Recap for September 19

  • Soybean and corn futures rose Thursday after the U.S. Department of Agriculture indicated stronger weekly export sales. Winter wheat futures eased and spring wheat futures advanced in a market underpinned by dry pre-harvest conditions in Australia and Argentina and parched soils in Europe and the Black Sea region ahead of planting. December corn rose 1½c to close at $3.72¾ a bu. November soybeans added 4¼c to close at $8.93 a bu. October soybean meal rose 60c to close at $292.20 a ton. October soybean oil eased 0.06c to close at 29.81c a lb. Chicago December wheat was down 1½c to close at $4.88 a bu. Kansas City December wheat edged lower, dropping ¼c to close at $4.09¼ a bu. Minneapolis December advanced 7c to close at $5.20¼ a bu.
  • U.S. equity markets were mixed in a small range a day after the Federal Reserve announced an interest rate cut. The Dow Jones Industrial Average fell 52.29 points, or 0.19%, to close at 27,094.79. The Standard & Poor’s 500 Index edged up 0.06-point, or 0.0%, to close at 3,006.79. The Nasdaq Composite edged up 5.49 points, or 0.07%, to 8,182.88.
  • U.S. crude oil futures edged higher Thursday after attacks on Saudi oil infrastructure caused them to swing wildly earlier in the week. The October contract was up 2c to close at $58.13 a barrel.
  • The value of the U.S. dollar strengthened Thursday.
  • U.S. gold futures declined as the dollar advanced. The October contract fell $9.60 to close at $1,499.50 an oz.

Recap for September 18

  • Wheat futures were higher Wednesday as the market saw a flurry of tenders as helpful in reducing hefty global supplies. Corn received a short-covering bounce. Mild crop weather pushed soybean futures lower. Chicago December wheat was up 5¼c to close at $4.89½ a bu. Kansas City December wheat gained 7½c to close at $4.09¾ a bu. Minneapolis December advanced 6¾c to close at $5.13¼ a bu. December corn rose 3¼c to close at $3.71¼ a bu. November soybeans dropped 5c to close at $8.88¾ a bu. October soybean meal fell $2.50 to close at $291.60 a ton. October soybean oil edged up 0.02c to close at 29.87c a lb.
  • U.S. equity markets were mixed Wednesday after the Federal Reserve lowered interest rates but indicated officials with the central bank weren’t in agreement about the prospect of further rate cuts in 2019. The Dow Jones Industrial Average added 36.28 points, or 0.13%, to close at 27,147.08. The Standard & Poor’s 500 Index edged up 1.03 points, or 0.3%, to close at 3,006.73. The Nasdaq Composite lost 8.62 points, or 0.11%, to close at 8,177.39.
  • U.S. crude oil retreated further Wednesday after a government report indicated a rise in weekly U.S. oil and product inventory data. The October contract was down $1.23 to close at $58.11 a barrel.
  • The value of the U.S. dollar strengthened Wednesday.
  • U.S. gold futures advanced despite the stronger dollar. The October contract rose $2.20 to close at $1,509.10 an oz.

Recap for September 17

  • U.S. crude oil futures declined a day after sharp advances. Saudi Arabia said it would soon restore oil output from two facilities attacked over the weekend. The October contract was down $3.56 to close at $59.34 a barrel.
  • Declines in crude oil prices, which helped fuel Monday’s gains in agricultural futures, pressed U.S. corn futures to a lower close for the first time in four sessions. Better-than-expected corn crop condition ratings provided additional pressure. Soybeans dipped, too, despite confirmation of sales to China and on warm weather forecasts for the Midwest, which lessened fears of frost threat. November soybeans dropped 6¼c to close at $8.93¾ a bu. October soybean meal fell $1.10 to close at $294.10 a ton. October soybean oil declined 0.29c to close at 29.85c a lb. Chicago December wheat fell 4½c to close at $4.84¼ a bu. Kansas City December wheat dropped 6¾c to close at $4.02¼ a bu. Minneapolis December declined 2½c to close at $5.06½ a bu. December corn fell 6c to close at $3.68 a bu.
  • Crude oil’s retreat bolstered U.S. equity markets Tuesday as investors looked ahead to an expected interest rate cut from the Federal Reserve. The Dow Jones Industrial Average added 33.98 points, or 0.1%, to close at 27,110.80. The Standard & Poor’s 500 Index rose 7.74 points, or 0.3%, to close at 3,005.70 with 9 of 11 sectors advancing. The Nasdaq Composite gained 32.47 points, or 0.4%, to close at 8,186.02. The three major indexes are within 2% of their individual all-time highs reached in July.
  • The value of the U.S. dollar sweakened Tuesday.
  • U.S. gold futures advanced as the dollar declined. The October contract rose $2.10 to close at $1,506.90 an oz.

