Crop conditions, profit-taking drive agriculture futures | 2021-07-28 – Food Business News

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House » Crop situations, revenue-taking drive agriculture futures

Recap for July 27

  • Unexpectedly decrease crop situation scores boosted soybean futures Tuesday. Corn futures have been on an upward trajectory Tuesday morning earlier than revenue-taking despatched them decrease by the closing bell. Gentle winter wheat futures additionally have been greater early Inside the day earlier than a spherical of revenue-taking despatched them decrease. Winter wheat futures have been greater after a Russian agriculture consultancy reduce its forecast for the nation’s 2021-22 wheat exports. Spring wheat futures notched obtains a day after USDA situation scores confirmed the crop was in worse type than analysts althought. September corn fell 1¢ To close at $5.48¾ a bu. Chicago September wheat fell 2½¢ To close at $6.74½ a bu. Kansas Metropolis September wheat added 2½¢, closing at $6.41½ a bu. Minneapolis September wheat declined ½¢ To close at $8.78¼ a bu, although all later contracts superior. August soybeans have been up 5½¢ To close at $14.18¼ a bu; March 2022 and past have been decrease. August soybean meal added $5.20 To close at $358.80 a ton. August soybean oil declined 0.17¢ to settle at 66.26¢ a lb.
  • Losses in huge tech shares Similar to Amazon and Alphabet, Collectively with airways and cruise corporations, pulled US equity markets decrease, snapping their 5-session win streak, Regardless of The very Incontrovertible actuality that a quantity of primary tech corporations reported sharply greater quarterly earnings. The Dow Jones Industrial Common declined 85.79 factors, or 0.24%, closing at 35,058.52. The Regular & Poor’s 500 Index fell 20.84 factors, or 0.47%, To close at 4,401.46. The Nasdaq Composite fell 180.14 factors, or 1.21%, To close at 14,660.58, its largest one-day decline since Might.
  • US crude oil futures have been decrease as quickly as extra Tuesday. The September contract eased 26¢ to $71.65 a barrel.
  • The US greenback index declined for a second day Tuesday after principally closing greater the earlier week.
  • US gold futures edged greater As a Outcome of the greenback continued To say no. The August contract was up 60¢ at $1,799.80 per oz.

Recap for July 26

  • Corn futures superior To start out the week Monday as dealer considerations over political rigidity between the US and China have been considerably assuaged when export inspections confirmed the latter nation continued to import US provides. Soybean futures additionally superior Monday as current two-week lows had retailers worrying the market was oversold and with assist from a palm oil rally. Wheat futures have been decrease as export inspections generated cas quickly asrn about overseas demand for US wheat. September corn added 2½¢ To close at $5.49¾ a bu. Chicago September wheat fell 7¢ To close at $6.77 a bu. Kansas Metropolis September wheat additionally dropped 7¢, closing at $6.39 a bu. Minneapolis September wheat declined 4¾¢ To close at $8.78¾ a bu. August soybeans have been up 11¾¢ To close at $14.12¾ a bu. August soybean meal was regular at $353.60 a ton; later months have been mixed however principally decrease. August soybean oil superior 0.77¢ to settle at 66.43¢ a lb.
  • US equity markets superior Monday Whilst rising considerations about financial progress amid the COVID-19 Delta variant outbreak posed a problem to the tempo at which shares have been rising. All three primary indexes notched doc-extreme shuts for a second-straight session. The Dow Jones Industrial Common added 82.76 factors, or 0.24%, closing at 35,144.31. The Regular & Poor’s 500 Index added 10.51 factors, or 0.24%, To close at 4,422.30. The Nasdaq Composite edged up 3.72 factors, or 0.03%, To close at 14,840.71.
  • US crude oil futures have been mixed Monday, The two entrance months easing whereas November and December contracts have been greater. The September contract eased 16¢ to $71.91 a barrel.
  • The US greenback index declined Monday following Higher than Every week of principally greater shuts.
  • US gold futures continued to ease Monday despite the greenback’s decrease flip. The August contract was down $2.60 at $1,799.20 per oz.

