DAILY MARKET WIRE
November 21, 2023 – Market Update
The comment
US farm markets were mixed, but mostly higher, on Monday.
Weekly planting data from AgRural showed Brazil at 68% complete for soybeans; first crop corn in the Center-South region at 80% complete.
European wheat prices fell to a new five-month low.
Plans by Ukraine’s national railways to raise transport tariffs will lead to increased losses for farmers, a new reduction in planted areas and lower exports, UGA said.
Export prices for Russian wheat remained flat last week.
China’s soybean imports from Brazil rose 71% in October from a year ago.
Malaysian palm oil prices rose, but gains were limited on strength in ringgit and weaker export forecasts.
ASX grain prices relaxed, on strength in the Aussie Dollar.
Weekly planting data from AgRural showed Brazil at 68% complete for soybeans; first crop corn in the Center-South region at 80% complete.
European wheat prices fell to a new five-month low.
Plans by Ukraine’s national railways to raise transport tariffs will lead to increased losses for farmers, a new reduction in planted areas and lower exports, UGA said.
Export prices for Russian wheat remained flat last week.
China’s soybean imports from Brazil rose 71% in October from a year ago.
Malaysian palm oil prices rose, but gains were limited on strength in ringgit and weaker export forecasts.
ASX grain prices relaxed, on strength in the Aussie Dollar.
The markets
Chicago wheat Dec contract was down 7.2c/bu to 543.4c/bu;
Kansas wheat Dec contract was down 7.4c/bu to 610.4c/bu;
Minneapolis wheat Dec contract was down 8.2c/bu to 707.2c/bu;
MATIF wheat Dec contract, was down €2.5/t to €224.25/t;
ASX wheat Jan ’24, was down A$4.5/t to A$385/t;
Black Sea wheat Dec contract has not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was up 3.29c/bu to 924.38c/bu;
1CWAD (Canadian durum wheat) avg spot prices was up C$0.03/t to C$465.40/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn Dec was up 2.4c/bu to 469.4c/bu;
MATIF corn Mar was down €1.25/t to €204.5/t;
Chicago soybeans Jan up 27c/bu to 1367.2c/bu;
Winnipeg canola Jan up C$19.5/t to C$716.7/t;
MATIF rapeseed Feb contract, was down €3.5/t to €431.5/t;
Brent crude Jan was up US$1.71 per barrel to $82.32;
WTI crude Dec was up US$1.79 per barrel to $77.83;
BADI (Baltic Dry Index) was down 3 points to 1.817;
Dow Jones was up 203.76 points to 35.151,04;
S&P 500 was up 33.36 points to 4.547,38;
NASDAQ Composite up 159.05 points to 14.284,53;
US dollar index (Dec ’23) was down 0.478 points to 103.317;
AUD/USD firmer at US$0.6556;
USD/CAD firmer at $1.3724;
EUR/USD firmer at $1.0940;
USD/RUB weaker at ₽88.5507.
Kansas wheat Dec contract was down 7.4c/bu to 610.4c/bu;
Minneapolis wheat Dec contract was down 8.2c/bu to 707.2c/bu;
MATIF wheat Dec contract, was down €2.5/t to €224.25/t;
ASX wheat Jan ’24, was down A$4.5/t to A$385/t;
Black Sea wheat Dec contract has not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was up 3.29c/bu to 924.38c/bu;
1CWAD (Canadian durum wheat) avg spot prices was up C$0.03/t to C$465.40/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn Dec was up 2.4c/bu to 469.4c/bu;
MATIF corn Mar was down €1.25/t to €204.5/t;
Chicago soybeans Jan up 27c/bu to 1367.2c/bu;
Winnipeg canola Jan up C$19.5/t to C$716.7/t;
MATIF rapeseed Feb contract, was down €3.5/t to €431.5/t;
Brent crude Jan was up US$1.71 per barrel to $82.32;
WTI crude Dec was up US$1.79 per barrel to $77.83;
BADI (Baltic Dry Index) was down 3 points to 1.817;
Dow Jones was up 203.76 points to 35.151,04;
S&P 500 was up 33.36 points to 4.547,38;
NASDAQ Composite up 159.05 points to 14.284,53;
US dollar index (Dec ’23) was down 0.478 points to 103.317;
AUD/USD firmer at US$0.6556;
USD/CAD firmer at $1.3724;
EUR/USD firmer at $1.0940;
USD/RUB weaker at ₽88.5507.
