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.

Recap for September 12

  • News of the first Chinese imports of U.S. soybeans in a month pushed soybean futures sharply higher Thursday with support from a lower soybean crop estimate from the U.S. Department of Agriculture. Wheat and corn futures followed soybeans higher despite U.S.D.A. corn production and yield estimates above trade expectations. November soybeans shot up 29c to close at $8.95½ a bu. October soybean meal advanced $6.60 to close at $297.60 a ton. October soybean oil added 0.36c to close at 29.01c a lb. Chicago December wheat rose 6¼c to close at $4.83¾ a bu. Kansas City December wheat was up 5c to close at $4.03½ a bu. Minneapolis December also added 5c to close at $5.07¼ a bu. December corn advanced 7¼c to $3.67¼ a bu.
  • A sweeping stimulus package unveiled by the European Central Bank and signs of thawing U.S.-China trade tension supported U.S. equity markets on Thursday. The Dow Jones Industrial Average added 45.41 points, or 0.17%, to close at 27,182.45. The Standard & Poor’s 500 Index added 8.64, or 0.29%, to close at 3,009.57. The Nasdaq Composite added 24.79 points, or 0.30%, to close at 8,194.47.
  • U.S. crude oil futures slid for a third consecutive session Thursday after delegates at an Organization of the Petroleum Exporting Countries technical meeting declined to discuss further production cuts. The October contract was down 66c to close at $55.09 a barrel.
  • The value of the U.S. dollar was weaker Thursday.
  • U.S. gold futures advanced as the U.S. dollar declined. The October contract rose $4.20 to close at $1,500.80 an oz.

Recap for September 11

  • Soybean futures turned lower Wednesday on ideal Midwest crop weather forecasts and China’s failure to include soybeans on its list of imports exempt from tariffs. End-of-summer heat wave was viewed as beneficial to the U.S. corn crop, and corn futures declined. In sympathy with corn and soybeans, wheat futures slipped from one-month highs reached Tuesday. Traders largely were bidding time until the 11:00 a.m. Central time release of the U.S. Department of Agriculture’s September crop and supply-and-demand reports on Sept. 12. December corn fell 1½c to $3.60 a bu. November soybeans were down 5½c at $8.66½ a bu. October soybean meal declined $3.30 to close at $291 a ton. October soybean oil advanced 0.30c to close at 28.65c a lb. Chicago December wheat fell 4¾c to close at $4.77½ a bu. Kansas City December wheat lost 5¼c to close at $3.98½ a bu. Minneapolis December dropped 1½c to close at $5.02¼ a bu.
  • U.S. equity markets advanced Wednesday with support from shares of technology companies, especially from Apple. The Dow Jones Industrial Average added 227.61 points, or 0.85%, to close at 27,137.04, notching a sixth consecutive session of gains, the index’s longest streak of gains since June. The Standard & Poor’s 500 Index added 21.54, or 0.72%, to close at 3,000.93. The Nasdaq Composite added 85.52 points, or 1.06%, to close at 8,169.68.
  • U.S. crude oil futures declined Wednesday despite indications from the Energy Information Administration that U.S. crude inventories fell sharply last week as refinery activity unexpectedly ramped up. The October contract was down $1.65 to close at $55.75 a barrel.
  • The value of the U.S. dollar was higher Wednesday.
  • U.S. gold futures advanced Wednesday after President Trump tweeted that the Fed should cut rates to “ZERO, or less.” The October contract added $3.90 to close at $1,496.60 an oz.

Recap for September 10

  • The U.S. Department of Agriculture’s unexpectedly lower condition rating for the U.S. corn crop helped corn futures rebound from a four-month low Tuesday. The U.S.D.A. said soybean conditions were virtually unchanged, but soybean futures followed corn higher amid concerns about lower yields from a U.S. crop behind normal pace developmentally. Yield concerns for Australian and Argentinian wheat underpinned U.S. wheat futures. December corn was up 7¼c at $3.61½ a bu. November soybeans were up 14¼ at $8.72 a bu. October soybean meal added $3.90 to close at $294.30 a ton. October soybean oil advanced 0.09c to close at 28.35c a lb. Chicago December wheat advanced 7¾c to close at $4.82¼ a bu. Kansas City December wheat gained 5¾c to close at $4.03¾ a bu. Minneapolis December added 7c to close at $5.03¾ a bu.
  • U.S. equity markets were mixed Tuesday as investors turned away from high-growth tech stocks and resumed focus on recently volatile sectors such as energy. The Dow Jones Industrial Average added 73.92 points, or 0.28%, to close at 26,909.43, leaving the index 1.6% below July’s all-time high. The Standard & Poor’s 500 Index edged up 0.96 of a point, or 0.03%, to close at 2,979.39. The Nasdaq Composite declined 3.28 points, or 0.04%, to close at 8,084.16.
  • U.S. crude oil futures dipped Tuesday despite expectations that a Wednesday report from the Energy Department will show a decline in U.S. crude oil stocks. The October contract was down 45c to close at $57.40 a barrel.
  • The value of the U.S. dollar was higher Tuesday.
  • U.S. gold futures declined Tuesday, the October contract losing $11.80 to close at $1,492.70 an oz.

Recap for September 9

  • Corn futures hit contract lows Monday on Corn Belt forecasts for warm temperatures with a few showers before technical trading pared the losses by the close. Soybeans touched 3½-month lows on the forecast, which may boost yield prospects, but pared losses to close unchanged. Wheat futures rebounded from early-session lows on technical buying and concern over Southern Hemisphere wheat crops. November soybeans were unchanged at $8.57¾ a bu. October soybean meal added $1.10 to close at $290.40 a ton. October soybean oil fell 0.20c to close at 28.26c a lb. Chicago December wheat advanced 10¾c to close at $4.74½ a bu. Kansas City December wheat gained 4¾c to close at $3.98 a bu. Minneapolis December added 2½c to close at $4.96¾ a bu. December corn was down 1¼c at $3.54¼  a bu.
  • U.S. equity markets were little changed Monday as there was little new information to drive share prices. Investors were focused on meetings later this month in which the Federal Reserve is expected to cut interest rates. The Dow Jones Industrial Average added 38.05 points, or 0.14%, to close at 26,835.51. The Standard & Poor’s 500 Index eased 0.28 point, or 0.01%, to close at 2,978.43. The Nasdaq Composite declined 15.64 points, or 0.19%, to close at 8,087.44.
  • U.S. crude oil futures advanced. The October contract was up $1.33 to close at $57.85 a barrel.
  • The value of the U.S. dollar weakened Monday.
  • U.S. gold futures declined, the October contract losing $4.50 to close at $1,504.50 an oz.