Progressing harvest pulls wheat futures to four-month lows
Recap for November 17
- An announcement from the United Nations indicating the Black Sea grain export hall settlement between Russia and Ukraine had been prolonged 120 days weighed on wheat futures Thursday, and a few contracts dropped to 2½-month lows. China’s COVID coverage struggles and concern about demand for soybeans weighed on US soybean futures regardless of sturdy weekly US export gross sales knowledge. Corn futures had been in a position to pull out a small win regardless of the Black Sea announcement with help from sturdy weekly export gross sales knowledge. December corn added 2¼¢ to shut at $6.67½ a bu; later months had been blended. Chicago December wheat fell 10¾¢ to shut at $8.06¾ a bu. Kansas Metropolis December wheat misplaced 17½¢ to shut at $9.38 a bu. Minneapolis December wheat was down 11¾¢ to shut at $9.53¾. January soybeans dropped 12¼¢ to shut at $14.17 a bu. December soybean meal dropped 90ٕ¢ to shut at $405.70 per ton. December soybean oil dropped 1.95¢ to settle at 72.13¢ a lb.
- Concepts that the Federal Reserve would possibly quickly ease its aggressive strikes on rates of interest waned Thursday after the St. Louis Fed president mentioned charges should rise greater to carry inflation again to the Fed’s goal. US fairness markets declined however reduce some losses by closing bell. The Dow Jones Industrial Common eased 7.51 factors, or lower than 0.1%, to 33,546.32. The Customary & Poor’s 500 Index misplaced 12.23 factors, or 0.3%, to three,946.56. The Nasdaq Composite dropped 38.70 factors, or 0.3%, to 11,144.96.
- US crude oil costs moved decrease for a second day Thursday, the December future down $3.95 to $81.64 per barrel.
- The US greenback index strengthened Thursday after two days of shifting decrease.
- US gold futures continued decrease because the greenback turned greater. The December future was down $12.80 to $1,763 per oz.
Recap for November 16
- Soybean oil futures’ retreat from the prior week’s five-month highs drove soy complicated futures decrease Wednesday. Concepts had been soyoil costs had been “overdone to the upside,” as one analyst mentioned, thus was due for a retreat regardless of little altering basically. Soybean futures adopted soyoil decrease. Wheat and corn additionally dipped as merchants monitored information in Japanese Europe, the place it appeared much less probably the Russia-Ukraine warfare would develop to incorporate Poland. On the identical time, there was cautious optimism for an extension of the Black Sea grain hall deal. Extra stress on corn costs got here from a larger-than-expected dip in every day manufacturing and shares of ethanol. December corn dropped 1½¢ to shut at $6.65¼ a bu; later months had been blended. Chicago December wheat fell 10¾¢ to shut at $8.17½ a bu. Kansas Metropolis December wheat misplaced 7½¢ to shut at $9.55½ a bu. Minneapolis December wheat was down 8½¢ to shut at $9.65½ a bu. January soybeans dropped 28¢ to shut at $14.29¼ a bu. December soybean meal deleted $3.30 to shut at $406.60 per ton; furthest deferred months superior. December soybean oil dropped 2.90¢ to settle at 74.08¢ a lb.
- US fairness markets pulled decrease Wednesday after a Commerce Division report indicating retail gross sales rose a seasonally adjusted 1.3% in October — in contrast with September, once they had been unchanged — saved traders targeted on the velocity of the Federal Reserve’s rate of interest will increase. The Dow Jones Industrial Common dipped 39.09 factors, or 0.1%, closing the day at 33,553.83. The Customary & Poor’s 500 Index dropped 32.94 factors, or 0.8%, to three,958.79. The Nasdaq Composite dropped 174.75 factors, or 1.5%, to 11,183.66.
- US crude oil costs see-sawed again to the low facet Wednesday, the December future down $1.33 to $85.59 per barrel.
- The US greenback index’s weaker streak continued Wednesday.
- US gold futures dipped regardless of the greenback’s continued downturn. The December future was down $1 to $1,775.80 per oz.
Recap for November 15
- Late-Tuesday stories of Russian missiles hanging Poland close to the Ukrainian border stirred issues about Black Sea grain potential, and helped wheat, corn and soybean futures greater. December corn added 9½¢ to shut at $6.66¾ a bu. Chicago December wheat was up 9¾¢ to shut at $8.28¼ a bu. Kansas Metropolis December wheat gained 6¾¢ to shut at $9.63 a bu. Minneapolis December wheat was up 11¢ to shut at $9.74 a bu. November soybeans jumped 16¾¢ to shut at $14.57¼ a bu. December soybean meal edged up $3.90 to shut at $409.90 per ton. December soybean oil added 0.70¢ to settle at 76.98¢ a lb.
- US fairness markets pulled greater Tuesday after a Labor Division report indicated the Producer Value Index superior 8% in October in contrast with the identical month a 12 months in the past. Although nonetheless a speedy rise, the tempo marked an easing from September’s revised 8.4% enhance and was down sharply from the 11.7% enhance in March, the very best since information started in 2010. The Producer Value Index is seen as a basic reflection of provide circumstances within the economic system. The Dow Jones Industrial Common pulled forward 56.22 factors, or 0.2%, to 33,592.92. The Customary & Poor’s 500 Index added 34.48 factors, or 0.9%, to three,991.73. The Nasdaq Composite jumped 162.19 factors, or 1.4%, to 11,358.41.
- US crude oil costs reversed for a excessive facet transfer Tuesday, the December future up $1.05 to $86.92 per barrel.
- The US greenback index weakened Tuesday for the sixth time in eight buying and selling days.
