Recap for January 14

  • Lack of demand from China, the world’s top soybean importer, along with technical selling sent soybean futures to a 1½-week low Monday. Russia’s unchanged wheat export forecast and beneficial snowfall across much of the U.S. winter wheat region dragged down wheat futures, while corn futures edged higher. March soybeans slid 6¾c to close at $9.03½ a bu. March soybean meal dropped $2.80 to close at $311.80 a ton. March soybean oil eased 0.01c and closed at 28.40c a lb. Chicago March wheat fell 5¼c, closing at $5.14¼ a bu. Kansas City March wheat dropped 5½c to close at $5.09½ a bu. Minneapolis March wheat fell 4½c to close at $5.65½ a bu. March corn edged up ¼c to close at $3.78½ a bu.
  • U.S. crude oil futures were lower Monday, the February contract sliding $1.08 to $50.51 per barrel.
  • An unexpected decline in Chinese imports and exports in December weighed on U.S. equity markets and commodities Monday. Investors said they were concerned a further slowdown in the Chinese economy could hinder global growth. The Dow Jones Industrial Average shed 86.11 points and closed at 23,909.84. The Standard & Poor’s 500 Index dropped back 13.65 points to close at 2,582.61. The Nasdaq Composite Index declined 65.56 points to close at 6,905.92.
  • The U.S. dollar edged lower Monday as the Japanese yen and other haven currencies strengthened on data revealing China's exports and imports both fell in December from a year earlier. Investors viewed the data as the latest indication the world's second-largest economy is slowing during a protracted trade conflict with the United States.
  • U.S. gold futures strengthened Monday as the dollar ebbed. February gold rose $1.80 to close at $1,291.30 an oz.

Recap for January 11

  • Bargain buyers boosted wheat futures from one-week lows Friday in technical trading assisted by a weaker U.S. dollar and increasing wheat prices in competing exporting nations. Dimming south American crop prospects continued to boost U.S. corn and soybean futures, which also advanced on technical buying. Soybean and grain futures advances were underpinned by ideas trade relations between the United States and China were improving. January soybeans advanced 3¾c to close at $8.99¼ a bu. January soybean meal fell for a second day, dropping $2.20 to close at $310.40 a ton. January soybean oil gained 0.23c and closed at 28.17c a lb. Chicago March wheat rose 5¾c, closing at $5.19½ a bu. Kansas City March wheat gained 5¾c to close at $5.09½ a bu. Minneapolis March wheat added 6c to close at $5.70 a bu. March corn added 2c to close at $3.78¼ a bu.
  • U.S. crude oil futures were on a path to edge lower Friday afternoon, the February future trading around $51.69 a barrel. But production cuts by major producers, a weakened U.S. dollar and further export declines from sanctioned Iran helped prices end higher for the week.
  • U.S. equity markets faltered Friday, but the D.J.I.A. advanced for the week and posted its largest three-week gain since the period following the 2016 elections. The Dow Jones Industrial Average eased 5.97 points and closed at 23,995.95. The Standard & Poor’s 500 Index shed 0.38-point to close at 2,596.26. The Nasdaq Composite Index declined 14.59 points to close at 6,971.48.
  • The U.S. dollar was on track for a stronger close Friday.
  • U.S. gold futures were poised to close higher Friday, the February contract trading around $1,288.20 an oz.

Recap for January 10

  • U.S. soybean futures notched their steepest slide since Nov. 26 on a lack of new purchases from China following trade talks with the United States. Further pressure came from forecasts indicating hot, dry weather won’t keep competitor Brazil from harvesting a bumper crop, albeit smaller than initially forecast. As optimism for additional agricultural purchases from China decreased, corn and wheat futures fell Thursday as well. January soybeans fell 16c to close at $8.95½ a bu. January soybean meal pulled back $6.40 to close at $312.60 a ton. January soybean oil dropped 0.38c and closed at 27.94c a lb. Chicago March wheat fell 6¼c, closing at $5.13¾ a bu. Kansas City March wheat fell 6¾c to close at $5.98¾ a bu. Minneapolis March wheat fell 6½c to close at $5.64 a bu. March corn fell 5¾c to close at $3.76¼ a bu.
  • As fears of oversupply amid weaker demand abated, U.S. crude oil futures settled higher on Thursday, notching their longest winning streak in nine years. The February future added 23c to close at $52.59 a barrel.
  • U.S. equity markets advanced after Federal Reserve Chairman Jerome Powell restated the central bank’s willingness to adjust its pace of interest-rate increases if economic conditions weaken. The Dow Jones Industrial Average added 122.80 points and closed at 24,001.92. The Standard & Poor’s 500 Index advanced 11.68 points to close at 2,596.64 after falling nearly 1% earlier in the session. The Nasdaq Composite Index rose 28.99 points to close at 6,986.07.
  • The U.S. dollar strengthened Thursday.
  • U.S. gold futures declined as the dollar advanced, the February contract down $4.60 to close at $1,287.40 an oz.

