Recap for October 30
Corn and wheat futures fell Wednesday, as did some soybean meal futures. Soybean and soybean oil futures gained ground. Gains in soybeans reflected signs of increased demand amid tight inventories. Corn was modestly down on harvest pressure and wheat declined on beneficial rains for winter wheat in the country’s midsection. Chicago December wheat fell 6¼c, closing at $6.75 a bu, Kansas City December fell 4c, closing at $7.47¾ a bu, and Minneapolis December declined 4½c, closing at $7.32 a bu. December corn futures fell 1¾c, closing at $4.30¼ a bu. November soybeans gained 8½c, closing at $12.87½ a bu. December soybean meal gained $1, closing at $411.80 a ton. December soybean oil gained 65c, closing at 41.62 a lb.
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Major U.S. stock indexes were lower Wednesday after a surprisingly upbeat assessment of the economy by the Federal Reserve, which plans to make no immediate changes in its stimulative monetary policy. The Dow Jones Industrial Average fell close to 62 points, closing at 15,618.76. The Standard & Poor’s 500 Index fell close to 9 points, closing at 1,763.31. The Nasdaq Composite Index fell close to 22 points, closing at 3,930.62.
The value of the U.S. dollar against the euro was higher Wednesday.
Crude oil fell on higher inventories. The December contract fell $1.43, closing at $96.77 a barrel.
Gold futures moved up on perceptions that the Fed stance may be moving toward becoming marginally less accommodative. The December contract gained $3.80, closing at $1,349.30 an oz.
Recap for October 29
Corn, wheat and the soy complex ended mixed Tuesday with profit-taking after Monday’s selloff and forecasts for rain in the Midwest that could slow the row-crop harvests. Chicago December wheat gained ¼c, closing at $6.81¼ a bu, but most deferred contracts closed slightly lower. Kansas City December wheat gained 1c, closing at $7.51¾ a bu. Minneapolis December was steady at $7.36½ a bu, with deferred contracts mixed. December corn futures gained 1¼c, closing at $4.32 a bu. November soybeans gained 7¾c, closing at $12.79 a bu. December soybean meal fell $3.90, closing at $410.80 a ton. December soybean oil gained 0.61c, closing at 40.97 a lb.
Major U.S. stock indexes were higher Tuesday and the Dow Jones Industrial Average and Standard & Poor’s 500 Index settled at record highs as acceptable corporate earnings boosted share prices. The Dow Jones Industrial Average moved up more than 111 points, closing at 15,680.35. The Standard & Poor’s 500 Index gained almost 10 points, closing at 1,771.95. The Nasdaq Composite Index rose more than 12 points, closing at 3,952.34.
The value of the U.S. dollar against the euro was higher Tuesday.
Crude oil futures fell modestly Tuesday on expectations of higher inventories. The December contract fell 48c, closing at $98.20 a barrel.
Gold futures fell Tuesday on a stronger dollar and expectations that the Federal Reserve will decide to leave in place its stimulative monetary policy. The October contract fell $6.80, closing at $1,345.20 an oz.
Recap for October 28
Corn, wheat and the soy complex declined Monday on growing harvest pressure. Chicago December wheat fell 9¾c, closing at $6.81 a bu, Kansas City wheat fell 8¼c, closing at $7.50¾ a bu, and Minneapolis wheat settled 8½c lower, closing at $7.36½ a bu. December corn futures fell 9¼c, closing at $4.30¾ a bu. November soybeans tumbled 28¾c, closing at $12.71¼ a bu. December soybean meal fell $8.80, closing at $414.70 a ton. December soybean oil fell 0.37c, closing at $40.36 a lb.
Major U.S. stock indexes ended little changed Monday as the market digested mixed economic data and disappointing earnings from blue-chip pharmaceutical company Merck. The Dow Jones Industrial Average fell 1.35 points, closing at 15,568.93. The Standard & Poor’s 500 Index gained 2.34 points, closing at another record high of 1,762.11. The Nasdaq Composite Index fell more than 3 points, closing at 3,940.13.
The value of the U.S. dollar against the euro was higher Monday.
Crude oil futures gained ground Monday on an increase in U.S. industrial production. The December contract gained $0.83, closing at $98.68.
Gold fell slightly Monday after trading higher for much of the session on ideas the Federal Reserve will keep its monetary policy intact. The October contract lost $0.40, closing at $1,352 an oz.