Recap for September 30

  • US grain and oilseed futures rallied sharply Wednesday after bullish reports from the USDA. Wheat futures were higher, led by hard red winter wheat, after the USDA estimated lower production and stocks. The USDA’s appraisal of Sept. 1 corn stocks fell below the low end of trade expectations, sending those futures higher. The benchmark November soybean contract hit a one-week high after the USDA’s soybean stocks figure came in below the average of trade expectations. December corn jumped 14¼¢ to close at $3.79 a bu. Chicago December wheat shot up 28½¢ to close at $5.78 a bu. Kansas City December wheat skyrocketed 33¾¢ to close at $5.09¾ a bu. Minneapolis December wheat added 15¾¢, closing at $5.40¼ a bu. November soybeans were up 30½¢ to close at $10.23½ a bu. October soybean meal rose $12.40 to close at $339.70 a ton. October soybean oil advanced 0.50¢ to close at 33.37¢ a lb.
  • US equity markets climbed Wednesday to end the third quarter on a high note. Despite a volatile September, the Dow industrials index and S&P 500 gained 7.6% and 8.5%, respectively, over the July-September period, each up more than 26% since the end of March. The technology-heavy Nasdaq advanced 11% in the third quarter and 45% over the April-September period, the index’s largest two-quarter gain since 2000. The Dow Jones Industrial Average added 329.04 points, or 1.20%, to close at 27,781.70 points. The Standard & Poor’s 500 Index gained 27.53 points, or 0.83%, to close at 3,363.00 points. The Nasdaq Composite advanced 82.26 points, or 0.74%, to close at 11,167.51 points.
  • US crude oil futures closed higher Wednesday. The November contract advanced 93¢ to $40.22 a barrel.
  • The December US dollar index was unchanged Wednesday while the March index edged higher.
  • US gold futures declined. The October future fell $6.80 to close at $1,887.50 per oz.

Recap for September 29

  • Corn futures slipped Tuesday as funds sought short positions ahead of Wednesday’s USDA grain stocks report and prior to Chinese markets going on holiday. The USDA also will issue its final wheat estimates for the year in its annual Small Grains Summary report. Soybean futures remained in a correction period with the 6th lower close of the past seven sessions amid harvest pressure. With little new information to influence wheat futures, trade turned to inner-market spreads with hard red winter and spring wheat losing to Chicago. December corn was down 2¢ to close at $3.64¾ a bu. Chicago December wheat eased ¾¢ to close at $5.49½ a bu. Kansas City December wheat shed 6¾¢ to close at $4.76 a bu. Minneapolis December wheat fell 5¢, closing at $5.24½ a bu. November soybeans were down 3¼¢ to close at $9.93 a bu, though some 2021-22 futures edged higher. October soybean meal fell $5.30 to close at $327.30 a ton, with most 2021 contracts higher. October soybean oil declined 0.42¢ to close at 32.87¢ a lb.
  • US equity markets retreated Tuesday following two sessions of solid gains. Analysts linked the easing indexes to uncertainty before the first presidential debate and a mild coronavirus resurgence in places such as New York City. The Dow Jones Industrial Average dipped 131.40 points, or 0.48%, to close at 27,452.66 points. The Standard & Poor’s 500 Index shed 16.13 points, or 0.48%, to close at 3,335.47 points. The Nasdaq Composite lost 32.28 points, or 0.29%, to close at 11,085.25 points.
  • US crude oil futures eased Tuesday. The November contract was down $1.31 to $39.29 a barrel.
  • The US dollar index weakened for a second day Tuesday.
  • US gold futures advanced as the dollar declined. The October future advanced $21.50 to close at $1,894.30 per oz.

Recap for September 28

  • Wheat futures were mixed with winter wheat futures advancing on weather issues for key competitors, including crop frost damage in Australia and dryness in the Black Sea region. Harvest pressure weighed on soybean futures. Corn futures traded higher and lower in an 8¢ range before edging higher near the close. December corn was up 1½¢ to close at $3.66¾ a bu. Chicago December wheat advanced 6¢ to close at $5.50¼ a bu. Kansas City December wheat added 7½¢ to close at $4.82¾ a bu. Minneapolis December wheat eased ¼¢, closing at $5.29½ a bu. November soybeans were down 6¼¢ to close at $9.96¼ a bu. October soybean meal fell $4.30 to close at $332.60 a ton. October soybean oil advanced 0.45¢ to close at 33.29¢ a lb.
  • Advances in shares of economically sensitive stocks such as banks and energy companies pushed US equity markers higher Monday. The Dow Jones Industrial Average advanced 410.10 points, or 1.51%, to close at 27,584.06 with 27 or 30 stocks rising. The Standard & Poor’s 500 Index added 53.14 points, or 1.61%, to close at 3,351.60 points, with all 11 sectors advancing. The Nasdaq Composite added 203.96 points, or 1.87%, to close at 11,117.53 points.
  • US crude oil futures edged higher Monday, the November contract was up 35¢ to $40.60 a barrel.
  • The US dollar index reverted to a downtrend to start the week.
  • US gold futures advanced as the dollar declined Monday, the October future was up $15 to close at $1,872.80 per oz