Recap for January 9

  • U.S. crude oil futures neared a four-week high Wednesday and technically entered a bull market as the Saudis pushed for higher prices by trimming production. The February future advanced $2.58 to $52.36 a barrel.
  • After Beijing trade talks between the United States and China ended on an upbeat note, soybean and grain futures closed higher Wednesday. U.S. soybeans climbed for the fifth time in six sessions. Expectations of additional demand for U.S. corn and wheat bolstered those futures as well. January soybeans advanced 5¼c to close at $9.11½ a bu. January soybean meal advanced $1.40 to close at $319 a ton. January soybean oil added 0.14c and closed at 28.32c a lb. Chicago March wheat added 2¼c, closing at $5.20 a bu. Kansas City March wheat advanced ½c to close at $5.05½ a bu. Minneapolis March wheat added 3¼c to close at $5.67¼ a bu, though later months were mixed. March corn added 2c to close at $3.82 a bu.
  • Global and U.S. stock markets extended recent gains Wednesday as investors turned hopeful that progress toward resolution of the trade war was being made as U.S. and China held their third day of trade discussions. The Dow Jones Industrial Average added 91.67 points and closed at 23,879.12. The Standard & Poor’s 500 Index advanced 10.55 points to close at 2,584.96. The Nasdaq Composite Index rose 60.08 points to close at 6,957.08.
  • The U.S. dollar turned lower Wednesday.
  • U.S. gold futures were higher Wednesday, the February contract up $6.10 to close at $1,292 an oz.

Recap for January 8

  • U.S. soybean futures turned lower Tuesday for the first time in five trading days on profit-taking after Monday’s 3½-week highs. Corn futures hit three-week-highs before turning lower by the close. Winter wheat futures advanced on a potential increase in exports due to competing countries’ higher prices. Nearby spring wheat futures declined after last week gaining on Chicago and K.C. January soybeans declined 6c to close at $9.06¼ a bu. January soybean meal dipped 60c to close at $317.60 a ton. January soybean oil declined 0.08c and closed at 28.18c a lb. Chicago March wheat added 1c, closing at $5.17¾ a bu. Kansas City March wheat advanced 2c to close at $5.05 a bu. Minneapolis March wheat eased ¾c to close at $5.67¼ a bu, though future months were mixed. March corn fell 2¼c to close at $3.82¼ a bu.
  • Supply curbs from large producers and improved risk appetite helped U.S. crude oil futures turn higher Tuesday. The February future settled up $1.26 at $49.78 a barrel.
  • U.S. equity indexes advanced Tuesday on indications of progress between the United States and China on trade negotiations. The Dow Jones Industrial Average added 256.10 points and closed at 23,787.45. The Standard & Poor’s 500 Index advanced 24.72 points to close at 2,574.41. The Nasdaq Composite Index rose 73.53 points to close at 6,897.00.
  • Showing tentative signs of stabilization, the U.S. dollar strengthened Tuesday.
  • U.S. gold futures fell as the dollar climbed. The February contract lost $4 to close at $1,285.90 an oz.

Recap for January 7

  • U.S. crude oil futures advanced for the sixth consecutive session Monday after Saudi Arabia said it planned to trim crude oil exports by up to 800,000 barrels to 7.1 million barrels per day by the end of January in an effort to boost prices to $80 per barrel. The February future settled up 56c at $48.52 a barrel.
  • Soybean futures firmed for the fourth consecutive session as the resumption of U.S.-China trade talks raised hopes for an end to the trade war that brought U.S. soybean exports to China to a near standstill last fall. China bought between 180,000 and 900,000 tonnes of U.S. soybeans on Monday, the third large purchase since indications of thawing trade relations in the past month. Dry weather in Brazil that could trim expectations of record production there also provided support. Wheat futures declined, and corn futures edged lower mostly on profit taking after last week’s gains. January soybeans advanced 2¾c to close at $9.12¼ a bu. January soybean meal gained $3.10 to close at $318.20 a ton. January soybean oil declined 0.15c and closed at 28.26c a lb. Chicago March wheat eased ¼c, closing at $5.16¾ a bu. Kansas City March wheat dropped 3c to close at $5.03 a bu. Minneapolis March wheat fell 2¼c to close at $5.68 a bu. March corn eased ¾c to close at $3.82¼ a bu.
  • U.S. equity indexes continued to advance Monday on hopes of a resolution to the U.S.-China trade war as talks between the two super powers resumed. Gains in technical shares also proved a boost. The Dow Jones Industrial Average added 98.19 points and closed at 23,531.35. The Standard & Poor’s 500 Index advanced 17.75 points to close at 2,549.69. The Nasdaq Composite Index rose 84.61 points to close at 6,823.47.
  • The value of the U.S. dollar weakened Monday on indications the Federal Reserve will make fewer interest rate hikes in 2019 due to a mild rate of inflation amid slower economic growth.
  • U.S. gold futures advanced Monday on weakness in the dollar. The February contract gained $4.10 to close at $1,289.90 an oz.