Recap for December 10

  • Hopes that the United States and China will continue to progress toward an interim trade deal pushed U.S. soybean futures higher on Tuesday for a sixth consecutive session. Approval of a revamped U.S.-Mexico-Canada trade deal supported corn futures. Wheat futures received a boost from U.S.D.A. forecasts of lower domestic wheat supplies. December corn was 2½c lower at $3.63¼ a bu, but all other months were higher. Chicago January wheat was up 1c at $5.23¾ a bu. Kansas City January wheat added 5¼c to close at $4.31¼ a bu. Minneapolis January wheat was up 4¾c to close at $5.18 a bu. January soybeans advanced 4c to close at $9.10¼ a bu. January soybean meal advanced 20c to close at $296.90 a ton. January soybean oil added 0.11c to close at 31.47c a lb.
  • U.S. equity markets initially climbed on ideas of delayed tariffs amid ongoing U.S.-China trade negotiations. Gains were erased with the announcement of two articles of impeachment against U.S. President Donald Trump, but markets drifted off their lows upon the signing of the revamped U.S.-Mexico-Canada agreement. The Dow Jones Industrial Average dropped 27.88 points, or 0.1%, to close at 27,881.72. The Standard & Poor’s 500 Index dipped 3.44 points, or 0.11%, to close at 3,132.52. The Nasdaq Composite shed 5.64 points, or 0.07%, to close at 8,616.18.
  • U.S. crude oil futures advanced Tuesday. The January future was up 22c to $59.24 per barrel.
  • The value of the U.S. dollar eased Tuesday.
  • U.S. gold futures edged higher Tuesday. The December future was up $3.30 to $1,462.60 an oz.

Recap for December 9

  • Expectations of further Chinese buying boosted soybean futures to their highest levels in two weeks. Wheat and corn futures were little changed as the market waited to get its hands on updated supply-and-demand numbers coming Tuesday morning from the U.S. Department of Agriculture. December corn was ¾c lower at $3.65¾ a bu. Chicago December wheat was down ½c at $5.32 a bu. Kansas City December wheat fell 3½c to close at $4.11½ a bu. Minneapolis December wheat was unchanged at $4.97 a bu, though later months were narrowly higher. January soybeans advanced 7¾c to close at $8.97¾ a bu. January soybean meal declined 70c to close at $296.70 a ton. January soybean oil added 0.35c to close at 31.36c a lb.
  • U.S. equity markets weakened Monday, a day after a report from China’s General Administration of Customs showed China’s exports unexpectedly dropped 1.1% in November from a year earlier, while shipments to the United States fell 23%. The lower numbers highlighted the impact of the trade war between the world’s two largest economies. The Dow Jones Industrial Average fell 105.46 points, or 0.38%, to close at 27,909.60. The Standard & Poor’s 500 Index subtracted 9.95 points, or 0.32%, to close at 3,135.96. The Nasdaq Composite shed 34.70 points, or 0.4%, to close at 8,621.83.
  • U.S. crude oil futures eased Monday. The January future was down 18c to $59.02 per barrel.
  • The value of the U.S. dollar was lower Monday.
  • U.S. gold futures were narrowly mixed. The December future was up 20c to $1,459.30 an oz, though forward months were mostly 20c lower.

Recap for December 6

  • China’s announcement it would waive tariffs for some American farm products boosted optimism for a potential trade agreement and soybean futures closed higher Friday. Hard winter wheat futures declined on ample global supplies. Spring wheat futures eased while soft red winter mostly edged higher. Corn futures were narrowly mixed. December corn was 1c higher at $3.66½ a bu, though later months were mixed. Chicago December wheat was up ½c at $5.32½ a bu, and later months were mixed. Kansas City December wheat fell 5¼c to close at $4.15 a bu. Minneapolis December wheat declined 1c to $4.97 a bu. January soybeans advanced 5¼c to close at $8.89½ a bu. January soybean meal declined $2.10 to close at $297.40 a ton. January soybean oil added 0.72c to close at 31.01c a lb.
  • U.S. equity markets closed sharply higher Friday on signs the U.S. economy is withstanding a global slowdown. The Labor Department’s jobs report indicated employers added 266,000 jobs in November and unemployment matched a 50-year low of 3.5%. The Dow Jones Industrial Average advanced 337.27 points, or 1.22%, to close at 28,015.06. The Standard & Poor’s 500 Index added 28.48 points, or 0.91%, to close at 3,145.91. The Nasdaq Composite added 85.83 points, or 1%, to close at 8,656.53.
  • U.S. crude oil futures advanced on Friday. The January future was up 77c to $59.20 per barrel.
  • The value of the U.S. dollar closed higher Friday.
  • U.S. gold futures declined as the dollar advanced. The December future was down $17.80 to $1,459.10 an oz.

