Recap for December 6

  • China’s announcement it would waive tariffs for some American farm products boosted optimism for a potential trade agreement and soybean futures closed higher Friday. Hard winter wheat futures declined on ample global supplies. Spring wheat futures eased while soft red winter mostly edged higher. Corn futures were narrowly mixed. December corn was 1c higher at $3.66½ a bu, though later months were mixed. Chicago December wheat was up ½c at $5.32½ a bu, and later months were mixed. Kansas City December wheat fell 5¼c to close at $4.15 a bu. Minneapolis December wheat declined 1c to $4.97 a bu. January soybeans advanced 5¼c to close at $8.89½ a bu. January soybean meal declined $2.10 to close at $297.40 a ton. January soybean oil added 0.72c to close at 31.01c a lb.
  • U.S. equity markets closed sharply higher Friday on signs the U.S. economy is withstanding a global slowdown. The Labor Department’s jobs report indicated employers added 266,000 jobs in November and unemployment matched a 50-year low of 3.5%. The Dow Jones Industrial Average advanced 337.27 points, or 1.22%, to close at 28,015.06. The Standard & Poor’s 500 Index added 28.48 points, or 0.91%, to close at 3,145.91. The Nasdaq Composite added 85.83 points, or 1%, to close at 8,656.53.
  • U.S. crude oil futures advanced on Friday. The January future was up 77c to $59.20 per barrel.
  • The value of the U.S. dollar closed higher Friday.
  • U.S. gold futures declined as the dollar advanced. The December future was down $17.80 to $1,459.10 an oz.

Recap for December 5

  • Strength in soybean meal futures from financial difficulties at an Argentine soy crusher carried over to soybean futures for modest gains on Thursday, with additional support from signs of a pickup in export demand. Meanwhile, weak export demand pushed corn and wheat futures lower. December corn was 3¼c lower at $3.65½ a bu. Chicago December wheat was down 3c at $5.32 a bu. Kansas City December wheat fell 5c to close at $4.20¼ a bu. Minneapolis December wheat advanced 1¾c to $4.98 a bu, though all forward months declined. January soybeans advanced 6¼c to close at $8.84¼ a bu. January soybean meal advanced $4.80 to close at $301.50 a ton. January soybean oil added 0.03c to close at 30.50c a lb.
  • U.S. equity markets closed slightly higher in subdued trading ahead of a jobs report due Friday. Major indexes were still lower for the week but maintained double-digit gains for the year. The Dow Jones Industrial Average advanced 28.01 points, or 0.1%, to close at 27,677.79. The Standard & Poor’s 500 Index added 4.67 points, or 0.15%, to close at 3,117.43. The Nasdaq Composite added 4.03 points, or 0.05%, to close at 8,570.70.
  • U.S. crude oil futures were little changed on Thursday as an OPEC meeting ran beyond its scheduled end time. The January future was unchanged at $58.43 per barrel.
  • The value of the U.S. dollar continued to decline Thursday.
  • U.S. gold futures advanced as the dollar slid. The December future was up $2.90 to $1,476.90 an oz.

Recap for December 4

  • U.S. crude oil futures advanced Wednesday to their highest levels in two months. A day earlier, Saudi Arabia said it intends to push for OPEC and its partners to extend restrictions on oil output through mid-2020. The cartel is set to meet at week’s end in Vienna to discuss the matter. The January future was up $2.33 at $58.43 per barrel.
  • Renewed global trade optimism and bargain buying boosted U.S. soy complex futures Wednesday. Corn futures were ahead early in the session but gave up gains on technical selling. Wheat futures posted small gains mostly on technical trading amid limited market news after mostly declining early in the week. December corn was 3¼c lower at $3.68¾ a bu. Chicago December wheat was up 4½c to close at $5.35 a bu. Kansas City December wheat added 2¾c to close at $4.25¼ a bu. Minneapolis December wheat advanced 2¼c to close at $4.96¼ a bu. January soybeans advanced 7c to close at $8.78 a bu. January soybean meal advanced $2 to close at $296.70 a ton. January soybean oil added 0.28c to close at 30.47c a lb.
  •  U.S. equity markets reversed course and closed higher Wednesday as investors grew optimistic a phase one of a U.S.-China trade deal would be inked by Dec. 15 when American tariffs are set to rise. Gains were limited by signs of an economic slowdown, namely a report showing the U.S. private sector added 67,000 jobs in November, far below analysts’ forecasts for a gain of 156,000. The Dow Jones Industrial Average jumped 146.97 points, or 0.53%, to close at 27,649.78 a day after notching its biggest
  • single-day pullback since early October. The Standard & Poor’s 500 Index added 19.56 points, or 0.63%, to close at 3,112.76. The Nasdaq Composite advanced 46.03 points, or 0.54%, to close at 8,566.67.
  •  The value of the U.S. dollar eased Wednesday.
  • U.S. gold futures slid despite a weaker dollar. The December future was down $4.20 to $1,474 an oz.

