Recap for January 6

  • Speculative buyers were drawn to US corn and soybean futures Wednesday by worries about dry Argentine weather. Both closed higher with the nearby corn future topping $5 a bu during the session for the first time since 2014. Wheat futures were mixed, mostly lower, pausing as traders took profits following the previous day’s six-year highs. March corn advanced 3¼¢, settling at $4.95 a bu. Chicago March wheat shed 6½¢ to close at $6.47½ a bu; most 2022 contracts were higher. Kansas City March wheat dropped 5¾¢ to close at $6.03½ a bu; later months were mixed. Minneapolis March wheat eased 1¢, closing at $6.06¼ a bu. January soybeans advanced 15¼¢, closing at $13.65¼ a bu. January soybean meal added $7.90 to close at $443.30 a ton. January soybean oil edged up 0.03¢ to close at 44.39¢ a lb.
  • US equity markets were mixed Wednesday as investors dumped big tech stocks and picked up shares of economically sensitive companies on ideas of a big government spending boost under a Democrat-controlled Senate. The Dow Jones Industrial Average advanced 437.80 points, or 1.44%, to close at a record 30,829.40. The Standard & Poor’s 500 Index added 21.28 points, or 0.57%, to close at 3,748.14. The Nasdaq Composite closed down 78.17 points, or 0.61%, at 12,740.79.
  • US crude oil prices closed higher Wednesday. The February future added 70¢ to close at $50.63 per barrel.
  • The US dollar index reversed course for a mid-week advance Wednesday.
  • US gold futures were lower Wednesday as the US dollar strengthened. The February contract was down $45.80 at $1,908.60 per oz.

Recap for January 5

  • South American supply concerns continued to boost US soybean futures, which reached fresh 6½-year highs Tuesday. Corn futures also advanced, as did wheat futures, reaching six-year highs on spillover strength, technical buying and declining crop conditions in Colorado, Montana, Illinois and a handful of other key winter wheat states. March corn jumped 8¢, settling at $4.91¾ a bu. Chicago March wheat added 12¢ to close at $6.54 a bu. Kansas City March wheat rose 9¾¢ to close at $6.09¼ a bu; though the furthest 2022 contracts declined. Minneapolis March wheat was up 8¼¢, closing at $6.07¼ a bu. January soybeans surged 33½¢, closing at $13.50 a bu. January soybean meal added $8.20 to close at $435.40 a ton. January soybean oil added 1.43¢ to close at 44.36¢ a lb.
  • US equity indexes climbed Tuesday as investors awaited the outcome of runoff elections in Georgia that will determine the political balance of the US Senate. The Dow Jones Industrial Average advanced 167.71 points, or 0.55%, to close at 30,391.60. The Standard & Poor’s 500 Index added 26.21 points, or 0.71%, to close at 3,726.86. The Nasdaq Composite closed up 120.51 points, or 0.95%, to close at 12,818.96.
  • US crude oil prices closed higher Tuesday. The February future jumped $2.31 to close at $49.93 per barrel.
  • The US dollar index continued to decline Tuesday.
  • US gold futures continued to rally Tuesday as the dollar declined. The February contract was up $7.80 at $1,954.40 per oz.

Recap for January 4

  • US soybean futures were moderately higher to open 2021, paring some gains after soaring to fresh 6½-year highs with support from speculative buying and concerns about south American supplies. Fund-driven buying, South American crop uncertainty and brisk export demand pushed nearly all corn futures to life-of-contract highs before paring gains on profit-taking and farmer selling. Wheat futures were mixed, having pared gains after nearing six-year peaks on fund buying and spillover strength from corn and soybeans. March corn eased ¼¢, settling at $4.83¾ a bu; later months were mixed in a narrow range. Chicago March wheat added 1½¢ to close at $6.42 a bu. Kansas City March wheat shed 4¢ to close at $5.99½ a bu; later months were mixed. Minneapolis March wheat was down ¼¢, closing at $5.99 a bu; later months were mixed in a narrow range. January soybeans were up 1¼¢, closing at $13.16½ a bu. January soybean meal declined $7.20 to close at $427.20 a ton, though later months were mixed. January soybean oil fell 0.4¢ to close at 42.93¢ a lb.
  • Investors envisioning a long, uneven recovery from the economic fallout from the coronavirus pandemic sent stocks lower to open the year. The Dow Jones Industrial Average declined 382.59 points, or 1.25%, to close at 30,223.89. The Standard & Poor’s 500 Index dropped 55.42 points, or 1.48%, to close at 3,700.65. The Nasdaq Composite closed down 189.84 points, or 1.47%, to close at 12,698.45.
  • US crude oil prices opened the year with a decline. The February future was 90¢ lower at $47.62 per barrel.
  • The US dollar index reversed course from New Year’s Eve and closed lower on the first trading day of 2021.
  • US gold futures jumped significantly higher Monday as the dollar index declined. The February contract was up $51.50 at $1,946.60 per oz.