Recap for December 5

  • Strength in soybean meal futures from financial difficulties at an Argentine soy crusher carried over to soybean futures for modest gains on Thursday, with additional support from signs of a pickup in export demand. Meanwhile, weak export demand pushed corn and wheat futures lower. December corn was 3¼c lower at $3.65½ a bu. Chicago December wheat was down 3c at $5.32 a bu. Kansas City December wheat fell 5c to close at $4.20¼ a bu. Minneapolis December wheat advanced 1¾c to $4.98 a bu, though all forward months declined. January soybeans advanced 6¼c to close at $8.84¼ a bu. January soybean meal advanced $4.80 to close at $301.50 a ton. January soybean oil added 0.03c to close at 30.50c a lb.
  • U.S. equity markets closed slightly higher in subdued trading ahead of a jobs report due Friday. Major indexes were still lower for the week but maintained double-digit gains for the year. The Dow Jones Industrial Average advanced 28.01 points, or 0.1%, to close at 27,677.79. The Standard & Poor’s 500 Index added 4.67 points, or 0.15%, to close at 3,117.43. The Nasdaq Composite added 4.03 points, or 0.05%, to close at 8,570.70.
  • U.S. crude oil futures were little changed on Thursday as an OPEC meeting ran beyond its scheduled end time. The January future was unchanged at $58.43 per barrel.
  • The value of the U.S. dollar continued to decline Thursday.
  • U.S. gold futures advanced as the dollar slid. The December future was up $2.90 to $1,476.90 an oz.

Recap for December 4

  • U.S. crude oil futures advanced Wednesday to their highest levels in two months. A day earlier, Saudi Arabia said it intends to push for OPEC and its partners to extend restrictions on oil output through mid-2020. The cartel is set to meet at week’s end in Vienna to discuss the matter. The January future was up $2.33 at $58.43 per barrel.
  • Renewed global trade optimism and bargain buying boosted U.S. soy complex futures Wednesday. Corn futures were ahead early in the session but gave up gains on technical selling. Wheat futures posted small gains mostly on technical trading amid limited market news after mostly declining early in the week. December corn was 3¼c lower at $3.68¾ a bu. Chicago December wheat was up 4½c to close at $5.35 a bu. Kansas City December wheat added 2¾c to close at $4.25¼ a bu. Minneapolis December wheat advanced 2¼c to close at $4.96¼ a bu. January soybeans advanced 7c to close at $8.78 a bu. January soybean meal advanced $2 to close at $296.70 a ton. January soybean oil added 0.28c to close at 30.47c a lb.
  •  U.S. equity markets reversed course and closed higher Wednesday as investors grew optimistic a phase one of a U.S.-China trade deal would be inked by Dec. 15 when American tariffs are set to rise. Gains were limited by signs of an economic slowdown, namely a report showing the U.S. private sector added 67,000 jobs in November, far below analysts’ forecasts for a gain of 156,000. The Dow Jones Industrial Average jumped 146.97 points, or 0.53%, to close at 27,649.78 a day after notching its biggest
  • single-day pullback since early October. The Standard & Poor’s 500 Index added 19.56 points, or 0.63%, to close at 3,112.76. The Nasdaq Composite advanced 46.03 points, or 0.54%, to close at 8,566.67.
  •  The value of the U.S. dollar eased Wednesday.
  • U.S. gold futures slid despite a weaker dollar. The December future was down $4.20 to $1,474 an oz.