October 20, 2023 – Market Update

The comment

US farm markets rose, on Thursday, with the only exception of soyoil.
The St. Lawrence Seaway Management Corp. could shut the waterway to grain and all other traffic just after midnight Sunday for a strike.
Almost half of Argentina’s 2023/24 wheat crop is in fair to poor condition.
European wheat prices saw a downward correction.
Ukraine has so far harvested about 57.6 million tons of grain and oilseeds.
China’s soybean imports from Brazil reached 6.88 million metric tons last month.
Malaysian palm oil prices fell to their lowest closing price in nearly a week.
The Grain Industry Association of Western Australia has estimated winter crops at 14.95 MMT.

The markets

Chicago wheat Dec contract was up 13.6c/bu to 594c/bu;
Kansas wheat Dec contract was up 5.6c/bu to 676.2c/bu;
Minneapolis wheat Dec contract was up 5.4c/bu to 739c/bu;
MATIF wheat Dec contract, was down €2.25/t to €238.25/t;
ASX wheat Jan 24, was down A$1/t to A$403/t;
Black Sea wheat Dec contract not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was down 3.97c/bu to 931.92c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$0.86/t to C$481.73/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn Dec was up 13c/bu to 505c/bu;
MATIF corn Nov was unchanged to €205.25/t;
Chicago soybeans Nov up 4.4c/bu to 1315.4c/bu;
Winnipeg canola Nov contract, was down C$19.5/t to C$692.2/t;
MATIF rapeseed Nov contract, was down €11.75/t to €407.25/t;
Brent crude Dec was up US$0.88 per barrel to $92.38;
WTI crude Dec was up US$1.10 per barrel to $88.37;
BADI (Baltic Dry Index) was down 34 points to 2.071;
Dow Jones was down 250.91 points to 33.414,17;
S&P 500 was down 36.60 points to 4.278,00;
NASDAQ Composite down 128.13 points to 13.186,18;
US dollar index (Dec ’23) was down 0.308 points to 106.046;
AUD/USD weaker at US$0.6329;
USD/CAD firmer at $1.3718;
EUR/USD firmer at $1.0582;
USD/RUB weaker at ₽96.8436.

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

Author: Sandro F. Puglisi

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