Recap for January 22
- Ideas of improved export demand for U.S. wheat on expectations for slowing Black Sea region exports bolstered winter wheat futures Tuesday while spring wheat futures ticked lower. But winter wheat’s gains were pared as corn and soybean futures dropped after a report that the White House had rejected a Chinese offer of preparatory trade talks in advance of high-level negotiations next week. March soybeans declined 7½c to close at $9.09¼ a bu. March soybean meal subtracted $2.10 to close at $313 a ton. March soybean oil firmed 0.05c and closed at 29.06c a lb. Chicago March wheat was up 3½c to close at $5.21¼ a bu, Kansas City March wheat added 3¾c and closed at $5.09¾ a bu, and Minneapolis March wheat eased 2¼c to close at $5.72 a bu. March corn dropped 2¾c to close at $3.79 a bu.
- Stock markets closed lower Tuesday, their first decline in five trading sessions, after the International Monetary Fund reduced its forecast for global economic growth in 2019, causing concern among investors that some major economies around the world, including China and Europe, are weakening faster than expected. Lower closes interrupted U.S. equity markets’ recent rebounds from punishing year-end selloffs and could signal another bout of volatility is on the way. The Dow Jones Industrial Average declined 336.25 points and closed at 24,404.48. The Standard & Poor’s 500 Index lost 37.81 points to close at 2,632.90. The Nasdaq Composite Index fell 136.87 points to close at 7,020.36.
- Fresh worries that slower global economic growth will lead to lower fuel consumption paused a recent recovery for U.S. crude oil futures. The February contract fell $1.23 to close at $52.57 per barrel.
- The U.S. dollar closed lower Tuesday.
- U.S. gold futures firmed Tuesday as the dollar faltered. February gold rose 80c to close at $1,283.40 an oz.
Recap for January 18
- U.S. equity markets climbed Friday and recorded their fourth consecutive week of gains, in part on easing concerns of an economic slowdown. The Dow Jones Industrial Average jumped 336.25 points and closed at 24,706.35, after falling more than 100 points in early trading. The Standard & Poor’s 500 Index added 34.75 points to close at 2,670.71. The Nasdaq Composite Index climbed 72.76 points to close at 7,157.23. All three indexes ended the week up more than 2.5% and with gains of at least 10% since bottoming on Christmas Eve.
- Optimism about U.S.-China trade talks sent corn and soybean futures higher for a third straight session Friday. Wheat futures pared early gains but spring and hard red winter wheat still closed higher while soft red futures were flat nearby. March soybeans rose 9c to close at $9.16¾ a bu. March soybean meal added $2.90 to close at $315.10 a ton. March soybean oil firmed 0.24c and closed at 29.01c a lb. Chicago March wheat was flat at $5.17¾ a bu, with forward contracts flat or edging higher. Kansas City March wheat added 2c and closed at $5.06 a bu, though later months were mixed. Minneapolis March wheat advanced 2¼c to close at $5.74¼ a bu. March corn added 1¾c to close at $3.81¾ a bu.
- Supported by hopes for a resolution to the U.S.-China trade dispute and signs of slowing global crude production, U.S. crude oil futures rose to an eight-week high on Friday. The February contract rose $1.73 to close at $53.80 per barrel.
- Strong U.S. economic data on industrial production helped strengthen the U.S. dollar on Friday.
- U.S. gold futures declined Friday as the dollar gained strength. February gold fell $9.70 to close at $1,282.60 an oz.
Recap for January 17
- Ideas of increased export demand for U.S. wheat prompted short covering that pushed wheat futures through key technical levels and ignited a rally that saw wheat, corn and soy complex futures all close higher Thursday. Additional support for wheat prices came from concerns that harsh cold could threaten vulnerable wheat crops in parts of the U.S. Plains not protected by snow. Soybeans were buoyed by indications the United States may lift tariffs on Chinese imports ahead of talks later in the month. March soybeans rose 13¼c to close at $9.07¾ a bu. March soybean meal added $2.10 to close at $312.20 a ton. March soybean oil firmed 0.54c and closed at 28.77c a lb. Chicago March wheat rose 5¼c, closing at $5.17¾ a bu, Kansas City March wheat added 8½c and closed at $5.04 a bu and Minneapolis March wheat advanced 7c to close at $5.72 a bu. March corn added 6c to close at $3.80 a bu.
