June 4, 2024 - Newswires

Grains sank to start the week, and month …

Please to note:

"As the 2024 harvest started, depending on the activities keeping us busy in the field, the publication of this newsletter may vary or be cancelled. Therefore, we do not guarantee a daily release as usual. Thank you."

Good afternoon, Farmer Family ...

US farm markets were once again caught in the "crossfires" of a broad selloff from external markets, on Monday.

Corn prices faded 0.62% lower.

Soybeans slumped 1.7%.

The rest of the soy complex also was in the red, as soymeal moved 1.43% lower, soyoil tumbled 3.03%.

Wheat prices suffered variable losses, as Chicago SRW dropped 0.85%, Kansas City HRW lost 1.23%, Minneapolis spring wheat fell 0.81%.

• Corn prices fell on technical trading and expectations of strong seeding progress and crop conditions.
• Soybeans also fell touching a one-month low, weighed down by expectations of positive soy planting progress.
• Wheat prices also slipped after a choppy trading session.
• A poor Russian harvest outlook had boosted prices earlier in the session, but prices fell as traders sought profits off the rally.
• Meantime, funds adjusted their positions near the beginning of the month.
• Demand was so-so.
• Weekly Export Inspections data reported 1.374 MMT of corn shipped in the week ending on May 30.
• That was 21.59% larger than last week, and 13.89% above the same week last year.
• Cumulative exports year to date were at 37.741 MMT, or 26.08% larger than the same period in the 22/23 MY.
• For soybeans, data showed 348,644 MT of soybeans were shipped.
• That was up 57% from both last week and the same week in 2023.
• However, the year to date shipments showed just 40.295 MMT, or a 17.2% decline from last year.
• All wheat exports were tallied at 416,010 MT in the final full week of the 23/24 MY.
• That was an improvement of 4.29% from the week prior, and 36.7% above the same week last year.
• However, nearly full year data shows 18.709 MMT of shipments, a 5.52% drop from the year prior.
• Separately, the USDA confirmed a private export sale of 110,000 MT of corn to Spain for old crop shipment.

• Meantime, the monthly Grain Crushing report tallied 416.92 mbu of corn used for ethanol production during April.
• That was a 11.7% decline on the month but still up 0.69% from the same month last year.
• The Fats & Oils report showed 177.7 mbu of soybeans crushed during April.
• That was a 12.76% decline from March’s massive total and down 4.95% from last year.
• That was still above the trades expected 175.5 mbu.
• Stocks for the end of the were tallied at 2.311 billion lbs, a 2.44% decline mo/month.

In this context ...

Basis bids for corn and soybeans were steady to firmer at elevators, river and rail terminals in the U.S. Midwest, as falling CBOT futures prices stalled farmer sales and bolstered demand from exporters at the Gulf.

• Notably, the corn basis firmed by 5 cents a bushel at Decatur, Illinois, a grain processing hub, and by 7 cents at a Chicago-area processor.
• Along Midwest river elevators that load barges for shipment toward New Orleans export terminals, the corn basis firmed by 2 cents at Davenport, Iowa, and 4 cents at Morris, Illinois.
• Soybean basis bids were similarly strong, with the spot basis firming by 4 cents at a Decatur, Illinois, crushing site, by 10 cents at a Chicago elevator and by 5 cents at a Council Bluffs, Iowa, elevator.
• River soybean bids firmed as well. One exception to the firm trend was a Chicago-area corn elevator in Hammond, Indiana, where the basis fell by 25 cents as the facility took an annual shutdown through June 9.
• For wheat, basis bids for hard red winter (HRW) wheat were steady at grain elevators in the southern U.S. Plains, after weekend rains crossed parts of Oklahoma, slowing harvest activity and the dry-down of mature wheat.
• Commodity funds were net sellers in CBOT wheat, corn, soybean, soymeal, and soyoil contracts.

After the sessions close ...

