Stocks tumble on economic jitters

by Staff
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Recap for February 3

    Corn, wheat, soybean and soybean meal futures ended higher Monday on signs of strong demand, with corn futures reaching their highest levels in more than three months. Chicago March wheat gained 8c, closing at $5.36¾ a bu, Kansas City March gained 8¾c, closing at $6.24¼ a bu, and Minneapolis March gained 6¾c, closing at $6.10¾ a bu. March corn gained 1¾c, closing at $4.35¾ a bu. March soybeans rose 10c, closing at $12.96¾ a bu. March soybean meal rose $7.90, closing at $434 a ton. March soybean oil fell 0.19, closing at 37.45 a lb.

    Major U.S. stock indexes tumbled Monday on weaker-than-expected manufacturing data that led to a steep selloff of riskier assets. The Dow Jones Industrial Average fell more than 326 points, closing at 15,372.8. The Standard & Poor’s 500 Index declined close to 41 points, closing at 1,741.89. The Nasdaq Composite Index fell almost 107 points, closing at 3,996.958.

    The value of the U.S. dollar against the euro was lower Monday.

    Crude oil futures ended lower Monday on world economic worries. The March contract fell $1.06, closing at $96.43 a barrel.

    Gold futures ended higher Monday on a flight to safety amid world economic jitters. The February contract gained $20.30, closing at $1,260.40 an oz.

Recap for January 31

    Old-crop corn futures, as well as wheat and most of the soy complex, ended higher Friday on evidence of strong export demand for corn and soybeans and a technical correction of oversold conditions in wheat futures. Chicago March wheat gained 2¼c, closing at $5.55¾ a bu, Kansas City March gained 4¾c, closing at $6.15½ a bu, and Minneapolis March rose 6¾c, closing at $6.04 a bu. March corn added ½c, closing at $4.34 a bu. March soybeans gained 7¾c, closing at $12.82¾ a bu. March soybean meal gained 90c, closing at $426.10 a ton. March soybean oil gained 0.57c, closing at 37.64c a lb. 

    Major U.S. stock indexes finished lower Friday, capping their biggest monthly decline in more than a year, on nervousness surrounding emerging markets that could be negatively impacted by the tapering of the Fed’s program of quantitative easing. The Dow Jones Industrial Average fell almost 150 points, closing at 15,698.85. The Standard & Poor’s 500 Index fell almost 12 points, closing at 1,782.59. The Nasdaq Composite Index lost more than 19 points, closing at 4,103.88.

    The value of the U.S. dollar against the euro was higher Friday.

    Crude oil futures fell Friday on jitters over possible ramifications of the Fed continuing to cut back on its easy-money policy. The March contract fell 74c, closing at $97.49 a barrel.

    Gold futures fell Friday on a slump in Chinese demand related to the Chinese New Year holiday that lasts a week and on concerns about worldwide effects of the Fed’s decision to taper its bond-buying program. The February contract lost $2.10, closing at $1,240.10 an oz.

Recap for January 30

    Corn, most wheat futures and soybean and soybean meal futures rose Thursday on favorable export news while Minneapolis wheat and soybean oil futures settled modestly lower. Chicago March wheat gained 2c, closing at $5.53½, Kansas City March rose 2c, closing at $6.10¾ and Minneapolis March fell ¾c, closing at $5.97¼ a bu. March corn gained 6c, closing at $4.33½ a bu. March soybeans rose 5¾c, closing at $12.75 a bu. March soybean meal gained $1.90, closing at $425.20 a ton. March soybean oil fell 0.03c, closing at 37.07c a lb.

     Major U.S. stock indexes rallied Thursday on news of a 3.2% annual growth rate in the fourth quarter of 2013. The Dow Jones Industrial Average rose almost 110 points, closing at 15,848.61. The Standard & Poor’s 500 Index made its biggest gain in more than a month, rising almost 20 points and closing at 1,794.19. The Nasdaq Composite Index gained almost 72 points, closing at 4,123.13.

    The value of the U.S. dollar against the euro was higher Thursday.

    Crude oil futures ended higher Thursday on a healthy 3.2% annual growth rate in the fourth quarter of 2013. The March contract gained 87c, closing at $98.23 a barrel.

    Gold futures fell Thursday on profit-taking amid a stronger equities market. The February contract fell $20, closing at $1,242.20 an oz.

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