- Hopes that the United States will lift tariffs on Chinese imports and eliminate a conflict that has rattled financial markets in recent months pushed U.S. equity markets to their third straight higher close Thursday. The Dow Jones Industrial Average jumped 162.94 points and closed at 24,370.10, after falling more than 100 points in early trading. The Standard & Poor’s 500 Index added 19.86 points to close at 2,635.96, with all 11 sectors advancing, led by gains in trade-oriented sectors such as industrials and materials, with both adding 1.7% The Nasdaq Composite Index climbed 49.77 points to close at 7,084.46.
- U.S. crude oil futures closed lower on concerns over rising U.S. oil production and bulging inventories of gasoline amid sluggish demand that
- could point to a coming economic slowdown. The February contract dropped 24c to close at $52.07 per barrel.
- The U.S. dollar eked out a slight increase after a report the United States was debating lifting tariffs on China to calm markets and advance trade talks, eliminated most of its earlier gains.
- U.S. gold futures declined Thursday despite a weaker dollar. February gold fell $1.50 to close at $1,292.30 an oz.
Recap for January 16
- Tuesday’s drop to six-week lows triggered fresh demand for corn, especially among global buyers such as South Korea, and futures firmed Wednesday as a result. Wheat and soybean futures also rebounded Wednesday, but prices closed far from their highs after buying interest evaporated late in the session. March soybeans rose 1¼c to close at $8.94½ a bu. March soybean meal added 80c to close at $310.10 a ton. March soybean oil eased 0.01c and closed at 28.23c a lb. Chicago March wheat rose 1½c, closing at $5.12½ a bu. Kansas City March wheat was flat at $4.95½ a bu, though May was fractionally lower and later months edged higher. Minneapolis March wheat advanced 3c to close at $5.65 a bu. March corn added 2¾c to close at $3.74 a bu.
- Despite a bearish weekly report that showed U.S. gasoline inventories at their highest level in nearly two years amid declining demand, U.S. crude oil futures advanced Wednesday on the back of rising U.S. equity markets. The February contract added 20c to close at $52.31 per barrel.
- Investors poring over the latest batch of corporate earnings sent U.S. equity markets higher for a second consecutive session Wednesday. Though the S&P 500 and D.J.I.A. each remain about 10% below last year’s record highs, both indexes closed at their highest level in a month Wednesday and have risen more than 10% since Christmas Eve. The Dow Jones Industrial Average gained 141.57 points and closed at 24,207.16. The Standard & Poor’s 500 Index advanced 5.80 points to close at 2616.10. The Nasdaq Composite Index advanced 10.86 points to close at 7034.69.
- The U.S. dollar strengthened Wednesday.
- U.S. gold futures also firmed despite the stronger dollar. February gold rose $5.40 to close at $1,293.80 an oz.
Recap for January 15
- Worries about trade talks between Washington and Beijing sent U.S. soybean futures lower for the third time in four sessions Tuesday after comments from U.S. Senator Chuck Grassley indicated the U.S. Trade Representative saw little progress made on structural issues in trade talks between the United States and China last week. Technical selling and a firming U.S. dollar also contributed to the losses, and wheat and corn futures also declined, the latter to a six-week low. March soybeans slid 10¼c to close at $8.93¼ a bu. March soybean meal dropped $2.50 to close at $309.30 a ton. March soybean oil eased 0.16c and closed at 28.24c a lb. Chicago March wheat fell 3¼c, closing at $5.11 a bu. Kansas City March wheat dropped 3½c to close at $4.95½ a bu. Minneapolis March wheat fell 3½c to close at $5.62 a bu. March corn shed 7¼c to close at $3.71¼ a bu.
- U.S. crude oil futures ticked higher Tuesday after Chinese officials said they would step up efforts to spur economic growth amid a slowdown. The February contract added $1.60 to close at $52.11 per barrel.
- Investors excited about China’s pledge to stimulate the country’s troubled economy buoyed U.S. equity markets to higher closes Tuesday with support from rising shares of U.S. technology companies. The Dow Jones Industrial Average gained 155.75 points and closed at 24,065.59. The Standard & Poor’s 500 Index advanced 27.69 points to close at 2,610.30 with shares of tech and communications companies in the broad index gaining more than 1% each. The Nasdaq Composite Index advanced 117.92 points to close at 7,023.83.
- The U.S. dollar firmed Tuesday after the British parliament soundly rejected a proposed Brexit deal. Further support came from new data indicating Germany's economy pulled back sharply in 2018.
- U.S. gold futures edged lower as the dollar firmed. February gold fell $2.90 to close at $1,288.40 an oz.
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..