• The USDA released their weekly Crop Progress report and Conditions
• Notably, the USDA rated 75% of the U.S. corn crop as good to excellent in its first condition ratings for the 2024 crop.
• That was above the average trade estimate of 70%, and higher from 64% a year ago.
• The USDA also said U.S. farmers had planted 91% of their intended corn acres by Sunday.
• That was up from 83% a week earlier, and ahead of the the five-year average of 89%.
• Corn emergence was tallied at 74%.
• For soybeans, the USDA said U.S. farmers had planted 78% of their intended acreage.
• That was below the average trade estimate of 80%.
• However, the USDA's figure was up from 68% a week ago and ahead of the five-year average of 73%.
• Emergence was 55% complete, 3% faster than normal.
• The government expects to release soybean condition ratings starting with next week's report.
• As for wheat, the U.S. harvest of winter wheat is under way.
• The USDA said 6% of the crop had been cut by Sunday.
• The harvest was 22% complete in Oklahoma, well ahead of the five-year average of 6%, and the Texas harvest was 33% complete, ahead of the five-year average of 27%.
• Data showed 83% of the US winter wheat crop headed.
• The government also rated 49% of the crop as good to excellent, up from 48% the previous week and the highest for this time of year since 2021.
• In its first 2024 condition ratings for spring wheat, the USDA rated 74% of the crop as good to excellent, well above an average of analyst expectations for 69% and up from the year-ago rating of 64%.
• Spring wheat meantime was 94% planted, 4% above the average pace, with 78% of the crop emerging, 9% faster than normal.

This morning ...

Chicago corn prices fell for a sixth consecutive session, hitting their lowest levels in six weeks. Wheat also slid for a fifth session. Soybean, meanwhile, inched higher after a five-session slide.

• Notably, the most-active corn contract on the Chicago Board of Trade (CBOT) fell 0.39% as of 0251 GMT, hitting its lowest since April 22.
• Wheat slid 0.11%, reversing gains earlier in the session.
• Meanwhile, soybeans rose 0.13%.
• Grains prices are expected to stay slightly bearish to neutral, as the market has been overbought.
• In the absence of further bullish news, analysts expect that the wheat market will trade in a relatively tight range, with a downward bias.
• Without any weather issues, prices are going to get lower until the price level will low enough to stimulate a new demand, analysts said.
• Heavy rainfall is expected to slow planting in some corn-growing regions of the U.S. through Wednesday, but nothing to worry about.
• The National Weather Serivce posted flood watches, in south-central and southwestern Oklahoma.
• But forecasts show a drier, warmer pattern in the southern Plains after June 12.

South America

Brazil

Brazil's second-corn harvest for the 2024 cycle had reached 4.7% of the planted area in the key center-south region as of Thursday, agribusiness consultancy AgRural said, up 2.7 percentage points from the previous week.

• AgRural estimates Brazil's total 2023/24 corn production at 118.4 million metric tons.
• StoneX also lowered its Brazil's second corn crop to 93.5 million metric tons.
• That is 3.9% lower from its previous estimate in May.
• StoneX now expects overall yields for the second corn crop at 5.42 tons per hectare, down from 5.67 tons in May.
• Its forecast for Brazil's total corn crop is now at 121.75 million tons, down from the 125.6 million tons in May, driven mainly by the expected drop in second corn output.
• StoneX also has cut Brazil's 2023/2024 soy crop, which has been nearly totally harvested, by 1.2% to 149 million tons, mostly due to losses after floods in Rio Grande do Sul state.

• A smaller overall corn crop will likely drive a 40% fall in exports in the current season compared to the record of the previous cycle, when the country exported 54.6 million tons, analysts said.
• According to AgRural, the fast pace of harvesting was not expected to have a big impact on corn exports in June, especially because Brazil's corn is currently less competitive than the product from the U.S. and Argentina.
• However, a bigger than anticipated second corn crop in top grower Mato Grosso, could boost Brazilian corn shipments as June advances.

Europe

European grain market ended mixed.

• September wheat closed down 0.3% at 258.25 euros ($281.00) a metric ton.
• It earlier climbed 2% to approach last week's one-year high of 269.25 euros, before dropping.
• The Aug corn contract ended up €0.5/t to €225.75/t, while rapeseed was down €8.25/t to €479.25/t.
• Wheat prices rose sharply early in the session, as hot weather and limited rain forecast in Russia raised the risk of a further deterioration to crop potential.
• Traders were also looking ahead to Algeria's wheat purchase tender.
• However, the euro strengthened against the dollar, making European commodities more expensive for buyers holding the foreign currency.
• Also, the price of oil fell sharply, after the market disappointed the OPEC+'s announcement, and oil dragged all raw materials in its bearish wake.
• In the grains sector, of course, oilseeds have been hit more, with rapeseed falling back below €380/t, the lowest close since May 21.
• Meantime, in France, traders were watching to see if a dry, warm spell forecast this week would improve field conditions.
• In spite the recent rain in western Europe, including flooding in south Germany, German operators were not initially expecting a major impact, as problems are mainly alongside rivers.
• That could cause some problems with delivery of grains from south Germany sold to north Germany and the Netherlands, also with grain shipments from Ukraine via the Danube.
• However, nothing more.

