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Daily Market Wire – February 7, 2023

US farm markets were mixed but mostly lower on Monday.

Corn prices closed up 0.22%.

Soybean faded 0.70% lower, with soymeal 1.51% weaker.

Soybean oil went home up by 0.42%.

Wheat markets were also variable, with Chicago and Minneapolis down 0.86% and 0.43% respectively, while Kansas City was up 0.34%.

The surge of US dollar caused gains in Euro-denominated prices.

Notably, Chicago wheat Mar contract was down US6.4 cents to 750.2c/bu;

Kansas wheat Mar contract was up 3c/bu to 876c/bu;

Minneapolis wheat Mar contract down 4c/bu to 917.4c/bu;

MATIF wheat Mar contract was up €4/t to €288.5/t;

Black Sea wheat Mar contract was up $0.75/t to $305/t;

ASX wheat March contract, up A$1/t to A$382/t;

US DWI Cash (durum wheat index) was up 0.38c/bu to 904.29c/bu;

1CWAD (Canadian durum) avg reg was up C$0.64/t to C$447.06/t;

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

Chicago corn Mar contract up 1.4c/bu to 679c/bu;

Soybeans Mar contract down 10.6c/bu to 1521.2c/bu;

MATIF corn Mar contract was up €2.25/t to €280.25/t;

Winnipeg canola Mar contract, was up C$1.9/t to C$833.5/t;

MATIF rapeseed May contract was up €4.5/t to €549.75/t;

Brent crude Apr was up US$1.05 per barrel to $80.99;

WTI crude Mar was up US$0.72 per barrel to $74.11;

BDI Baltic Dry Index was down 13 points to 608;

Dow Jones was down 34.99 points to 33.891,02;

S&P 500 was down 25.40 points to 4.111,08;

NASDAQ Composite down 119.50 points to 11.887,45;

US dollar index (Mar ’23) was up 0.743 to 103.498;

AUD/USD weaker at US$0.6881;

USD/CAD firmer at $1.3446;

EUR/USD weaker at $1.0730;

USD/RUB firmer at ₽71.4956.

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