DAILY MARKET WIRE
November 15, 2023 – Market Update
The comment
US farm markets closed mixed on Tuesday.
The dollar index sank 1.50% and posted a 2-1/4 month low.
Corn and soybean rose slightly in a choppy session, while winter wheats suffered small losses.
Conab said as at 11 Nov, the Brazilian 2023-24 first maize crop planting was 46% complete, soybean at 58%. Wheat harvest was 87pc complete.
European wheat prices eased, while rapeseed returned to test their highest level in a month.
Ukrainian farmers had sown about 5.7 million hectares of winter crops as of Nov 14.
As of November 14, the amount of outstanding Russian wheat sales reached 2.4Mt.
Malaysian palm oil prices closed more than 2% higher, after a long holiday weekend.
Aussie canola jumped yesterday, with cereals also seeing some gains.
The dollar index sank 1.50% and posted a 2-1/4 month low.
Corn and soybean rose slightly in a choppy session, while winter wheats suffered small losses.
Conab said as at 11 Nov, the Brazilian 2023-24 first maize crop planting was 46% complete, soybean at 58%. Wheat harvest was 87pc complete.
European wheat prices eased, while rapeseed returned to test their highest level in a month.
Ukrainian farmers had sown about 5.7 million hectares of winter crops as of Nov 14.
As of November 14, the amount of outstanding Russian wheat sales reached 2.4Mt.
Malaysian palm oil prices closed more than 2% higher, after a long holiday weekend.
Aussie canola jumped yesterday, with cereals also seeing some gains.
The markets
Chicago wheat Dec contract was down 7c/bu to 572c/bu;
Kansas wheat Dec contract was down 1.6c/bu to 639.6c/bu;
Minneapolis wheat Dec contract was up 5.6c/bu to 734.4c/bu;
MATIF wheat Dec contract, was down €2/t to €231.75/t;
ASX wheat Jan ’24, was up A$5/t to A$392/t;
Black Sea wheat Dec contract not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was down 7.19c/bu to 907.14c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$2.82/t to C$465.75/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn Dec was up 1c/bu to 478.2c/bu;
MATIF corn Mar was down €0.25/t to €208.25/t;
Chicago soybeans Jan up 7.2c/bu to 1389.6c/bu;
Winnipeg canola Jan up C$12.8/t to C$713.9/t;
MATIF rapeseed Feb contract, was up €3/t to €446/t;
Brent crude Jan was down US$0.05 per barrel to $82.47;
WTI crude Dec was unchanged to $78.26;
BADI (Baltic Dry Index) was up 7 points to 1.662;
Dow Jones was up 489.83 points to 34.827,70;
S&P 500 was up 84.15 points to 4.495,70;
NASDAQ Composite up 326.64 points to 14.094,38;
US dollar index (Dec ’23) was down 1.596 points to 103.907;
AUD/USD firmer at US$0.6507;
USD/CAD weaker at $1.3692;
EUR/USD firmer at $1.0879;
USD/RUB weaker at ₽90.5209.
Kansas wheat Dec contract was down 1.6c/bu to 639.6c/bu;
Minneapolis wheat Dec contract was up 5.6c/bu to 734.4c/bu;
MATIF wheat Dec contract, was down €2/t to €231.75/t;
ASX wheat Jan ’24, was up A$5/t to A$392/t;
Black Sea wheat Dec contract not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was down 7.19c/bu to 907.14c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$2.82/t to C$465.75/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn Dec was up 1c/bu to 478.2c/bu;
MATIF corn Mar was down €0.25/t to €208.25/t;
Chicago soybeans Jan up 7.2c/bu to 1389.6c/bu;
Winnipeg canola Jan up C$12.8/t to C$713.9/t;
MATIF rapeseed Feb contract, was up €3/t to €446/t;
Brent crude Jan was down US$0.05 per barrel to $82.47;
WTI crude Dec was unchanged to $78.26;
BADI (Baltic Dry Index) was up 7 points to 1.662;
Dow Jones was up 489.83 points to 34.827,70;
S&P 500 was up 84.15 points to 4.495,70;
NASDAQ Composite up 326.64 points to 14.094,38;
US dollar index (Dec ’23) was down 1.596 points to 103.907;
AUD/USD firmer at US$0.6507;
USD/CAD weaker at $1.3692;
EUR/USD firmer at $1.0879;
USD/RUB weaker at ₽90.5209.