Ukraine

In May, Ukraine exported 12.2 mln tonnes of goods worth $3.34 bln.

• Despite the fact that the physical volume was down by 6.9% compared to April, the value of exports was only 0.5% lower, the Deputy Minister of Economy and Trade Representative of Ukraine, said.
• In May, the country exported 452 thsd tonnes of corn less than in April (3.6 mln tonnes), and wheat - 285 thsd tonnes less (1.6 mln tonnes),” the official explained.
• Also exports by mode of transportation reflects the general trends.
• In May, indeed, 8.5 mln tonnes were exported from Ukraine by sea, which is 1 mln tonnes less than in April.
• Conversely, exports by road recovered - 896 thsd tonnes, up 10.7% compared to April.
• Exports to India increased by 85% to $148 mln, with sunflower oil the largest share of exports.
• Exports to the EU grew to $1.867 bln (+1.7%), with exports to Poland growing by 12% compared to April and amounted to $365.8 mln.
• On the other hand, exports to China in May were 30% less than in April, after reaching just $256 mln.
• The official also noted that imports to Ukraine in May decreased by 7% compared to April and amounted to $5.1 bln.

Russia

The Russian Agriculture Ministry expects a federal emergency regime to be introduced as early as the end of this week after recent frosts have killed or damaged crops.

• That would make it easier for farmers to receive insurance payments.
• As of May 24, Russian farmers had seeded 19.5 million hectares of grains.
• That is compared to 23.9 million hectares in the same period in 2023.
• That, also, included 7.7 million hectares of spring wheat, compared to 10.7 million last year.
• In this context, industry analysts continued last week to lower their forecasts for this year's Russian harvest.
• Sovecon downgraded its wheat harvest forecast by 3.6 million tons to 82.1 million tons.
• Rusagrotrans lowered its production by 5.7 million tons to 84.2 million tons.
• The weekly consensus forecast by the Rusgrain Union also showed a 2.5% decline in the 2024 wheat crop, to 84.6 million tons.
• On the export side, Sovecon increased its wheat export estimate for May by 0.1 million tons to a record 4.4 million tons.
• That is compared to 4.1 million tons in May 2023.
• As a result, Russian wheat export prices rose again last week.
• According to the IKAR, the price of 12.5% protein Russian wheat scheduled for free-on-board (FOB) delivery in late June was $248 per metric ton.
• That was up $1 from a week earlier.
• Sovecon pegged the same class of wheat at $252-$255 a ton, up from $242-$246 a ton FOB.
• As for the other products, the price for domestic 3rd class wheat, European part of Russia, excludes delivery was valued at 14,850 rbls/t, +925 rbls/t (Sovecon).
• The price for sunflower seeds was at 30,400 rbls/t, +1,425 rbls/t (Sovecon).
• The price for domestic sunflower oil was at 75,250 rbls/t, +900 rbls/t (Sovecon).
• The price for domestic soybeans was at 40,000 rbls/t, +1,100 rbls/t (Sovecon).
• The export price for sunflower oil was at $885/t, +$50 (IKAR).
• The price for white sugar, Russia's south was at $696.07/t, +$9.09/t (IKAR).
• However, the Russian authorities have not changed their forecast yet, expecting a wheat harvest of 85 million tons and estimating the area of grain loss at about 850,000 hectares.
• The weather outlook is somewhat improving for winter wheat in Central Russia and parts of the Volga Valley, though remains unfavourable for the South.
• Traders also noted a softening in demand observing the latest port data.
• Russia grain exports indeed declined to 0.80 million tons of grain last week.
• That is compared with 1.07 million in the previous week.
• Exports included 0.72 million tons of wheat, down from 0.97 million tons a week earlier.
• Also, in some southern regions, the new crop harvest may start in a couple of weeks.
• Meantime, Russia will find other markets for its grain after the European Union said it would hike import tariffs on it, the TASS news agency reported on Monday, citing comments by the Russian agriculture minister Oksana Lut.
• Still, Moscow was ready to supply Europe if it needed Russian foodstuff, Lut said.

