.2c/bu to 729.4c/bu;
MATIF wheat Mar contract, was up €0.5/t to €226.25/t;
ASX wheat Jan ’24, was up A$3/t to A$393/t;
Black Sea wheat has not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was unchanged to 922.97c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$0.10/t to C$461.40/t;
EDW (EU durum) Mar contract, was unchanged to €395/t;
Chicago corn Mar was up 7c/bu to 482.6c/bu;
MATIF corn Mar was up €0.5/t to €199.25/t;
Chicago soybeans Jan down 4.2c/bu to 1342.6c/bu;
Winnipeg canola Jan down C$2/t to C$700.3/t;
MATIF rapeseed Feb contract, was down €1.5/t to €450.75/t;
Brent crude Feb was down US$2.02 per barrel to $80.86;
WTI crude Jan was down US$1.90 per barrel to $75.96;
BADI (Baltic Dry Index) was up 241 points to 2.937;
Dow Jones was up 520.47 points to 35.950,89;
S&P 500 was up 17.22 points to 4.567,80;
NASDAQ Composite down 32.27 points to 14.226,22;
US dollar index (Mar ’24) was up 0.752 points to 103.053;
AUD/USD weaker at US$0.6604;
USD/CAD weaker at $1.3561;
EUR/USD weaker at $1.0885;
USD/RUB firmer at ₽89.9708.
Kansas wheat Mar contract was up 8.6c/bu to 643c/bu;
Minneapolis wheat Mar contract was up 4.2c/bu to 729.4c/bu;
MATIF wheat Mar contract, was up €0.5/t to €226.25/t;
ASX wheat Jan ’24, was up A$3/t to A$393/t;
Black Sea wheat has not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was unchanged to 922.97c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$0.10/t to C$461.40/t;
EDW (EU durum) Mar contract, was unchanged to €395/t;
Chicago corn Mar was up 7c/bu to 482.6c/bu;
MATIF corn Mar was up €0.5/t to €199.25/t;
Chicago soybeans Jan down 4.2c/bu to 1342.6c/bu;
Winnipeg canola Jan down C$2/t to C$700.3/t;
MATIF rapeseed Feb contract, was down €1.5/t to €450.75/t;
Brent crude Feb was down US$2.02 per barrel to $80.86;
WTI crude Jan was down US$1.90 per barrel to $75.96;
BADI (Baltic Dry Index) was up 241 points to 2.937;
Dow Jones was up 520.47 points to 35.950,89;
S&P 500 was up 17.22 points to 4.567,80;
NASDAQ Composite down 32.27 points to 14.226,22;
US dollar index (Mar ’24) was up 0.752 points to 103.053;
AUD/USD weaker at US$0.6604;
USD/CAD weaker at $1.3561;
EUR/USD weaker at $1.0885;
USD/RUB firmer at ₽89.9708.
