Daily Market Wire – February 6, 2023

US farm markets ended mixed but mostly lower, on Friday.

A broad sell-off affected stock, energy and other commodity prices.

Oil prices fell to over three-week lows, with Brent down 2.7%, and WTI 3.3% weaker for the session.

Both benchmark posted a weekly drop as much as 7.9%.

Global bond yields surged, undercutting stock prices, meanwhile the US dollar surged again.

Notably, Chicago wheat Mar contract was down US4.2 cents to 756.6c/bu;

Kansas wheat Mar contract was down 7.6c/bu to 873c/bu;

Minneapolis wheat Mar contract down 3.2c/bu to 921.4c/bu;

MATIF wheat Mar contract was up €1.5/t to €284.5/t;

Black Sea wheat Mar contract was down $0.5/t to $304.25/t;

ASX wheat March contract, up A$4.5/t to A$381/t;

US DWI Cash (durum wheat index) was down 0.64c/bu to 903.91c/bu;

1CWAD (Canadian durum) avg reg was down C$2.77/t to C$446.42/t;

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

Chicago corn Mar contract up 2.2c/bu to 677.4c/bu;

Soybeans Mar contract down 2.2c/bu to 1532c/bu;

MATIF corn Mar contract was up €2.25/t to €278/t;

Winnipeg canola Mar contract, was up C$6.5/t to C$831.6/t;

MATIF rapeseed May contract was up €1/t to €545.25/t;

Brent crude Apr was down US$2.23 per barrel to $79.94;

WTI crude Mar was down US$2.49 per barrel to $73.39;

BDI Baltic Dry Index was down 19 points to 621;

Dow Jones was down 127.93 points to 33.926,01;

S&P 500 was down 43.28 points to 4.136,48;

NASDAQ Composite down 193.86 points to 12.006,96;

US dollar index (Mar ’23) was up 1.180 to 102.755;

AUD/USD weaker at US$0.6919;

USD/CAD firmer at $1.3396;

EUR/USD weaker at $1.0793;

USD/RUB firmer at ₽70.6442.

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