November 16, 2023 – Market Update

The comment

US farm markets were mixed but mostly lower, on Wednesday.
Brazil’s Anec estimates that the country’s corn exports will reach 8.3 MMT in November.
European grain and oilseed prices fell.
ODC Tunisia issued a second tender this week to purchase one lot of 25,000 metric tons durum wheat.
Ukraine is launching an insurance program for shipping vessels.
Russia’s Ag Ministry reported that as at 14 Nov, sowing of 2024-25 winter grains reached 18.5 million hectares.
Malaysian palm oil prices closed higher on Wednesday, extending gains for a third consecutive session.
Aussie local markets ended the session a touch softer yesterday.

The markets

Chicago wheat Dec contract was down 11.4c/bu to 560.4c/bu;
Kansas wheat Dec contract was unchanged to 639.6c/bu;
Minneapolis wheat Dec contract was up 0.6c/bu to 735.2c/bu;
MATIF wheat Dec contract, was down €3.5/t to €228.25/t;
ASX wheat Jan ’24, was down A$1/t to A$391/t;
Black Sea wheat Dec contract not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was up 16.45c/bu to 923.59c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$0.10/t to C$465.65/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn Dec was down 7.4c/bu to 470.6c/bu;
MATIF corn Mar was down €1/t to €207.25/t;
Chicago soybeans Jan down 4.6c/bu to 1385c/bu;
Winnipeg canola Jan up C$5.6/t to C$719.5/t;
MATIF rapeseed Feb contract, was down €3.75/t to €442.25/t;
Brent crude Jan was down US$1.29 per barrel to $81.18;
WTI crude Dec was down US$1.60 per barrel to $76.66;
BADI (Baltic Dry Index) was up 26 points to 1.688;
Dow Jones was up 163.51 points to 34.991,21;
S&P 500 was up 7.18 points to 4.502,88;
NASDAQ Composite up 9.45 points to 14.103,84;
US dollar index (Dec ’23) was up 0.358 points to 104.265;
AUD/USD firmer at US$0.6508;
USD/CAD weaker at $1.3682;
EUR/USD weaker at $1.0846;
USD/RUB weaker at ₽89.4440.

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

Author: Sandro F. Puglisi

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