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.

Recap for November 11

  • Fading optimism for a U.S.-China trade deal pressured U.S. soybean futures to a one-month low Monday. Corn and wheat futures were lower as well November soybeans dropped 14½c to close at $9.05 a bu. December soybean meal eased $4.30 to close at $300.60 a ton. December soybean oil fell 0.08c to close at 31.42c a lb. December corn was 4c lower at $3.73¼ a bu. Chicago December wheat dropped 4½c to close at $5.05¾ a bu. Kansas City December wheat added 1¼c to close at $4.22¾  a bu, though all forward months closed lower. Minneapolis December wheat eased 3¼c to close at $5.15¼ a bu.
  •  U.S. equity markets were mixed at the closing bell Monday. The Dow industrials overcame early losses for a small gain sufficient to set a ninth record of 2019. Investor focus for the most part returned to U.S.-China trade since most third-quarter earnings reports had been released. The Dow Jones Industrial Average added 10.25 points, or 0.04%, to close at 27,691.49. The Standard & Poor’s 500 Index eased 6.07 points, or 0.2%, to close at 3,087.01. The Nasdaq Composite subtracted 11.04 points, or 0.13%, to close at 8,464.28.
  • Consistent with selling in global stocks on concerns about Washington-Beijing trade negotiations, the U.S. dollar weakened slightly Monday against haven assets, the Japanese yen and Swiss franc.
  • U.S. crude oil declined Monday. The December contract was down 38c to close at $56.86 a barrel.
  • U.S. gold futures fell despite the weaker dollar. The December contract was down $5.80 to close at $1,457.10 an oz.

Recap for November 8

  • Wheat futures ended slightly lower Friday with modest declines for the week amid ongoing ample global wheat supplies. Corn futures posted small gains for the day on supportive U.S.D.A. data but were lower for the week. Soybean futures ended lower for the day and the week as hopes for a phase-one trade agreement between the United States and China faded. The U.S.D.A. slightly lowered its 2019 U.S. corn production forecast, left soybeans about the same and lowered U.S. wheat production but raised the global wheat outlook. November soybeans dropped 5½c to close at $9.19½ a bu. December soybean meal eased 70c to close at $304.90 a ton. December soybean oil edged up 0.07c to close at 31.50c a lb. December corn was 2c higher at $3.77¼ a bu. Chicago December wheat retreated 2¼c to close at $5.10¼ a bu. Kansas City December wheat lost 3¼c and closed at $4.21½ a bu. Minneapolis December wheat eased ¼c to close at $5.18½ a bu.
  •  Despite mixed late-week signals in U.S.-China trade-talks, U.S. equity markets ended the week with small to modest gains and at record highs on ideas of continued economic growth. The Dow Jones Industrial Average advanced 6.44 points to close at 27,681.24. The Standard & Poor’s 500 Index gained 7.90 points to close at 3,093.08. The Nasdaq Composite added 40.80 points to close at 8,475.31.
  • The U.S. dollar strengthened on Friday.
  • U.S. crude oil futures edged higher Friday. The December contract was up 9c to close at $57.24 a barrel.
  • U.S. gold futures eased Friday as the U.S. dollar strengthened. The December contract was down $3.50 to close at $1,462.90 an oz.

Recap for November 7

  • Soybean futures were higher while corn and wheat futures declined Thursday as traders positioned themselves prior to Friday’s release of monthly supply and demand and crop production data from the U.S. Department of Agriculture. Export sales above expectations and the strong possibility of an interim Washington-Beijing trade pact also supported soybeans. Weak export demand extended corn futures’ slump to a sixth session. Wheat futures declined, partly on spillover pressure from corn. November soybeans added 10c to close at $9.25 a bu. December soybean meal was up $6.70 at $305.60 a ton. December soybean oil fell 0.32c to close at 31.43c a lb. December corn was 3½c lower at $3.75¼ a bu. Chicago December wheat retreated 4¼c to close at $5.12½ a bu. Kansas City December wheat lost 3c and closed at $4.24¾ a bu. Minneapolis December wheat subtracted 4½c to close at $5.18¾ a bu.
  •  Signs of U.S.-China trade-talk progress helped boost U.S. equity markets and government bond yields on Thursday. The Dow Jones Industrial Average advanced 182.24 points to close at 27,674.80. The Standard & Poor’s 500 Index gained 8.40 points, or 0.27%, to close at 3,085.18. The Nasdaq Composite added 23.89 points, or 0.28%, to close at 8,434.52.
  • The U.S. dollar strengthened Thursday.
  • U.S. crude oil futures advanced on Thursday. The December contract was up 80c to close at $57.15 a barrel.
  • U.S. gold futures slumped Friday as the U.S. dollar grew stronger. The December contract was down $26.70 to close at $1,466.40 an oz.