Southeast Asia

India

According to market sources, India’s palm oil imports rose by 12.4% in May from the previous month to reach the highest level in four months.

• Notably, the total country’s edible oil imports rose by 15% to 1.5 million tons.
• Palm oil imports in May jumped to 769,000 metric tons, the highest level since January.
• India’s sunflower oil imports in May jumped 74% from a month earlier to 408,000 tons, as a few vessels whose berthing was delayed in April due to port congestion landed in May.
• Soyoil imports, meantime, fell 16.5% in May to 322,000 tons.
• The recent correction in prices led to higher palm oil purchases.
• Crude palm oil’s (CPO) imports are indeed offered at about $948 a metric ton, including cost, insurance and freight (CIF), in India for July delivery.
• On the other hand, soyoil and sunflower oil are offered at around $1,028 and $1,035 a ton, respectively.
• Higher margins prompted traders to increase refined palm oil purchases, rising it to 214,000 tons from 124,228 tons the previous month.
• Industry body Solvent Extractors’ Association of India (SEA) is likely to publish its data on May imports by mid-June.

Malaysia

Bursa Malaysia and its subsidiaries remained closed yesterday, in conjunction with the public holiday for the birthday of Yang di-Pertuan Agong Sultan Ibrahim Ibni Almarhum Sultan Iskandar.

• Bursa Malaysia and its subsidiaries resumed operations this morning, with Malaysian palm oil prices falling over 3%.
• Notably, the benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange dropped 3.34% in early trade.
• Weakness in rival Dalian contracts and crude oil prices weighing on the market.
• Dalian’s most-active soyoil contract fell 1.45%, while its palm oil contract lost 2.03%.
• Oil prices also eased in early trade, extending their losses from the previous session.
• In addition, the ringgit strengthened 0.26% against the dollar, making the commodity more expensive for buyers holding the foreign currency.

Australia

The Australian government said on Tuesday the country would harvest around 700,000 metric tons more wheat than it previously thought.

• Notably, according to ABARES, Australia should produce 29.1 million tons of wheat in the current 2024/25 crop year.
• That is 12% more than in 2023/24 and 10% above the 10-year average.
• ABARES also predicted barley production at 11.5 million tons.
• That is up 7% from 2023/24 and 2% above the 10-year average.
• On the other hand, canola production will reach 5.4 million ton.
• That is down 5% from 2023/24, but 21% above the 10-year average.
• With planting of winter crops now wrapping up, ample rain in east Australia has created a "close-to-ideal" start to the season, though dry weather elsewhere led some farmers reduce planted area.
• ABARES said the area planted to wheat and barley would rise 3% from the 2023/24 season and canola area would fall 9%.
• Above average yields in Queensland, New South Wales and Victoria, however, should more than offset average to below average yields in South Australia and Western Australia, the biggest canola growing region, ABARES said.
• Australia’s area planted to all winter pulses is forecast to increase by 17pc from last season to 2.5 million hectares in 2024-25, driven by increases in chickpea and lentil plantings.
• Chickpea production should more than double from last season to 1.1 million tons, it said, as farmers take advantage of a suspension of import tariffs by top consumer India.
• Lentil production is forecast to remain steady on last year at 1.6Mt, but be more than double the 10-year average to 2023-24, with the expansion in area planted to lentils expected to be offset by lower expected yields.
• For summer crops now mostly harvested, ABARES said Australia would produce 2.2 million tons of sorghum, down 16% from the last season, 1.1 million tons of cotton lint, down 13%, and 611,000 tons of rice, up 20%.
• Meantime, local markets yesterday had a softer start to the week with ASX eastern Australia wheat down A$2/t ($384 July 24).
• ASX Jan 2025 wheat was down A$2/t to $394/t, while ASX Jan 2025 barley remained unchanged at $339/t.
• The rain event was widespread with most receiving falls although there was still some disappointment in parts of SA/WA where minimal falls were recorded.
• Northeastern Victoria and SNSW scored very handy rains to get the program back on track.

