August 16 review

  • Technical sales weighed on the top five corn contracts after strong price increases the week before and the cross-market spread versus soybeans. This gap, along with rejuvenated export demand for U.S. supplies, pushed soybean futures prices up slightly and corn futures prices 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 $ 5.64¾ 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.
  • US 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 the week upwards.
  • 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 large cuts 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 about tight global supplies pushed complex soybean futures up to close the week. Corn futures advanced at the start of Friday’s session before most contracts retreated taking profits a day after the weaker-than-expected USDA crop estimate sent the contract December 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 48th closing record 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 set U.S. wheat output 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 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 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.

August 11 review

  • Agricultural futures were mixed on Wednesday ahead of crop production updates and the US Department of Agriculture’s monthly supply and demand reports. Soybean and corn futures prices were mostly higher, supported by analysts’ forecasts of lower production and yield estimates for both. Soybeans were also supported by a new crop export sale to China. Uncertainty in global demand and positioning ahead of the report pushed down most wheat futures prices. September But rose 7 to close at 5.56 per bu. Chicago September wheat was flat at $ 7.27 a bushel, with subsequent months unchanged or within a narrow range. Kansas City September wheat fell 4 ¢ to close at $ 7.10 a bushel. Minneapolis September wheat fell 2½ ¢ to close at $ 9.13 a bushel. September soy slashed by 1 to close at $ 13.47 a bu; the following months were higher. September soy dish fell $ 3.60 to close at $ 353.90 a tonne. September soybean oil rose 1.03 to 62.22 a pound.
  • US equity markets were mixed on Wednesday, with the Nasdaq posting a loss. The DJIA and the S&P 500 were higher after a Labor Department report said consumer prices in July rose 5.4% from July 2020, the same pace as in June, and the highest 12-month rate since 2008. The Dow Jones Industrial Average added 220.30 points, or 0.62%, closing at a record 35,484.97. the Standard & Poor’s 500 Index edged up 10.95 points, or 0.25%, to close at a record 4,447.70. the Nasdaq Composite decreased 22.95 points, or 0.16%, to close at 14,765.14.
  • Growth forecasts for fuel demand in the United States have helped American crude oil futures continue to tear higher on Wednesday. The September contract gained 96 ¢ to close at $ 69.25 a barrel.
  • the US dollar index was lower on Wednesday.
  • american gold futures advanced Wednesday amid the dollar decline. The August contract rose $ 21.60 to $ 1,750.40 per ounce.

August 10 review

  • U.S. wheat futures rose on Tuesday amid concerns over global supply after European wheat futures peaked amid concerns over the quality of the French wheat crop due to rains during harvest and rising wheat prices in Russia. The market was awaiting the August 12 USDA reports which should show lower production and carryover estimates for US wheat. Soybean futures advanced on new export sales to the United States, including sales to China. Corn futures eased on slightly higher USDA crop condition assessments released on Monday evening, although new export sales provided offsetting support. September But reduced by 1 to close at 5.49 the drunk. Chicago September wheat rose ¾ ¢ to close at $ 7.27 a bushel. Kansas City September wheat gained ¾ ¢ to close at 7.14 a bushel. Minneapolis September wheat rose 6 ¾ ¢ to close at $ 9.15 ½ a bushel. August soy rose 13 ¾ ¢ to close at $ 14.47½ a bu; November 2022 and the following months were lower. August soy dish gained 70 to close at $ 360.30 a tonne; the following months were mixed, mostly lower. August soybean oil fell 0.31 to 65.41 a pound, but all subsequent months were higher.
  • U.S. stock indexes were mixed up again on Tuesday, but the DJIA and S&P 500 closed at record highs. Support came from gains in energy stocks, strong earnings reports and Senate passage of the infrastructure bill. the Dow Jones Industrial Average rose 162.82 points, or 0.46%, to close at 35,264.67. the Standard & Poor’s 500 Index rose 4.40 points, or 0.10%, to close at 4,436.75. the Nasdaq Composite lost 72.09 points, or 0.49%, to close at 14,788.09.
  • American crude oil Futures reversed Monday’s drop to close sharply higher on Tuesday, in part due to a forecast for fuel demand growth in the United States. The September contract gained $ 1.81 to close at $ 68.29 a barrel.
  • the US dollar index was higher on Tuesday.
  • american gold futures contracts advanced on Tuesday even as the value of the dollar rose. The August contract rose $ 5.40 to $ 1,728.80 an ounce.