Recap for December 3

  • Nearby winter wheat futures were sharply lower Tuesday as profit-taking and technical selling continued, while spring wheat futures advanced. Corn futures were mixed, but mostly higher, after the U.S. Department of Agriculture late Monday indicated the U.S. harvest was 9 percentage points behind the normal pace. Soybeans attempted minor rallies, but stymied by trade negotiation concerns, only managed to edge higher in a small range. December corn was 1½c lower at $3.72 a bu, though most later months edged higher. Chicago December wheat declined 12¾c to close at $5.30½ a bu. Kansas City December wheat declined 14¾c to close at $4.22½ a bu. Minneapolis December wheat advanced 4½c to $4.94 a bu. January soybeans edged up ½c to close at $8.71 a bu. January soybean meal advanced $1.20 to close at $292.50 a ton. January soybean oil added 0.03c to close at 29.99c a lb.
  •  U.S. equity markets kept declining Tuesday with the Dow industrials marking its biggest one-day retreat since October after President Donald Trump indicated a trade deal with China may not come anytime soon. The Dow Jones Industrial Average fell 280.23 points, or 1.01%, to close at 27,502.81. The Standard & Poor’s 500 Index declined 20.67 points, or 0.66%, to close at 3,093.20. The Nasdaq Composite fell 47.34 points, or 0.55%, to close at 8,520.64.
  •  The value of the U.S. dollar weakened Tuesday.
  • U.S. crude oil futures edged higher Tuesday. The January future was up 14c at $56.10 per barrel.
  • U.S. gold futures climbed Tuesday as the U.S. dollar eased. The December future was up $15.90 at $1,478.20 an oz.

Recap for December 2

  • Technical buying despite indications of slumping demand boosted corn futures Monday. Soybean futures, under pressure from ideas of a gargantuan harvest in Brazilian, opened the week with a decline as traders kept waiting for signs of trade negotiation progress between Washington and Beijing. Wheat futures were lower, the Chicago future nearing session lows on profit taking a session after hitting a six-month high. Disappointing weekly U.S. export inspections also pressured wheat. December corn was 2¼c higher at $3.73½ a bu. Chicago December wheat declined 4¼c to close at $5.43¼ a bu. Kansas City December wheat declined 1½c to close at $4.37¼ a bu. Minneapolis December wheat dropped 5c to $4.89½ a bu. January soybeans fell 6¼c to close at $8.70½ a bu. January soybean meal advanced 40c to close at $291.30 a ton. January soybean oil dropped 0.46c to close at 29.96c a lb.
  • U.S. equity markets took a step backward Monday after posting their best month since June. Early gains reversed course after President Donald Trump tweeted his intent to restore tariffs on U.S. imports of steel and aluminum originating in Brazil and Argentina and accused those countries of devaluing their currencies. The slide gained momentum following the release of an Institute for Supply Management report indicating the manufacturing index decreased to 48.1 in November from 48.3 in October, marking the fourth straight sub-50 reading. The Dow Jones Industrial Average fell 268.37 points, or 0.96%, to close at 27,783.04. The Standard & Poor’s 500 Index declined 27.11 points, or 0.86%, to close at 3,113.87. The Nasdaq Composite fell 97.48 points, or 1.12%, to close at 8,567.99.
  • The value of the U.S. dollar eased Monday.
  • Buoyed by ideas of longer-than-expected production cuts by the Organization of the Petroleum Exporting Countries and its allies, U.S. crude oil futures advanced on Monday. The January future was up 79c at $55.96 per barrel.
  • U.S. gold futures slid even as the dollar weakened. The December future was down $3.30 at $1,462.30 an oz.