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Daily Market Wire – February 2, 2023

Diverging markets on Wednesday.

EU grain and oilseed prices eased about 1% across the board.

US markets were mixed, as corn prices tested modest gains, 

soybean posted double-digit losses, down more than 1pc.

Wheat prices were lightly mixed ranging from -0.2% to +0.63%.

Both WTI and Brent benchmarks plunged more than 3%, after U.S. government data showed big builds in crude and oil products inventory.

On Wall St. stocks soared, bond yields fall and the US dollar index eased, after dovish Powell comments.

Notably, Chicago wheat Mar contract was down US1.4 cents to 759.6c/bu;

Kansas wheat Mar contract was up 5.4c/bu to 884.2c/bu;

Minneapolis wheat Mar contract up 3.6c/bu to 926c/bu;

MATIF wheat Mar contract was down €2.5/t to €285.25/t;

Black Sea wheat Mar contract was down $0.25/t to $304.75/t;

ASX wheat March contract, up A$2/t to A$375.5/t;

US DWI Cash (durum wheat index) was down 0.06c/bu to 903.91c/bu;

1CWAD (Canadian durum) avg reg was down C$3.2/t to C$449.22/t;

EDW (EU durum) March contract was unchanged to €481/t;

Chicago corn Mar contract up 1.2c/bu to 681c/bu;

Soybeans Mar contract down 17.6c/bu to 1520.2c/bu;

MATIF corn Mar contract was down €2.5/t to €276.75/t;

Winnipeg canola Mar contract, was down C$3.9/t to C$828/t;

MATIF rapeseed May contract was down €4/t to €541/t;

Brent crude Apr was down US$2.62 per barrel to $82.84;

WTI crude Mar was down US$2.46 per barrel to $76.41;

BDI Baltic Dry Index was down 13 points to 668;

Dow Jones was up 6.92 points to 34.092,96;

S&P 500 was up 42.61 points to 4.119,21;

NASDAQ Composite up 231.77 points to 11.816,32;

US dollar index (Mar ’23) was down 0.887 to 101.028;

AUD/USD firmer at US$0.7135;

USD/CAD weaker at $1.3287;

EUR/USD firmer at $1.0989;

USD/RUB firmer at ₽69.8820.

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