August 18 review

  • A day after falling more than 3%, wheat futures stabilized and ended on an overall firm basis on Wednesday in a bargain buying rebound. The same phenomenon boosted most corn futures months, although gains were limited by beneficial rains in parts of the Midwest this week and a sixth straight week of declining ethanol production. Soybean futures prices have slipped a notch due to rainy forecasts and lower global vegetable oil prices. September But rose 3½ ¢ to close at 5.61 a bu. Chicago September wheat added 2 ¾ ¢ to close at 7.37 a bushel; the most deferred contracts relaxed or remained unchanged. Kansas City September wheat rose 7 to close at 7.23 a bushel. Minneapolis September wheat rose 2 ¢ to close at $ 9.23 a bushel. September soy fell 10 to close at 13.58 per bu. September soy dish fell $ 2.50 to close at $ 357.50 a tonne. September soybean oil fell 0.61 to 61.93 a pound.
  • Calm markets wavered between small gains and losses for most of the day on Wednesday before dropping back near session lows after the Federal Reserve meeting minutes were released, indicating that most officials consider the economic recovery to be advanced to such an extent that the central bank could begin the process of reduction later this year. . The Dow Jones Industrial Average fell 382.59 points, or 1.08%, to close at 34,960.69. The Standard & Poor’s 500 Index fell 47.81 points, or 1.07%, to close at 4,400.27. The Nasdaq Composite lost 130.27 points, or 0.89%, to close at 14,525.91.
  • American crude oil Futures continued to fall on Wednesday, with September’s contract down $ 1.13 to close at $ 65.46 a barrel.
  • The US dollar index relaxed in the neighboring contract, but brought forward to December.
  • american gold Futures fell on Wednesday, with the August contract down $ 3.40 to $ 1,781.60 an ounce.

Review of August 17

  • US wheat futures echoed the tone set by Euronext wheat futures, which fell sharply in profit taking on Tuesday. Under further pressure from a stronger US dollar, some wheat futures fell more than 3% after hitting 8.5-year highs last week. Corn futures also fell amid wheat pressure and forecasts of welcome rains in parts of the northwestern Corn Belt. Lower corn and wheat futures prices helped lower soybean futures prices, offsetting support from fresh export sales. September But fell 6½ ¢ to close at 5.58 a bu. Chicago September wheat fell 26 ¢ to close at $ 7.34½ a bushel. Kansas City September wheat fell 19 to close at 7.16 a bushel. Minneapolis September wheat fell 21 ¢ to close at $ 9.21 a bushel. September soy dipped 7 to close at $ 13.69 a bu. September soy dish added 70 to close at $ 360.10 a tonne. September soybean oil fell 0.75 to 62.54 a pound.
  • U.S. stock markets closed lower on Tuesday after a Commerce Department report said spending by U.S. retailers fell sharply in July, falling 1.1% from the previous month, more than the drop of 0 , 3% expected by some economists. The Dow Jones Industrial Average lost 282.12 points, or 0.79%, closing at 35,343.28. The Standard & Poor’s 500 Index slipped 31.63 points, or 0.71%, to close at 4,448.08. The Nasdaq Composite lost 137.58 points, or 0.93%, to close at 14,656.18.
  • American crude oil Futures continued to fall, September’s contract fell 70 to close at $ 66.59 per barrel on Tuesday. The pressure stems from fears that a new wave of travel restrictions as cases of Delta coronavirus variants increase around the world will slow fuel demand.
  • The US dollar index continued its uptrend established a day earlier.
  • american gold futures eased on Tuesday as the dollar rose. The August contract rose $ 1.90 to $ 1,785 an ounce.

