Recap for November 18

  • Corn and soybean futures were pressured Monday by forecasts for better crop weather in South American growing areas and uncertainty about U.S.-China trade talks. Nearby corn fell to an eight-week low, and soybeans fell to a seven-week low. Wheat futures were mixed as short covering boosted winter wheat contracts while spring wheat futures followed corn and soybeans lower. January soybeans fell 8c to close at $9.10¼ a bu. January soybean meal was down $5.40 to close at $303.80 a ton. January soybean oil rose 0.22c to close at 30.82c a lb. December corn was 3½c lower at $3.67¾ a bu. Chicago December wheat rose 4½c to close at $5.07¼ a bu. Kansas City December wheat edged up 1½c to close at $4.18½ a bu. Minneapolis December wheat eased ½c to close at $5.03¼ a bu.
  • U.S. equity markets ended with small gains Monday in quieter trade amid the lack of major market-moving news or reports but added to record high closes from last week. The Dow Jones Industrial Average gained 31.33 points to close at 28,036.22. The Standard & Poor’s 500 Index edged up 1.57 points to close at 3,122.03. The Nasdaq Composite advanced 9.11 points to close at 8,549.94.
  •  The value of the U.S. dollar declined on Monday.
  • U.S. crude oil prices were lower Monday. The December contract fell 67c to close at $57.05 a barrel.
  • U.S. gold futures advanced as the U.S. dollar weakened on Monday. The December contract was up $3.40 to close at $1,471.90 an oz.

Recap for November 15

  • U.S. equity markets rallied on gains in a wide range of sectors Friday, propelling the Dow industrials past 28,000 for the first time. The Dow Jones Industrial Average jumped 222.93 points, or 0.8%, to close at 28,004.89. The Standard & Poor’s 500 Index added 23.83 points, or 0.77%, to close at 3,120.46. The Nasdaq Composite advanced 61.81 points, or 0.73%, to close at 8,540.83.
  •  Soybean and soybean meal futures advanced Friday after White House economic adviser Larry Kudlow said Thursday evening U.S. and China were “getting close” to a deal. Soybean oil futures eased. Corn futures eased despite export sales within the range of analyst expectations, perhaps on quality issues. Led by Minneapolis, wheat futures continued declines begun midweek. January soybeans added 1½c to close at $9.18¼ a bu. January soybean meal was up $3.90 to close at $309.20 a ton. January soybean oil fell 0.37c to close at 30.60c a lb. December corn was 4½c lower at $3.71¼ a bu. Chicago December wheat shed 5c to close at $5.02¾ a bu. Kansas City December wheat subtracted 5¼c to close at $4.17 a bu. Minneapolis December wheat declined 9c to close at $5.03¾ a bu.
  • The U.S. dollar continued to weaken Friday.
  • U.S. crude oil prices were higher Friday. The December contract was up 95c to close at $57.72 a barrel.
  • U.S. gold futures declined despite the weaker U.S. dollar. The December contract was down $4.90 to close at $1,468.50 an oz.

Recap for November 14

  • Mounting doubts about the chances of Washington and Beijing establishing a trade deal anytime soon sent U.S. soybean futures to a one-month low Thursday. Soymeal followed while soybean oil ticked higher. Corn edged higher while wheat futures, burdened by ample global supplies and the return of Russian wheat as a chief competitor, eased.  November soybeans declined 2¼c to close at $9.00¼ a bu. December soybean meal was down $1 to close at $303.10 a ton. December soybean oil added 0.25c to close at 30.78c a lb. December corn was ½c higher at $3.75¾ a bu. Chicago December wheat dipped 1¼c to close at $5.07¾ a bu. Kansas City December wheat subtracted 2½c to close at $4.22¼ a bu. Minneapolis December wheat declined 2½c to close at $5.12¾ a bu.
  • U.S. equity markets were mixed Thursday with the S&P 500 the only major market to eke out a gain and a fresh record. The S&P turned higher in the last hour of trading on gains in shares of real estate, communication and materials companies as well as consumer-discretionary stocks. The Dow Jones Industrial Average eased 1.63 points, or 0.01%, to close at 27,781.96. The Standard & Poor’s 500 Index added 2.59 points, or 0.08%, to close at 3,096.63. The Nasdaq Composite subtracted 3.08 points, or 0.04%, to close at 8,479.02.
  • The U.S. dollar eased Thursday.
  • U.S. crude oil prices eased within a recently-tight range Thursday after a weekly Energy Information Administration report indicated U.S. stockpiles rose more than analysts expected. The December contract was down 35c to close at $56.77 a barrel.
  • U.S. gold futures advanced as the dollar declined Thursday. The December contract was up $10.10 to close at $1,473.40 an oz.

