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Daily Market Wire – February 9, 2023

Chicago wheat, corn and soybean prices firmed on Wednesday.

Brent crude gained another 1.67%, and WTI rose by 1.72%.

Both benchmarks have gained more than 6% so far this week.

On Wall St. stock indexes closed sharply lower, boosting liquidity demand for the dollar.

However, weaker T-note yields undercut the US currency.

Notably, Chicago wheat Mar contract was up US15 cents to 764.6c/bu;

Kansas wheat Mar contract was up 10.2c/bu to 896c/bu;

Minneapolis wheat Mar contract up 9c/bu to 926.2c/bu;

MATIF wheat Mar contract was up €1/t to €294.75/t;

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

ASX wheat March contract, down A$0.5/t to A$385/t;

US DWI Cash (durum wheat index) was down 9.98c/bu to 892.59c/bu;

1CWAD (Canadian durum) avg reg was down C$1.78/t to C$445.87/t;

EDW (EU durum) March contract was down €47/t to €434/t;

Chicago corn Mar contract up 4.4c/bu to 678.4c/bu;

Soybeans Mar contract up 4.4c/bu to 1519.6c/bu;

MATIF corn Mar contract was up €3.5/t to €289/t;

Winnipeg canola Mar contract, was down C$4.3/t to C$828.2/t;

MATIF rapeseed May contract was up €0.75/t to €554.25/t;

Brent crude Apr was up US$1.40 per barrel to $85.09;

WTI crude Mar was up US$1.33 per barrel to $78.47;

BDI Baltic Dry Index was up 2 points to 603;

Dow Jones was down 207.68 points to 33.949,01;

S&P 500 was down 46.14 points to 4.117,86;

NASDAQ Composite down 203.27 points to 11.910,52;

US dollar index (Mar ’23) was down 0.026 to 103.272;

AUD/USD weaker at US$0.6924;

USD/CAD firmer at $1.3444;

EUR/USD weaker at $1.0709;

USD/RUB firmer at ₽72.4760.

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