Recap for September 25

  • After four days of mild bargain buying, corn and most soybean futures edged higher Friday, though traders expected harvest pressure to intensify. A firmer dollar weighed on most wheat futures. December corn was up 1¾¢ to close at $3.65¼ a bu. Chicago December wheat fell 5½¢ to close at $5.44¼ a bu. Kansas City December wheat fell 7¾¢ to close at $4.75¼ a bu. Minneapolis December wheat fell 5¢, closing at $5.39¾ a bu. November soybeans were up 2½¢ to close at $10.02½ a bu. October soybean meal added $3.10 to close at $336.90 a ton. October soybean oil advanced 0.48¢ to close at 32.84¢ a lb.
  • US equity markets closed higher Friday with support from a Commerce Department report indicating new orders for durable goods in August rose 0.4% from July. But the S&P 500 notched a fourth consecutive weekly decline signaling investors’ uncertainty with rising cases of the coronavirus. The Dow Jones Industrial Average advanced 358.52 points, or 1.34%, to close at 27,173.96. The Standard & Poor’s 500 Index added 51.87 points, or 1.6%, to close at 3,298.46 points. The Nasdaq Composite added 241.30 points, or 2.26%, to close at 10,913.56 points.
  • US crude oil futures dipped Friday, the November contract was down 6¢ to $40.25.
  • The US dollar index turned higher Friday, the week’s fourth increase.
  • US gold futures declined as the dollar advanced, the October future was down $11.10 to close at $1,857.80 per oz. Gold notched the largest weekly percentage loss since March, having been under pressure from the strengthening dollar and falling inflation expectations.

Recap for September 24

  • Investors locking in gains after significant rallies sent corn and soybean futures to their lowest levels in more than a week Thursday as fall harvests ramped up. Wheat futures were mixed, with spring and soft winter wheat advancing on short covering concurrent with a stabilizing US dollar. December corn fell 5¢ to close at $3.63½ a bu. Chicago December wheat added ¾¢ to close at $5.49¾ a bu, later months were mixed but mostly edged higher. Kansas City December wheat fell 1¼¢ to close at $4.83 a bu. Minneapolis December wheat added 1¾¢, closing at $5.34¾ a bu. November soybeans were down 14½¢ to close at $10 a bu. October soybean meal slipped $8.30 to close at $333.80 a ton. October soybean oil declined 0.33¢ to close at 32.36¢ a lb.
  • US equity markets were higher Thursday as technology stocks recovered a portion of their recent losses. The S&P avoided entering correction territory with a higher close. The three indexes remain up at least 30% over the past six months. The Dow Jones Industrial Average advanced 52.31 points, or 0.2%, to close at 26,815.44. The Standard & Poor’s 500 Index edged up 9.67 points, or 2.37%, to close at 3,246.59 points. The Nasdaq Composite ticked up 39.28 points, or 0.37%, to close at 10,672.27 points.
  • US crude oil futures advanced again Thursday, the November contract was up 38¢ to $40.31.
  • The US dollar index weakened Thursday after rallying for three sessions.
  • US gold futures advanced as the dollar declined, the October future was up $8.40 to close at $1,868.90 per oz.

Recap for September 23

  • A firmer US dollar contributed to lower corn, soybean and wheat futures Wednesday. US wheat prices were too high to get a piece of large tenders, analysts said. Soybeans were lower as the pace of harvest picked up. Wheat tugged corn lower. December corn fell ¾¢ to close at $3.68½ a bu. Chicago December wheat fell 9¢ to close at $5.49 a bu. Kansas City December wheat fell 7½¢ to close at $4.84¼ a bu. Minneapolis December wheat fell 6¾¢, closing at $5.33 a bu. November soybeans were down 5¼¢ to close at $10.14½ a bu. October soybean meal advanced $4.80 to close at $342.10 a ton. October soybean oil declined 0.98¢ to close at 32.69¢ a lb.
  • US equity markets extended their losing streak to a second day as investors reevaluated the valuations of tech stocks, concerns grew over increased coronavirus cases and hopes dimmed for a second fiscal stimulus. The Dow Jones Industrial Average fell 525.05 points, or 1.92%, to close at 26,763.13. The Standard & Poor’s 500 Index fell 78.65 points, or 2.37%, to close at 3,236.92 points. The Nasdaq Composite fell 299.33 points, or 2.73%, to close at 10,664.31 points.
  • US crude oil futures advanced Wednesday, the November contract was up 13¢ to $39.93.
  • The US dollar index strengthened for a third day Wednesday.
  • US gold futures declined as the dollar strengthened, the October future was down $38.80 to close at $1,860.50 per oz.

Recap for September 22

  • Wheat futures closed higher Tuesday on signs of firming global prices. Black Sea region prices were higher for four straight weeks and Egypt’s state wheat buyer appears to have paid $7 more per tonne for Russian wheat this week than last. Soybean futures were lower on expanding harvest pressure and despite continued sales to China and good demand for soybean meal. Good US crop ratings and ideal Midwest weather pressured most corn futures. December corn fell ½¢ to close at $3.69¼ a bu. Chicago December wheat advanced 3¼¢ to close at $5.58 a bu. Kansas City December wheat added 4½¢ to close at $4.91¾ a bu. Minneapolis December wheat added 5¢, closing at $5.39¾ a bu. November soybeans were down 2¾¢ to close at $10.19¾ a bu. October soybean meal added $3.90 to close at $337.30 a ton; later months were mixed. October soybean oil declined 0.60¢ to close at 33.67¢ a lb.
  • The S&P 500 and Nasdaq Composite each snapped four-session losing streaks as US equity markets closed higher after Monday’s volatility. All three indexes were down 6% from their early-September peaks. The Dow Jones Industrial Average added 140.48 points, or 0.52%, to close at 27,288.18, breaking a streak of three lower closes. The Standard & Poor’s 500 Index added 34.51 points, or 1.05%, to close at 3,315.57 points. The Nasdaq Composite added 184.84 points, or 1.71%, to close at 10,963.64 points.
  • US crude oil futures advanced Tuesday, the expiring October contract was up 29¢ to close at $39.60 per barrel, and the November contract was up 26¢ to $39.80.
  • The US dollar index strengthened for a second day Tuesday.
  • US gold futures eased as the dollar strengthened, the October future was down $2.80 to close at $1,899.30 per oz.