Recap for November 13

  • Corn futures closed lower Wednesday on trade deal pessimism that also scuttled a stabilization process in soybean futures. Headlines midday indicated China balked at specific purchase volumes of U.S. agriculture products, putting the “Phase One” deal in jeopardy. Wheat futures gave back nearly all of Tuesday’s gains. November soybeans declined 3¼c to close at $9.02½ a bu. December soybean meal was up $1.80 to close at $304.10 a ton. December soybean oil fell 0.5c to close at 30.53c a lb. December corn was 2½c lower at $3.75¼ a bu. Chicago December wheat shed 8c to close at $5.09 a bu. Kansas City December wheat subtracted 14c to close at $4.24¾ a bu. Minneapolis December wheat declined 6½c to close at $5.15¼ a bu.
  •  U.S. equity markets were mixed Wednesday on U.S.-China negotiation news and parsing of Federal Reserve interest-rate policy. The Dow industrials and S&P 500 each notched record highs. The Dow Jones Industrial Average jumped 92.10 points, or 0.33%, to close at 27,783.59 a day after closing unchanged. The Standard & Poor’s 500 Index added 2.20 points, or 0.07%, to close at 3,094.04. The Nasdaq Composite dipped 3.99 points, or 0.05%, to close at 8,482.10.
  • The U.S. dollar edged higher Wednesday.
  • .S. crude oil prices were higher Wednesday. The December contract was up 32c to close at $57.12 a barrel.
  • U.S. gold futures advanced even as the dollar firmed. The December contract was up $9.60 to close at $1,463.30 an oz.

Recap for November 12

  • Fears that this week’s severe cold snap may damage winter wheat helped the wheat futures rally Tuesday. Traders said grain prices were due for a rebound, and corn advanced as well. Soybean futures eked out a minuscule gain after touching a five-week low the day before. November soybeans edged up ¾c to close at $9.05¾ a bu. December soybean meal was up $1.70 to close at $302.30 a ton. December soybean oil fell 0.39c to close at 31.03c a lb. December corn was 4½c higher at $3.77¾ a bu. Chicago December wheat added 11¼c to close at $5.17 a bu. Kansas City December wheat jumped 16c to close at $4.38¾ a bu. Minneapolis December wheat added 6½c to close at $5.21¾ a bu.
  •  U.S. equity markets spent the day oscillating between small gains and losses as investors scrutinized President Donald Trump’s statements that Phase One of a U.S.-China deal was near but emphasized he would only sign a deal favorable to the United States. The Dow Jones Industrial Average closed unchanged at 27,691.49. The Standard & Poor’s 500 Index added 4.83 points, or 0.16%, to close at 3,091.84. The Nasdaq Composite gained 21.81 points, or 0.26%, to close at 8,486.09.
  • The U.S. dollar reversed course Tuesday and moved higher after dipping Monday.
  • U.S. crude oil eased Tuesday. The December contract was down 6c to close at $56.80 a barrel.
  • U.S. gold futures dipped as the dollar stood tall. The December contract was down $3.40 to close at $1,453.70 an oz.