February 22 recap

  • Updates to crop status following very cold temperatures supported winter wheat futures, dragged down by a 14, or 2.2%, gain in the red winter contract tender of May. Cold weather issues in competing Black Sea countries have also been auspicious, as has the global focus on replacing Russian supplies that will be kept in that country to avoid a grain export tax. The strength of wheat futures and technical buying supported corn futures. Harvest delays in South America have encouraged the increase in soybean futures. Hikes in crude oil prices boosted soybean oil, while nearby soybean meal futures plunged after falling to a key technical support point in their 50-day moving average. March But rose 8 and closed at $ 5.51 per unit. Chicago March wheat added 13, closing at $ 6.64 a bushel. Kansas City March wheat added 12, closing at $ 6.44 a bushel. Minneapolis March wheat rose 9 to close at $ 6.37 a bushel. March soy advanced 6, closing at $ 13.83 per unit. March soy dish was down $ 1.20 to close at $ 423.10 per tonne; July and futures rose slightly. March soybean oil was up 0.35 to 47.90 per pound.
  • The US equity markets saw mixed close to open the week. The DJIA gained, but rising bond yields and increasing investor penchant for stocks that represent further economic rebound weighed on tech stocks like Apple and Microsoft and pushed the S&P 500 and Nasdaq down sharply. lower. The Dow Jones Industrial Average added 27.37 points, or 0.09%, to close at 31,521.69. The Standard & Poors 500 Index removed 30.21 points, or 0.77%, to close at 3876.50. The Nasdaq composite fell 341.41 points, or 2.46%, to close at 13,533.05.
  • American crude oil prices advanced on Monday. The contract expiring in March was up $ 2.25 to $ 61.49 a barrel, and the April contract was up $ 2.44 to $ 61.49.
  • The US dollar index closed Monday lower for a third consecutive session.
  • American Gold futures continued to advance alongside the decline in the dollar. The February contract was up $ 30.90 to $ 1,806.70 an ounce.

February 19 recap

  • Soybean futures rose as the USDA said a record U.S. soybean crop for 2021 would be mainly absorbed by strong demand, while USDA forecasts for a record corn crop and a Robust demand left corn futures mixed. Wheat futures fell to close the week on profit taking, but were higher for the week due to crop damage issues. March But fell 7 to close at $ 5.42 a bushel; The month of December increased slightly. Chicago March wheat fell 11 to close at $ 6.50 a bushel. Kansas City March wheat was down 5 to close at $ 6.31 a bushel. Minneapolis March wheat deducted 3, closing at $ 6.28 a bushel. March soy advanced 2, closing at $ 13.77 a bushel. March soy dish was down $ 1.60 to close at $ 424.30 per tonne; September futures rose slightly. March soybean oil was up 0.64 to 47.55 per pound.
  • US equity markets were mixed to end the week. The Nasdaq eased as the DJIA and the S&P 500 reduced early gains to close slightly higher. Support came from new data showing private sector business activity remained strong and sales of previously owned homes increased in January. The Dow Jones Industrial Average edged up 0.98 points to close at 31,494.32. The Standard & Poors 500 Index fell 7.26 points, or 0.19%, to close at 3,906.71. The Nasdaq composite fell 9.11 points, or 0.07%, to close at 13,874.46.
  • American crude oil prices fell on Friday, with the March contract down $ 1.28 to $ 59.24 a barrel.
  • The US dollar index closed lower for a second day on Friday.
  • American Gold futures rose as the dollar fell. The February contract was up $ 2.40 to $ 1,775.80 an ounce.