Recap for September 16

  • Concern that weekend attacks on Saudi Arabian oil facilities could result in supply shortages and threaten the global economy pushed U.S. crude oil futures sharply higher Monday. The October contract was up $8.05 to close at $62.90 a barrel.
  • Confirmation of Chinese purchase of U.S. soybeans that rallied prices last week continued to support futures Monday. Corn advanced despite favorable crop weather on support from sharply higher crude oil prices. Corn and soybeans helped the wheat complex advance, as did reports of dry weather in Argentina and Australia. November soybeans added 1½c to close at $9 a bu. October soybean meal fell $2.70 to close at $295.20 a ton. October soybean oil surged 0.85c to close at 30.14c a lb. Chicago December wheat rose 5¼c to close at $4.88¾ a bu. Kansas City December wheat added 9¼c to close at $4.09 a bu. Minneapolis December advanced 3¼c to close at $5.09 a bu. December corn added 5¼c to close at $3.74 a bu.
  • Soaring oil prices pressured U.S. equity markets Monday as investors explored safe haven assets. The Dow Jones Industrial Average dropped 142.70 points, or 0.52%, to close at 27,076.82, snapping an eight-session winning streak as 9 of the index’s 11 sectors faltered. The Standard & Poor’s 500 Index fell 9.43 points, or 0.31%, to close at 2,997.96. The Nasdaq Composite subtracted 23.17 points, or 0.28%, to close at 8,153.54.
  • The value of the U.S. dollar strengthened Monday.
  • U.S. gold futures advanced despite a stronger dollar as gold is viewed as a safe haven investment. The October contract rose $11.90 to close at $1,504.80 an oz.

Recap for September 13

  • China’s first large purchase of U.S. soybeans in months continued to boost the soy complex Friday, and soybean futures hit a six-week high. Eased import duties for U.S. goods into China signaled potential headway in trade negotiations, and short covering helped corn futures edge higher. Wheat futures were mixed and traded in narrow ranges in the absence of big market pushers or pullers. November soybeans added 3¼c to close at $8.98¾ a bu. October soybean meal advanced 30c to close at $297.90 a ton. October soybean oil added 0.28c to close at 29.29c a lb. Chicago December wheat fell ¼c to close at $4.83½ a bu, though later months edged higher. Kansas City December wheat fell 3¾ to close at $3.99¾ a bu. Minneapolis December eased 1¾c to close at $5.05½ a bu. December corn advanced 1½c to $3.68¾ a bu.
  • Despite mixed closes Friday, all three major U.S. equity markets notched weekly gains for a third straight week. The Dow Jones Industrial Average added 37.07 points, or 0.14%, to close at 27,219.52. The Standard & Poor’s 500 Index fell 2.18 points, or 0.07%, to close at 3,007.39. The Nasdaq Composite fell 17.75 points, or 0.22%, to close at 8,176.71. The D.J.I.A. and S&P 500 were within about 0.6% of their July highs.
  • U.S. crude oil futures edged lower Friday, the October contract was down 24c to close at $54.85 a barrel.
  • The value of the U.S. dollar weakened Friday.
  • U.S. gold futures declined despite a weaker dollar. The October contract fell $7.90 to close at $1,492.90 an oz.