December 15, 2023 – Market Update

The comment

US farm markets closed mostly higher, on Thursday.
Wheat rebounded after Wednesday’s strong selling pressure.
The dollar’s collapse to 4-1/2 month lows supported other grain prices.
Some much-needed showers will arrive in the northern third Brazil’s crop areas late next week.
Argentina’s government has reopened its grain export registry.
European wheat prices fell for a second day in a row, as the euro hit a two-week high against the dollar.
The United Kingdom’s wheat harvest this year is estimated to have fallen to 13.98 million metric tons.
Saudi Arabia’s state wheat buying agency GFSA on Thursday said it has issued an international tender to purchase 715,000 metric tons of milling wheat.
Ukraine’s grain exports have fallen to around 15.3 million metric tons so far in the 2023/24 July-June marketing season.
Russian 2023 grain harvest will be more than 146 MMT in net weight, one of the highest results in history.
Chinese corn breeders are preparing for the planting of more than double the amount of genetically modified corn next year than in 2023.
Malaysian palm oil prices rose for the first time in three days, but weak exports capped the upside.
Prices for Aussie feed wheat and barley have fallen in the past week as bigger-than-expected yields hit the bins in Victoria.

The markets

Chicago wheat March ’24 contract was up 10.4c/bu to 615.6c/bu;
Kansas wheat Mar contract was up 4.4c/bu to 636.4c/bu;
Minneapolis wheat Mar contract was up 3.6c/bu to 717.2c/bu;
MATIF wheat Mar contract, was down €4.5/t to €223/t;
ASX wheat Jan ’24, was down A$7.3/t to A$385/t;
Black Sea wheat has not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was unchanged to 905.97c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$1.52/t to C$455.34/t;
EDW (EU durum) Mar contract, was unchanged to €389.5/t;
Chicago corn Mar was down 0.2c/bu to 479.2c/bu;
MATIF corn Mar was down €1.75/t to €198.75/t;
Chicago soybeans Jan up 6.4c/bu to 1314c/bu;
Winnipeg canola Jan down C$8.6/t to C$651.7/t;
MATIF rapeseed Feb contract, was down €5/t to €429.5/t;
Brent crude Feb was downup US$2.35 per barrel to $76.61;
WTI crude Jan was up US$2.11 per barrel to $71.58;
BADI (Baltic Dry Index) was down 27 points to 2.411;
Dow Jones was up 158.11 points to 37.248,35;
S&P 500 was up 12.46 points to 4.719,55;
NASDAQ Composite up 27.59 points to 14.761,56;
US dollar index (Mar ’24) was down 0.899 points to 101.578;
AUD/USD firmer at US$0.6696;
USD/CAD weaker at $1.3405;
EUR/USD firmer at $1.0992;
USD/RUB firmer at ₽89.4510.

That’s all, thank you.
We wish you a nice day.

Author: Sandro F. Puglisi

My Agile Privacy
Questo sito utilizza cookie tecnici e di profilazione. Cliccando su accetta si autorizzano tutti i cookie di profilazione. Cliccando su rifiuta o la X si rifiutano tutti i cookie di profilazione. Cliccando su personalizza è possibile selezionare quali cookie di profilazione attivare.
Attenzione: alcune funzionalità di questa pagina potrebbero essere bloccate a seguito delle tue scelte privacy