DAILY MARKET WIRE
September 26, 2023 – Market Update
The comment
US farm markets were mixed but mostly higher, on Monday.
Brazil’s 2023/24 soybean planting has reached as of last Thursday 1.9% of the expected area.
European wheat prices rose sharply, recovering from a 12-day low.
The prolonged absence of rain in most Ukrainian regions have created unfavourable conditions for sowing and development of winter crops.
Russia exported 1.23 million tons of grain last week.
Exports of Malaysian palm oil products for September 1 – 25 averaged between 1.09 – 1.14 MMT.
Aussie markets started the week sluggish.
Brazil’s 2023/24 soybean planting has reached as of last Thursday 1.9% of the expected area.
European wheat prices rose sharply, recovering from a 12-day low.
The prolonged absence of rain in most Ukrainian regions have created unfavourable conditions for sowing and development of winter crops.
Russia exported 1.23 million tons of grain last week.
Exports of Malaysian palm oil products for September 1 – 25 averaged between 1.09 – 1.14 MMT.
Aussie markets started the week sluggish.
The markets
Chicago wheat Dec contract was up 9.4c/bu to 589c/bu;
Kansas wheat Dec contract was up 3.2c/bu to 714.4c/bu;
Minneapolis wheat Dec contract was down 1.4c/bu to 769c/bu;
MATIF wheat Dec contract, was up €4.5/t to €240.25/t;
ASX wheat Jan 24, was unchanged to A$420/t;
Black Sea wheat Dec contract not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was up 0.58c/bu to 992.41c/bu;
1CWAD (Canadian durum wheat) avg spot prices was up C$0.11/t to C$503.94/t;
EDW (EU durum) Dec contract, was unchanged to €400/t;
Chicago corn Dec was up 4c/bu to 481.2c/bu;
MATIF corn Nov was up €1.75/t to €211/t;
Chicago soybeans Nov up 1.4c/bu to 1297.6c/bu;
Winnipeg canola Nov down C$11.1/t to C$710.9/t;
MATIF rapeseed Nov contract, was down €0.5/t to €440.75/t;
Brent crude Nov was up US$0.02 per barrel to $93.29;
WTI crude Nov was down US$0.35 per barrel to $89.68;
BADI (Baltic Dry Index) was up 21 points to 1.614;
Dow Jones was up 43.04 points to 34.006,88;
S&P 500 was up 17.38 points to 4.337,44;
NASDAQ Composite up 59.51 points to 13.271,32;
US dollar index (Dec ’23) was up 0.430 points to 105.690;
AUD/USD weaker at US$0.6423;
USD/CAD weaker at $1.3453;
EUR/USD weaker at $1.0593;
USD/RUB firmer at ₽95.9218.
Kansas wheat Dec contract was up 3.2c/bu to 714.4c/bu;
Minneapolis wheat Dec contract was down 1.4c/bu to 769c/bu;
MATIF wheat Dec contract, was up €4.5/t to €240.25/t;
ASX wheat Jan 24, was unchanged to A$420/t;
Black Sea wheat Dec contract not quoted since August 11, 2023;
US DWI Cash (durum wheat index) was up 0.58c/bu to 992.41c/bu;
1CWAD (Canadian durum wheat) avg spot prices was up C$0.11/t to C$503.94/t;
EDW (EU durum) Dec contract, was unchanged to €400/t;
Chicago corn Dec was up 4c/bu to 481.2c/bu;
MATIF corn Nov was up €1.75/t to €211/t;
Chicago soybeans Nov up 1.4c/bu to 1297.6c/bu;
Winnipeg canola Nov down C$11.1/t to C$710.9/t;
MATIF rapeseed Nov contract, was down €0.5/t to €440.75/t;
Brent crude Nov was up US$0.02 per barrel to $93.29;
WTI crude Nov was down US$0.35 per barrel to $89.68;
BADI (Baltic Dry Index) was up 21 points to 1.614;
Dow Jones was up 43.04 points to 34.006,88;
S&P 500 was up 17.38 points to 4.337,44;
NASDAQ Composite up 59.51 points to 13.271,32;
US dollar index (Dec ’23) was up 0.430 points to 105.690;
AUD/USD weaker at US$0.6423;
USD/CAD weaker at $1.3453;
EUR/USD weaker at $1.0593;
USD/RUB firmer at ₽95.9218.
