DAILY MARKET WIRE
November 24, 2023 – Market Update
The comment
US markets were shut Thursday, due to the Thanksgiving public holiday.
Argentina’s grains trade is largely “paralyzed” by a lack of soybeans and farmers holding onto produce, anticipating a devaluation of the peso under President-elect Javier Milei, the head of the CIARA-CEC export chamber said.
European wheat prices edged down on Thursday, with the Mar contract to hold around a 5-1/2 month low.
Ukraine has harvested 75.7 million metric tons of grain and oilseeds from the new 2023 harvest so far.
The Subcommittee on Customs, Tariff and Non-Tariff Regulation of the Government of the Russian Federation supported the proposals of the Ministry of Agriculture to introduce a ban on the export of durum wheat from the country from December 1.
China’s state-run food group COFCO Group said it had imported Canadian durum wheat for the first time, which it would process into flour.
Malaysian palm oil prices declined on Thursday after three consecutive sessions of gains.
Dry weather in the growing season has reduced Australia’s wheat output this year, but most of the crop is with higher protein content and supplies of lower quality grains for animal feed are limited.
Argentina’s grains trade is largely “paralyzed” by a lack of soybeans and farmers holding onto produce, anticipating a devaluation of the peso under President-elect Javier Milei, the head of the CIARA-CEC export chamber said.
European wheat prices edged down on Thursday, with the Mar contract to hold around a 5-1/2 month low.
Ukraine has harvested 75.7 million metric tons of grain and oilseeds from the new 2023 harvest so far.
The Subcommittee on Customs, Tariff and Non-Tariff Regulation of the Government of the Russian Federation supported the proposals of the Ministry of Agriculture to introduce a ban on the export of durum wheat from the country from December 1.
China’s state-run food group COFCO Group said it had imported Canadian durum wheat for the first time, which it would process into flour.
Malaysian palm oil prices declined on Thursday after three consecutive sessions of gains.
Dry weather in the growing season has reduced Australia’s wheat output this year, but most of the crop is with higher protein content and supplies of lower quality grains for animal feed are limited.
The markets
Chicago wheat, the market was shut, previous day settlement was 555.6c/bu;
Kansas wheat, the market was shut, previous day settlement was 614.4c/bu;
Minneapolis wheat, the market was shut, previous day settlement was 710.6c/bu;
MATIF wheat Dec contract, was down €2/t to €222/t;
ASX wheat Jan ’24, was up A$4.5/t to A$388.5/t;
Black Sea wheat Dec contract has not quoted since August 11, 2023;
US DWI Cash (durum wheat index), the market was shut, previous day settlement was 924.38c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$0.04/t to C$465.16/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn, the market was shut, previous day settlement was 468.6c/bu;
MATIF corn Mar was down €0.25/t to €205.75/t;
Chicago soybeans, the market was shut, previous day settlement was 1356.4c/bu;
Winnipeg canola Jan down C$13/t to C$696.7/t;
MATIF rapeseed Feb contract, was down €3.25/t to €436.75/t;
Brent crude Jan was down US$0.53 per barrel to $81.43;
WTI crude, the market was shut, previous day settlement was $77.10 per barrel;
BADI (Baltic Dry Index) was up 100 points to 1.855;
Dow Jones, the market was shut, previous day settlement was 35.273,03;
S&P 500, the market was shut, previous day settlement was 4.556,62;
NASDAQ Composite, the market was shut, previous day settlement was 14.265,86;
US dollar index, the market was shut, previous day settlement was 103.825;
AUD/USD firmer at US$0.6556;
USD/CAD firmer at $1.3694;
EUR/USD firmer at $1.0902;
USD/RUB firmer at ₽88.4550.
Kansas wheat, the market was shut, previous day settlement was 614.4c/bu;
Minneapolis wheat, the market was shut, previous day settlement was 710.6c/bu;
MATIF wheat Dec contract, was down €2/t to €222/t;
ASX wheat Jan ’24, was up A$4.5/t to A$388.5/t;
Black Sea wheat Dec contract has not quoted since August 11, 2023;
US DWI Cash (durum wheat index), the market was shut, previous day settlement was 924.38c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$0.04/t to C$465.16/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn, the market was shut, previous day settlement was 468.6c/bu;
MATIF corn Mar was down €0.25/t to €205.75/t;
Chicago soybeans, the market was shut, previous day settlement was 1356.4c/bu;
Winnipeg canola Jan down C$13/t to C$696.7/t;
MATIF rapeseed Feb contract, was down €3.25/t to €436.75/t;
Brent crude Jan was down US$0.53 per barrel to $81.43;
WTI crude, the market was shut, previous day settlement was $77.10 per barrel;
BADI (Baltic Dry Index) was up 100 points to 1.855;
Dow Jones, the market was shut, previous day settlement was 35.273,03;
S&P 500, the market was shut, previous day settlement was 4.556,62;
NASDAQ Composite, the market was shut, previous day settlement was 14.265,86;
US dollar index, the market was shut, previous day settlement was 103.825;
AUD/USD firmer at US$0.6556;
USD/CAD firmer at $1.3694;
EUR/USD firmer at $1.0902;
USD/RUB firmer at ₽88.4550.