Recap for December 31

  • Curbed Argentinian exports concurrent with dry weather there and in Brazil pushed US corn futures to 6½-year highs Thursday as the commodity closed the book in its best year in a decade. Soybean futures also hit 6½-year highs with support from tightening global supplies and posted their best yearly gain since 2007. Wheat futures were mostly firm in the last trading session of the year and ended with a yearly gain for the fourth straight year. March corn added 9½¢, settling at $4.84 a bu. Chicago March wheat eased ¼¢ to close at $6.40½ a bu, though later months were mixed in a narrow range. Kansas City March wheat added 2¼¢ to close at $6.03½ a bu. Minneapolis March wheat was up 3¢, closing at $5.99¼ a bu. January soybeans were up 11½¢, closing at $13.15¼ a bu. January soybean meal was up $2 at $434.40 a ton, though later months were mixed. January soybean oil added 0.66¢ to close at 43.33¢ a lb.
  • US equity markets closed higher Thursday in the final day of a tumultuous year in stock trading. Despite quiet trading, the DJIA recorded its 14th record close of 2020. The S&P 500 notched its 33rd record close of the year, while the Nasdaq came in 10 points short of its 56th record close for 2020. The Dow Jones Industrial Average added 196.92 points, or 0.65%, to close at 30,606.48. The Standard & Poor’s 500 Index added 24.03 points, or 0.64%, to close at 3,756.07. The Nasdaq Composite advanced 18.28 points, or 0.14%, to close at 12,888.28.
  • US crude oil prices erased early losses in the final minutes of the final session of 2020 and closed higher, recording its eighth weekly increase in the past nine weeks. The February future was 12¢ higher at $48.52 per barrel.
  • After four losses in five sessions, the US dollar index ended the trading year with a higher close Thursday.
  • US gold futures continued to strengthen Thursday. The February contract was up $1.70 at $1,895.10 per oz.

Recap for December 30

  • Fund buying, technical trading and position squaring as the new year approached sent wheat futures to their highest levels in six years. Corn futures advanced for a 13th consecutive session Wednesday, notching a 6½-year high. Support came from dry conditions threatening crops in the key competing countries of Brazil and Argentina, the latter suspending corn exports until March 1 to ensure adequate domestic supplies. Soybean futures settled above the key $13-a-bu mark at fresh 6½-year highs even as an Argentine labor strike that delayed export shipments was settled. March corn jumped 8½¢, settling at $4.74½ a bu. Chicago March wheat surged 22¼¢ to close at $6.40¾ a bu. Kansas City March wheat added 16¼¢ to close at $6.01¼ a bu. Minneapolis March wheat was up 15¾¢, closing at $5.96¼ a bu. January soybeans were up 8¼¢, closing at $13.03¾ a bu. January soybean meal was up $5.40 at $432.40 a ton. January soybean oil added 0.19¢ to close at 42.67¢ a lb.
  • US equity markets closed higher Wednesday as investors bet on a speedy recovery for the economy. The DJIA, with a lift from Disney, notched its 13th record close of the year. Together, the three major indexes have recorded 100 record closes in 2020, the most since 2017. The Dow Jones Industrial Average added 73.89 points, or 0.24%, to close at 30,409.56. The Standard & Poor’s 500 Index added 5 points, or 0.13%, to close at 3,732.04. The Nasdaq Composite advanced 19.78 points, or 0.15%, to close at 12,870.
  • US crude oil prices continued their upward trajectory Wednesday. Support came from an Energy Information Administration report that indicated a 6.1-million-barrel decline in US oil stockpiles and US oil production that was steady for a third week. The February future was 40¢ higher at $48.50 per barrel.
  • The US dollar index weakened again on Wednesday, its fourth loss in five sessions.
  • US gold futures continued to strengthen Wednesday as the value of the dollar receded. The February contract was up $10.50 at $1,893.40 per oz.