International grain and oilseed tenders & trade

• Egypt's state grains buyer the General Authority for Supply Commodities (GASC) is seeking wheat in an international tender. The deadline for offers is June 4. Offers should be submitted on a free-on-board (FOB) for shipment between July 5-15 and/or July 15 -25. Suppliers were asked to submit offers for payment via 270-day letters of credit. The lowest FOB price offered in the tender has been $271.75/t for 60k MT of Ukrainian wheat, from trading house LDC. Russian FOB offers were all between $285 and $289/t. No purchases have been made yet. Later we will get more info.
• The Korea Feed Association (KFA) in South Korea purchased an estimated 50,000 to 65,000 metric tons of animal feed corn expected to be sourced from either the United States or South America in a private deal on Monday. The KFA’s Incheon section purchased the corn from trading house CHS at an estimated $246.40 a ton cost and freight (c&f) included for arrival in South Korea around Sept. 20. The deal was set at 50,000 to 65,000 tons and seller has to declare the volume to be supplied by June 30. If sourced from South America, shipment was between July 23 and Aug. 11. The KFA’s Incheon section had rejected all offers and made no purchase in an international tender for up to 68,000 tons of corn on Friday in which the lowest price offered was reported to be $248.50 a ton c&f.
• Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 133,000 metric tons of animal feed corn expected to be sourced from South America or South Africa in an international tender on Tuesday. It was bought in two consignments, both at an estimated outright price of $241.75 a ton cost and freight (c&f)included plus some at a premium over Chicago corn futures. Sellers were believed to be trading houses Mitsui and Cargill. Both consignments have an extra $1.50 a ton surcharge for additional port unloading. The corn was all sought for arrival in South Korea in October.

Outside markets ...

Energy markets

Oil prices tumbled by $3 a barrel, hitting their lowest in nearly four months.

• Brent crude futures fell 3.4%, closing below $80 for the first time since Feb. 7.
• U.S. West Texas Intermediate crude futures also closed at a near four-month low falling 3.6% from Friday.
• Both contracts were down by $3 a barrel in post-settlement trading.
• An aide to the Israeli prime minister confirmed on Sunday that Israel had accepted a framework deal for winding down the Gaza war, although the Israeli side called it a flawed deal.
• However, in a more bearish factors, investors are worried that OPEC+ output decision could lead to higher supplies later in the year.
• OPEC+ indeed agreed to extend most of its oil output cuts into 2025 but left room for voluntary cuts from eight members to be gradually unwound from October onward.
• Meantime, U.S. manufacturing activity slowed for a second straight month in May, with construction spending falling unexpectedly for a second month in April on declines in non-residential activity - both of which could translate into weaker oil and fuel demand.
• Signs of weakening demand growth have also weighed on oil prices in recent months, with data on U.S. fuel consumption in focus.
• Meantime, U.S. gasoline futures fell more than 3% on Monday to a more than three-month low of $2.34 a gallon.
• The average gasoline price in the United States declined 5.8 cents per gallon to $3.50 per gallon on Monday, according to GasBuddy data.
• U.S. efforts to replenish the country's Strategic Petroleum Reserve (SPR) could provide some support for oil prices.
• The United States indeed is buying another 3 million barrels for the SPR at an average price of $77.69 a barrel, the U.S. Department of Energy said on Monday.

This morning, oil prices eased as much as 1% in Asian trade.

• Brent crude futures fell 0.93% at 0638 GMT, while U.S. West Texas Intermediate crude futures eased 1.17%.

Ocean freight markets

The Baltic Exchange’s dry bulk sea freight index in London edged lower, snapping a three-session winning streak due to lower rates across the vessels.

• The overall index slipped 0.39%.
• The capesize index lost 0.14%.
• The panamax index fell for the sixth consecutive session, slipping about 0.71%, and marking its lowest level since April 11.
• The supramax index eased 0.47%.

Equity markets

US stock indexes settled mixed.