- US gold futures had been blended, the December future was down 10¢ to $1,776.80 per oz, although all ahead contracts strengthened.
Recap for November 14
- Crude oil costs dipped and the greenback strengthened Monday, pulling US corn and soybean futures decrease. Costs on each crops additionally suffered from unsure demand for US provides. Amid ongoing Black Sea grain hall discussions, indicators of fine world wheat demand pulled Chicago, Kansas Metropolis and Minneapolis wheat futures greater. December corn eased ¾¢ to shut at $6.57¼ a bu. Chicago December wheat was up 4¾¢ to shut at $8.18½ a bu. Kansas Metropolis December wheat jumped up 12¾¢ to shut at $9.56¼ a bu. Minneapolis December wheat was up 17¼¢ to shut at $9.63 a bu. November soybeans fell 13¾¢ to shut at $14.41¾ a bu. December soybean meal dropped $1.40 to shut at $406 per ton; later months had been blended with July 2023 and past greater. December soybean oil shed 0.69¢ to settle at 76.28¢ a lb.
- US fairness markets pulled again from the sturdy rallies that closed the earlier week. Pressuring shares had been weekend feedback from a Federal Reserve governor that coverage makers “nonetheless had a methods to go” and wish to see extra knowledge factors indicating value pressures had been not broadening earlier than easing again rate of interest hikes. The Dow Jones Industrial Common fell 211.16 factors, or 0.63%, to 33,536.70. The Customary & Poor’s 500 Index dropped 35.68 factors, or 0.89%, to three,957.25, with solely one of many index’s 11 sectors, well being care, advancing and the actual property, client discretionary and utilities teams posting the sharpest declines. The Nasdaq Composite declined 127.11 factors, or 1.12%, to 11,196.22.
- US crude oil costs downshifted Monday on the information of surging coronavirus circumstances in China, which nixed hopes for a speedy resurgence of the economic system of the world’s greatest crude oil importer. The December future was down $3.09 to $85.87 per barrel.
- The US greenback index reversed course and closed greater Monday for less than the second time in seven periods.
- US gold futures continued greater even because the greenback moved greater. The December future was up $7.50 to $1,776.90 per oz.
Recap for November 11
- Energy in different commodities and equities pulled wheat, corn and soy complicated futures greater on Friday. Soybeans bought a lift from concepts China’s slight easing of COVID protocols might spur financial exercise and enhance imports. Crude oil rally helped help soybeans and corn, wheat acquired a lift from discount shopping for and all futures had been helped by a dip within the worth of the US greenback. December corn added 4¾¢ to shut at $6.58 a bu. Chicago December wheat was up 10¼¢ to shut at $8.13¾ a bu. Kansas Metropolis December wheat ascended 18¼¢ to shut at $9.43½ a bu. Minneapolis December wheat was up 14¼¢ to shut at $9.45¾ a bu. November soybeans added 25¢ to shut at $14.55½ a bu. December soybean meal superior $3.30 to shut at $407.40 per ton. December soybean oil added 0.88¢ to settle at 76.97¢ a lb.
- Information a day earlier indicating inflation was slowing continued to help equities on Friday. The sturdy rally on the finish of the week resulted in weekly good points of 5.9% for the S&P 500, 8.1% for the Nasdaq and 4.1% for the DJIA. The Dow Jones Industrial Common added 32.49 factors, or 0.1%, to 33,747.86. The Customary & Poor’s 500 Index added 36.56 factors, or 0.9%, to three,992.93. The Nasdaq Composite added 209.18 factors, or 1.9%, to 11,323.33.
- US crude oil costs superior once more Friday. The December future was up $2.49 to $88.96 per barrel.
- The US greenback index on continued decrease Friday.
- US gold futures continued greater because the greenback declined. The December future was up $15.70 to $1,769.40 per oz.
Recap for November 10
- Buyers, buoyed by a Labor Division report exhibiting its Shopper Value Index elevated 7.7% final month from October 2021 — down from 8.2% in September and from June’s 9.1% fee, which was the very best in 4 a long time — despatched US fairness markets sharply greater Thursday. It was one of the best one-day share acquire for the reason that early days of the pandemic for all three indexes. The Dow Jones Industrial Common skyrocketed 1,201.43 factors, or 3.7%, to 33,715.37. The Customary & Poor’s 500 Index popped 207.80 factors greater, or 5.5%, to three,956.37. The Nasdaq Composite shot up 760.97 factors, or 7.4%, to 11,114.15.
- Wheat, corn and soybean futures declined Thursday regardless of the declining greenback that ostensibly made US provides cheaper for exporters. Corn noticed further stress from export gross sales under expectations, and each corn and soybeans had been weighed down by Wednesday’s USDA stories exhibiting larger-than-expected inventories. December corn dropped 11¼¢ to shut at $6.53¼ a bu. Chicago December wheat shed 3¢ to shut at $8.03½ a bu; furthest deferred months had been greater. Kansas Metropolis December wheat fell 4¾¢ to shut at $9.25¼ a bu. Minneapolis December wheat was down 6¾¢ to shut at $9.31½ a bu. November soybeans fell 29¼¢ to shut at $14.30½ a bu. December soybean meal dropped $13.50 to shut at $404.10 per ton. December soybean oil added 0.55¢ to settle at 76.09¢ a lb.
- US crude oil costs superior Thursday, the December future was up 64¢ to $86.47 per barrel.
- The US greenback index on Thursday reverted to a draw back development after a one-day reprieve.
- US gold futures jumped because the greenback dived. The December future was up $40 to $1,753.70 per oz.
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