February 18 recap

  • Wheat futures advanced on Thursday, fearing that this week’s cold snap had damaged dormant winter wheat crops. Rising world wheat prices also provided support. Corn futures retreated after USDA projected an increase in U.S. plantings in 2021 ahead of a more detailed supply and demand outlook expected on Friday. Soybean futures mostly fell after the USDA indexed 2021 seedlings above trade expectations. March But fell 2 and closed at $ 5.50 a unit. Chicago March wheat jumped 18 to close at $ 6.62 a bushel. Kansas City March wheat added 12, closing at $ 6.36 a bushel. Minneapolis March wheat added 8, closing at $ 6.31 per unit. March soy fell 8, closing at $ 13.75 per unit. March soy dish was down $ 5.80 to close at $ 425.90 a tonne. March soybean oil was up 0.14 to 46.91 per pound, although the most distant contracts in 2022 and 2023 fell.
  • The drop in shares of communications and technology companies weighed on US stock indices on Thursday. Further pressure came from a report from the Department of Labor indicating that claims for unemployment benefits increased in the first half of February. The Dow Jones Industrial Average fell 119.68 points, or 0.38%, to close at 31,493.34. The Standard & Poors 500 Index fell 17.36 points, or 0.44%, to close at 3,913.97. The Nasdaq composite fell 100.14 points, or 0.72%, to close at 13,865.36.
  • American crude oil prices fell on Thursday, the March contract was down from $ 62 to $ 60.52 per barrel.
  • The US dollar the index closed lower Thursday for the first time in seven sessions.
  • American Gold futures rose as the dollar fell. The February contract was up $ 2.30 to $ 1,773.40 an ounce.

February 17 recap

  • Wheat futures fell on Wednesday amid profit taking and as fears of cold damage eased with temperatures expected to moderate over the next two weeks. Corn futures edged higher in volatile trade as the market waited for direction after multi-year highs reached last week. Soybean futures have been closely mixed as traders waited for expected directional signals from the annual USDA Agricultural Outlook Forum starting on Thursday. March But added and closed at $ 5.53 per unit. Chicago March wheat fell on the 13th, closing at $ 6.44 a bushel. Kansas City March wheat fell 13 to close at $ 6.37 a bushel. Minneapolis March wheat fell 8 to close at $ 6.23 per unit. March soy eased 1, closing at $ 13.83 a bushel, although subsequent months have been mixed. March soy dish was up $ 3.30 to close at $ 428.40 per tonne. March soybean oil was down from 0.5 to 46.77 per pound.
  • US equity markets have been mixed, with recent equity recoveries showing signs of slowing. The DJIA closed higher, but the S&P 500 and Nasdaq closed lower, the latter being dragged down by Apple and Netflix. The Dow Jones Industrial Average added 90.27 points, or 0.29%, to close at 31,613.02. The Standard & Poors 500 Index dropped 1.26 points, or 0.03%, to close at 3,931.33. The Nasdaq composite fell 82 points, or 0.58%, to close at 13,965.49.
  • American crude oil Prices were higher Wednesday on analysts’ expectations that US crude oil inventories will experience declines from the previous week in data expected Thursday by the US Department of the Energy Information Administration. Prices were partly supported by weather-constrained US production, particularly in Texas. The March contract was up $ 1.09 to $ 61.14 a barrel.
  • The US dollar the index closed higher on Tuesday for a sixth consecutive day.
  • American Gold futures contracts continued to decline as the dollar rose. The February contract was down $ 26.10 to $ 1,771.10 an ounce.

February 16 recap

  • Wheat futures jumped on Tuesday over concerns that freezing temperatures could hurt dormant winter wheat crops. The strength of wheat spilled over into corn futures, and soybeans were higher on bullish US data on crushing. March But added 13 and closed at $ 5.52 per unit. Chicago March wheat added 20 to close at $ 6.57 a bushel. Kansas City March wheat added 20, closing at $ 6.37 a bushel. Minneapolis March wheat added 15, closing at $ 6.31 per unit. March soy added 12, closing at $ 13.84 per unit. March soy dish was up $ 1.20 to close at $ 428.40 per tonne. March soybean oil was up 1.23 to 47.27 per pound.
  • US stock markets were mixed on Tuesday. On Friday, the S&P 500 and the Nasdaq broke their records. The DJIA, buoyed by the hope of further revival and successful vaccine distribution, set an eighth record at the end of the year. The Dow Jones Industrial Average added 64.35 points, or 0.20%, to close at 31,522.75. The Standard & Poors 500 Index dropped 2.24 points, or 0.06%, to close at 3,932.59. The Nasdaq composite fell 47.97 points, or 0.34%, to close at 14,047.50.
  • American crude oil prices were higher on Tuesday, the March contract was up from $ 58 to $ 60.05 a barrel.
  • The US dollar the index closed higher on Tuesday for the fifth day in a row.
  • American Gold futures contracts declined as the dollar rose. The February contract was down $ 24.40 to $ 1,797.20 an ounce.