DAILY MARKET WIRE
December 7, 2023 – Market Update
The comment
US farm markets were mixed but mostly lower, on Wednesday.
European wheat prices rose to a three-week high.
Ukraine is poised to export up to 50 mln tonnes of grains and oilseeds from the 2023 harvest, along with approximately 10 mln tonnes of oil and meal.
China imported 7.92 million metric tons of soybeans in November.
Malaysian palm oil prices fell for a fourth session, to their lowest closing in more than four weeks.
Aussie feed wheat and barley have traded mostly steady to firmer in the past week.
European wheat prices rose to a three-week high.
Ukraine is poised to export up to 50 mln tonnes of grains and oilseeds from the 2023 harvest, along with approximately 10 mln tonnes of oil and meal.
China imported 7.92 million metric tons of soybeans in November.
Malaysian palm oil prices fell for a fourth session, to their lowest closing in more than four weeks.
Aussie feed wheat and barley have traded mostly steady to firmer in the past week.
The markets
Chicago wheat March ’24 contract was up 2.2c/bu to 633.4c/bu;
Kansas wheat Mar contract was down 6.6c/bu to 656c/bu;
Minneapolis wheat Mar contract was down 8.4c/bu to 730.4c/bu;
MATIF wheat Mar contract, was up €2.25/t to €232/t;
ASX wheat Jan ’24, was down A$1/t to A$395/t;
Black Sea wheat has not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was down 6.85c/bu to 912.83c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$1.86/t to C$455/t;
EDW (EU durum) Mar contract, was unchanged to €395/t;
Chicago corn Mar was down 6.2c/bu to 484.2c/bu;
MATIF corn Mar was up €0.25/t to €202.5/t;
Chicago soybeans Jan down 10c/bu to 1295.4c/bu;
Winnipeg canola Jan down C$15.7/t to C$649.9/t;
MATIF rapeseed Feb contract, was down €8.75/t to €435.5/t;
Brent crude Feb was down US$2.90 per barrel to $74.30;
WTI crude Jan was down US$2.94 per barrel to $69.38;
BADI (Baltic Dry Index) was down 295 points to 2.848;
Dow Jones was down 70.13 points to 36.054,43;
S&P 500 was down 17.84 points to 4.549,34;
NASDAQ Composite down 83.20 points to 14.146,71;
US dollar index (Mar ’24) was up 0.093 points to 103.738;
AUD/USD weaker at US$0.6548;
USD/CAD firmer at $1.3593;
EUR/USD weaker at $1.0764;
USD/RUB firmer at ₽92.9482.
Kansas wheat Mar contract was down 6.6c/bu to 656c/bu;
Minneapolis wheat Mar contract was down 8.4c/bu to 730.4c/bu;
MATIF wheat Mar contract, was up €2.25/t to €232/t;
ASX wheat Jan ’24, was down A$1/t to A$395/t;
Black Sea wheat has not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was down 6.85c/bu to 912.83c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$1.86/t to C$455/t;
EDW (EU durum) Mar contract, was unchanged to €395/t;
Chicago corn Mar was down 6.2c/bu to 484.2c/bu;
MATIF corn Mar was up €0.25/t to €202.5/t;
Chicago soybeans Jan down 10c/bu to 1295.4c/bu;
Winnipeg canola Jan down C$15.7/t to C$649.9/t;
MATIF rapeseed Feb contract, was down €8.75/t to €435.5/t;
Brent crude Feb was down US$2.90 per barrel to $74.30;
WTI crude Jan was down US$2.94 per barrel to $69.38;
BADI (Baltic Dry Index) was down 295 points to 2.848;
Dow Jones was down 70.13 points to 36.054,43;
S&P 500 was down 17.84 points to 4.549,34;
NASDAQ Composite down 83.20 points to 14.146,71;
US dollar index (Mar ’24) was up 0.093 points to 103.738;
AUD/USD weaker at US$0.6548;
USD/CAD firmer at $1.3593;
EUR/USD weaker at $1.0764;
USD/RUB firmer at ₽92.9482.