August 16 review

  • Technical sales weighed on the top five corn contracts after strong price increases the previous week and cross-market spread versus soybeans. This gap, along with rejuvenated export demand for U.S. supplies, caused soybean futures prices to rise slightly and the corn futures market through July 2022 to slightly lower. Wheat futures were mixed on Monday in range related trading, with Kansas City and Minneapolis futures mostly down. September But fell 3½ ¢ to close at $ 5.64 a bu; September 2022 and beyond were higher. Chicago September wheat fell 1¾ ¢ to close at $ 7.60½ a bushel, although all subsequent contracts were higher. Kansas City September wheat fell 5 ¾ ¢ to close at $ 7.36½ a bushel. Minneapolis September wheat was down 2¼ ¢ to close at $ 9.42 a bushel; the following months were mostly lower. September soy added 3 ¢ to close at $ 13.76 a bu. September soy dish added $ 1.80 to close at $ 359.40 a tonne. September soybean oil fell 0.43 to 63.29 a pound.
  • U.S. equity markets were mixed on Monday, with the Nasdaq easing as the DJIA and S&P 500 hit their 35th and 29th record close of the year, respectively. The Dow Jones Industrial Average added 110.02 points, or 0.31%, closing at a record 35,625.40. The Standard & Poor’s 500 Index added 11.71 points, or 0.26%, to close at a record 4,479.71. The Nasdaq Composite lost 29.14 points, or 0.20%, to close at 14,793.76.
  • American crude oil Futures fell again, September’s contract fell $ 1.15 to close at $ 67.29 a barrel, after data released on Monday showed China’s growth in industrial activity, consumer and investment slowed in July as cases of the Delta variant of the coronavirus increased.
  • The US dollar index open week to rise.
  • american gold futures advanced on Monday despite the dollar doing the same. The August contract rose $ 11.70 to $ 1,786.90 per ounce.

Review of August 13

  • Thursday’s US Department of Agriculture report containing significant reductions in global inventory estimates pushed wheat futures up again on Friday with some contracts to 8.5-year highs. Renewed export demand for US soybeans and concerns over tight global supplies pushed complex soybean futures up to close the week. Corn futures rose early in Friday’s session before most contracts retreated into profit taking a day after the weaker-than-expected USDA harvest estimate sent the December contract at its highest level in six weeks. September But added 1 to close at 5.68 per bu; the following months were mixed. Chicago September wheat added 8 to close at 7.62 a bushel. Kansas City September wheat climbed 3½ ¢ to close at $ 7.42¼ a bushel; July 2022 and beyond were lower. Minneapolis September wheat added 11½ ¢ to close at $ 9.44 a bushel. September soy jumped 26 ¢ to close at $ 13.73 a bu. September soy dish added $ 2.40 to close at $ 357.60 a tonne. September soybean oil added 1.47 to 63.72 per pound.
  • Strong profits from AirBnB, Disney and DoorDash helped push U.S. stock markets higher on Friday and the S&P 500 to its record 48th close of 2021. Dow Jones Industrial Average added 15.53 points, or 0.04%, closing at a record 35,515.38. The Standard & Poor’s 500 Index added 7.17 points, or 0.16%, to close at a record 4,468.00. The Nasdaq Composite added 6.64 points, or 0.04%, to close at 14,822.90.
  • American crude oil Futures fell again on Friday, September’s contract fell 65 ¢ to close at $ 68.44 a barrel.
  • The US dollar index returned to a downtrend to close the week.
  • american gold futures advanced on Friday as the dollar fell. The August contract rose $ 26.20 to $ 1,775.20 an ounce.

August 12 review

  • U.S. wheat futures posted strong gains on Thursday after the U.S. Department of Agriculture slashed production estimates in major exporting countries and fixed U.S. wheat production at its lowest level in 19 years . Weaker than expected yield and production forecasts in the USDA monthly report pushed up corn futures prices. The agency also cut its soybean production and yield estimates, but soybean futures ended mixed. September But rose 10 to close at $ 5.67 a bu. Chicago September wheat jumped 26½ ¢ to close at $ 7.53½ a bushel. Kansas City September wheat jumped 28½ ¢ to close at $ 7.38¾ a bushel. Minneapolis September wheat added 19 to close at 9.32 a bushel. September soy were stable at $ 13.47 per bushel; the following months were narrowly mixed. September soy dish added $ 1.30 to close at $ 355.20 a tonne. September soybean oil edged up 0.03 to 62.25 ¢ per pound; the following months were mixed but above all inferior.
  • U.S. stock markets rose on Thursday ahead of a series of earnings reports and with backing from a Department of Labor report showing jobless claims hit 375,000 last week, down slightly from the week before and in line with analysts’ expectations. The Dow Jones Industrial Average added 14.88 points, or 0.04%, closing at a record 35,499.85. The Standard & Poor’s 500 Index added 13.13 points, or 0.30%, to close at a record 4,460.83. The Nasdaq Composite added 51.13 points, or 0.35%, to close at 14,816.26.
  • American crude oil Futures eased on Thursday, September’s contract was down 16 ¢ to close at $ 69.09 a barrel.
  • The US dollar index was higher on Thursday.
  • american gold futures fell on Thursday as the dollar rose. The August contract fell $ 1.40 to $ 1,749 an ounce.