• The Dow Jones Industrial Average dropped 0.3%, the S&P 500 edged 0.1% higher, and the Nasdaq composite rose 0.6%.
• Nvidia closed up more than +4% to lead chip stocks higher.
• Also, a decline in bond yields was bullish for stocks after the 10-year T-note yield fell -9.5 bp to a 2-week low of 4.404%.
• Gains in the overall market, however, were limited as the US May ISM manufacturing index fell -0.5 to 48.7.?
• Also, the May ISM price paid sub-index fell -3.9 to 57.0.
• US Apr construction spending fell -0.1% m/m.
• Meantime, energy stocks were under pressure after WTI crude prices fell more than -3% to a 3-month low.
• In Europe, the Euro Stoxx 50 closed up +0.40%.
• The Eurozone May S&P manufacturing PMI was revised downward by -0.1 to 47.3.
• Operators however were looking ahead to Thursday’s ECB meeting, with the ECB expected to cut its main refinancing rate by 25 bp to 4.25%.
• In China, the Shanghai Composite Index closed down -0.27%.
• However, Chinese manufacturing news bolstered global economic prospects and supported stocks after the China May Caixin manufacturing PMI rose +0.3 to 51.7, hitting the highest level in 23 months.
• In Japan, the Nikkei Stock 225 Index closed up +1.13%.
• The May Jibun Bank manufacturing PMI was revised downward and Q1 capital spending rose less than expected.
• Notably, the Japan May Jibun Bank manufacturing PMI was revised downward by -0.1 to 50.4.
• Japan's Q1 capital spending rose +6.8% y/y.
• Also, Q1 capital spending ex-software rose +6.8% y/y.

This morning, Asian shares retreated.

• India's Sensex led the region's losses, plunging 4.1%, Japan's Nikkei 225 index lost 0.2%, the Kospi in Seoul was down 0.8%, the Shanghai Composite index edged 0.1% lower, Australia's S&P/ASX 200 shed 03%, Taiwan's Taiex lost 0.8%.
• Hong Kong's Hang Seng was the outlier, gaining 0.5%.

Currency trading

The dollar index fell, and posted a 2-week low.

• Lower T-note yields undercut the dollar.
• Meantime, losses in the dollar accelerated, as the US May ISM manufacturing index unexpectedly.
• The May ISM price paid sub-index was weaker than expectations.
• US Apr construction spending also fell.
• Comments from Minneapolis Fed President were slightly hawkish.
• On the other hand, the EUR/USD rose, with the euro recovering from early losses and rallying to a 2-1/4 month high.
• The euro initially had moved lower after a downward revision to the Eurozone May S&P manufacturing PMI.
• The euro was also undercut by expectations that the ECB will cut its main refinancing rate by -25 bp at Thursday's meeting.
• However, the slide in the dollar sparked a short covering in EUR/USD.
• The USD/JPY fell, with the yen rallying to a 1-1/2 week high against the dollar.
• Monday's Japanese economic news however was weaker than expected and was bearish for the yen.

This morning, the U.S. dollar rose to 156.13 Japanese yen from 156.10 yen. The euro slipped to $1.0902 from $1.0904.

Settlement Prices for Key Commodity, Index & Currencies

• Chicago wheat Jul contract was down 5.6c/bu to 672.6c/bu;
• Kansas wheat Jul contract was down 8.6c/bu to 700c/bu;
• Minneapolis wheat Jul contract was down 6c/bu to 733.6c/bu;

• MATIF wheat Sep was down €0.5/t to €258.75/t;

• ASX wheat Jul contract was down A$2.9 to A$383/t;
• US DWI Cash (durum wheat index), was down 18.43c/bu to 749c/bu;
• 1CWAD (Canadian durum) avg spot price was down C$7.33/t to C$377.27/t.
• EDW (EU durum) Sep contract was up €4/t to €343/t;

• Chicago corn Jul was down 2.6c/bu to 443.4c/bu;

• MATIF corn Aug was up €0.5/t to €225.75/t;

• Chicago soybeans Jul down 20.4c/bu to 1184.4c/bu;
• Winnipeg canola Jul contract was down C$26.6/t to C$634.4/t;

• MATIF rapeseed Aug was down €8.25/t to €479.25/t;

• Brent crude Aug was down US$2.75 to $78.36;
• WTI crude Jul was down US$2.77 per barrel to $74.22;

• BADI (Baltic Dry Index) was down 7 points to 1.808;

• Dow Jones was down 115.29 points to 38.571,03;
• S&P 500 was up 5.89 points to 5.283,40;
• NASDAQ Composite up 93.65 points to 16.828,67;

• US dollar index (Sep '24) was down 0.534 points to 103.713;

• AUD/USD firmer at US$0.6689;
• USD/CAD firmer at $1.3627;
• EUR/USD firmer at $1.0904;
• USD/RUB weaker at ?89.32.36.

That's all, thank you.

We wish you a nice day.

Author: Sandro F. Puglisi

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