Ag commodities mixed amid extreme cold; U.S. equities end lower

by Staff
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Recap for January 6

    Extreme cold hit the midsection of North America Monday and corn futures rose on expectations for more demand from livestock producers. Old-crop wheat futures were steady to higher while new-crop contracts were steady to slightly lower, despite concerns about winter kill. Old-crop soybean futures gained ground along with soybean meal futures while soybean oil futures eased on expectations dry weather in Brazil may cut yields. Chicago March wheat was steady at $6.05¾ a bu, Kansas City March rose 1½c, closing at $6.44 a bu, and Minneapolis March was unchanged at $6.30½ a bu. March corn gained 4¼c, closing at $4.27¾ a bu. January soybeans gained 7½c, closing at $12.96¾ a bu. January soybean meal gained $4.30, closing at $428.80 a ton. January soybean oil fell 0.47c, closing at 37.87c a lb.

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    Major U.S. stock indexes fell Monday on mixed domestic economic data. The Dow Jones Industrial Average fell close to 45 points, closing at 16,425.10. The Standard & Poor’s 500 Index lost close to 5 points, closing at 1,826.77. The Nasdaq Composite Index dropped more than 18 points, closing at 4,113.68.

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

    Crude oil ended modestly lower Monday on concerns that new supplies may have trouble getting to market. The February contract fell 53c, closing at $93.43 a barrel.

    Gold futures ended little changed Monday, reversing losses early in the session, on weakness in U.S. equities. The February contract declined 60c, closing at $1,238 an oz.

Recap for January 3

    Corn, wheat, soybeans and soybean meal rebounded somewhat Friday following recent losses. Gains in corn were limited by disappointing weekly export sales. Wheat futures were supported by concerns about winterkill in some areas from frigid temperatures. Soybean oil futures ended modestly lower. Chicago March wheat rose 8¾c, closing at $6.05¾ a bu, Kansas City March gained 11¼c, closing at $6.42½ a bu, and Minneapolis March rose 5¼c, closing at $6.30½ a bu. March corn futures gained 3c, closing at $4.23½ a bu. January soybeans gained 2¼c, closing at $12.89¼ a bu. January soybean meal gained 70c, closing at $424.50 a ton. December soybean meal fell 0.17c, closing at 38.34c a lb.

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    Major U.S. stock indexes pared gains to end little changed Friday on continuing uncertainty about whether the Federal Reserve will be able to taper its accommodative monetary stance. The Dow Jones Industrial Average rose close to 29 points, closing at 16,469.99. The Standard & Poor’s 500 Index was down almost 1 point, closing at 1,831.36. The Nasdaq Composite Index lost more than 11 points, closing at 4,131.91.

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

    Crude oil futures declined Friday, extending 2014 year-to-date losses to more than 4%. The February contract declined $1.48, closing at $93.96 a barrel.

    Gold futures rose Friday in an oversold market amid weakness in equities. The February contract gained $13.40, closing at $1,238.60 an oz.

Recap for January 2

    Corn, wheat and the soy complex declined Thursday on significant beneficial rainfall in South America especially pressuring soybeans. Wheat followed, with added pressure from snow cover across the hard red winter and soft red winter wheat regions offering protection to dormant winter wheat crops. Chicago March wheat fell 8¼c, closing at $5.97 a bu, Kansas City March dropped 9¼c, closing at $6.31¼ a bu, and Minneapolis March lost 10c, closing at $6.25¼ a bu. March corn fell 1½c, closing at $4.20½ a bu. January soybeans fell 25½c, closing at $12.87 a bu. January soybean meal fell $13.90, closing at $423.80 a ton. January soybean oil fell 0.31c, closing at 38.51c a lb.

Click the chart to view full-size:

    Major U.S. stock indexes fell Thursday as investors took profits following 2013, a banner year for equities. The Dow Jones Industrial Average declined more than 135 points, closing at 16,441.35. The Standard & Poor’s 500 Index fell more than 16 points, closing at 1,831.98. The Nasdaq Composite Index declined close to 34 points, closing at 4,143.07.

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

    Crude oil dropped 3% Thursday on prospects for more Libyan supplies and bigger domestic inventories. The February contract declined $2.98, closing at $95.44 a barrel.

    Gold futures rebounded 1.5% Thursday, following a 28% decline in 2013. The February contract gained $22.90, closing at $1,225.20 an oz.

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