October 23, 2023 – Market Update

The comment

US farm markets ended mixed but mostly lower, on Friday.
2023 Saskatchewan harvest is virtually complete with 98% of the crop in the bin.
Heavy rains hit agricultural regions across Argentina over the weekend, the National Meteorological Service said.
European grain prices were firmer at the end of the week, while rapeseed faced a sell-off.
As of October 20, Ukraine has exported 8.02 mln tonnes of grains and pulses.
As of October 20, Russia harvested 137.2 mln tonnes of grains and pulses (in bunker weight), Interfax said.
Malaysian palm oil prices posted a 0.35% weekly gain on Friday.
Aussie local markets were lacklustre at the end of the week.

The markets

Chicago wheat Dec contract was down 8c/bu to 586c/bu;
Kansas wheat Dec contract was down 6.2c/bu to 670c/bu;
Minneapolis wheat Dec contract was down 8.2c/bu to 730.6c/bu;
MATIF wheat Dec contract, was up €1.75/t to €240/t;
ASX wheat Jan 24, was down A$1/t to A$402/t;
Black Sea wheat Dec contract not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was down 3.99c/bu to 927.93c/bu;
1CWAD (Canadian durum wheat) avg spot prices was down C$1.66/t to C$480.07/t;
EDW (EU durum) Dec contract, was unchanged to €390.5/t;
Chicago corn Dec was down 9.4c/bu to 495.4c/bu;
MATIF corn Nov was up €1/t to €206.25/t;
Chicago soybeans Nov down 13.2c/bu to 1302.2c/bu;
Winnipeg canola Nov contract, was up C$2.2/t to C$694.4/t;
MATIF rapeseed Nov contract, was down €13.25/t to €394/t;
Brent crude Dec was down US$0.22 per barrel to $92.16;
WTI crude Dec was down US$0.29 per barrel to $88.08;
BADI (Baltic Dry Index) was down 25 points to 2.046;
Dow Jones was down 286.89 points to 33.127,28;
S&P 500 was down 53.84 points to 4.224,16;
NASDAQ Composite down 202.37 points to 12.983,81;
US dollar index (Dec ’23) was down 0.058 points to 105.988;
AUD/USD weaker at US$0.6310;
USD/CAD weaker at $1.3715;
EUR/USD firmer at $1.0593;
USD/RUB weaker at ₽95.4391.

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

Author: Sandro F. Puglisi

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