Recap for January 4

  • Wheat futures closed higher Thursday with Chicago soft red winter contracts leading the way, bouncing off one-month lows on talk that China may be seeking more US soft red winter wheat. Soybean futures declined amid rains providing relief to dry Brazilian fields and concerns about US export sales. Corn futures were slightly higher in market consolidation moves in the nearby months, mixed later. March corn futures ticked up 1¼¢ to close at $4.66½ per bu; later months were unchanged or narrowly mixed. Chicago March wheat jumped 13¼¢ to close at $6.13½ per bu. Kansas City March wheat added 4¼¢ to close at $6.25¾ per bu. Minneapolis March wheat advanced 2¾¢ to close at $7.11¼ per bu. March soybeans dropped 9½¢ to close at $12.67½ per bu. March soybean meal was down $4.20 to close at $376.20 per ton. March soybean oil fell 0.44¢ to close at 48.16¢ a lb.
  • US equity markets were mixed Thursday. It was a fifth straight day of losses for the Nasdaq, which posted its worst two-day start to a year since 2005. The index was weighed down by Apple and Amazon, among others. The Dow Jones industrials index eked out another gain while the S&P 500 slipped lower. Conagra Foods and Walgreens Boots Alliance were among shares that dipped. The Dow Jones Industrial Average edged up 10.15 points, or 0.03%, to close at 37,440.34. The Standard & Poor’s 500 was down 16.13 points, or 0.34%, to close at 4,688.68. The Nasdaq Composite dropped 81.91 points, or 0.56%, to close at 14,510.30.
  • US crude oil prices declined Thursday, the February W.T.I. sweet crude future was down 51¢ to close at $72.19 per barrel. 
  • The US dollar