Recap for July 23

  • Forecast for cooler crop climate and greater possibilities for useful rains weighed on corn and soybean futures Friday. These declines pulled wheat decrease, offsetting ongoing wheat crop factors Inside the northern Plains, Canadian Prairies and key Black Sea area rivals. September corn was down 17¼¢ at $5.47¼ a bu. Chicago September wheat fell 8¼¢ To close at $6.84 a bu. Kansas Metropolis September wheat fell 7¾¢ To close at $6.46 a bu. Minneapolis September wheat declined 20½¢ To close at $8.83½ a bu. August soybeans fell 15¼¢ To close at $14.01 a bu. August soybean meal declined $9.60, closing at $353.60 a ton. August soybean oil superior 0.66¢ to settle at 65.66¢ a lb.
  • US equity markets pulled off a distinctive rebound from Monday’s selloff, with all three primary indexes closing the week In any respect-time extremes Friday. The Dow Jones Industrial Common added 238.20 factors, or 0.68%, closing at 35,061.55, a 1.1% weekly obtain and the quickest rise to a milestone, taking simply 165 days to climb from 30,000. The Regular & Poor’s 500 Index added 44.31 factors, or 1.01%, To close at 4,411.79, a 2% weekly obtain and its Fortieth doc shut of the yr. The Nasdaq Composite added 152.39 factors, or 1.04%, To close at 14,836.99.
  • US crude oil futures climbed as quickly as extra Friday, the September contract was up 16¢ to $72.07 a barrel.
  • The US greenback index climbed Friday for the sixth time in seven durations.
  • US gold futures slid Friday As a Outcome of the greenback continued its upward trajectory. The August contract was down $3.60 at $1,801.80 per oz.

Recap for July 22

  • Profit-taking reduce brief a six-session win streak for winter wheat Thursday. Spring wheat futures have been mixed, however principally greater in a spherical of low cost buying for after declining a day earlier. Forecasts for a lot-needed rain all by way of a esdespatchedial stage of crop enchancment Inside the US Midwest despatched soybean futures decrease. Corn futures have been decrease after internet export gross sales have been the smallest since July 12, which triggered some analysts to say prices had gotten too extreme to entice overseas consumers. September corn was down 7¼¢ at $5.64½ a bu. Chicago September wheat fell 18½¢ To close at $6.92¼ a bu. Kansas Metropolis September wheat fell 15¢ To close at $6.53¾ a bu. Minneapolis September wheat added 6¼¢ To close at $9.04 a bu; Might 2022 and later months have been mixed. August soybeans fell 23¢ To close at $14.16¼ a bu. August soybean meal declined $6.60, closing at $363.20 a ton. August soybean oil declined 0.46¢ to settle at 65¢ a lb.
  • Major US equity indexes have been greater Thursday, persevering with to stabilize after Monday’s steep declines on potential threats to the financial restoration As a Outcome of of Delta variant of COVID-19. All three indexes have been within 1% of their doc extremes. The Dow Jones Industrial Common added 25.35 factors, or 0.07%, closing at 34,823.35. The Regular & Poor’s 500 Index added 8.79 factors, or 0.20%, To close at 4,367.48. The Nasdaq Composite added 52.64 factors, or 0.36%, To close at 14,684.60.
  • US crude oil futures climbed Thursday, the September contract was up $1.61, to $71.91 a barrel.
  • The US greenback index climbed Thursday for the fifth time in six buying and promoting days.
  • US gold futures superior Thursday even As a Outcome of the greenback reverted to its upside enchancment. The August contract was up $2 at $1,805.40 per oz.

Recap for July 21

  • Spring wheat futures shutd decrease Wednesday as retailers sought extra Particulars Regarding the depth of crop factors Inside the northern Plains. Winter wheat futures superior on potential crop brieffalls in overseas rivals. Cas quickly asrns linked to dry Midwest climate situations despatched most corn futures greater. Weather considerations additionally assisted new-crop soybean futures, however close by contracts weakened beneath strain from soybean oil’s sharp decline. September corn was unchanged at $5.71¾ a bu; later contracts have been mixed, principally greater. Chicago September wheat added 10¼¢ To close at $7.10¾ a bu. Kansas Metropolis September wheat added 8½¢ To close at $6.68¾ a bu. Minneapolis September wheat dropped 18¼¢ To close at $8.97¾ a bu; December 2022 was greater. August soybeans fell 4¼¢ To close at $14.39¼ a bu; November 2021 and past have been principally greater. August soybean meal added $4.30, closing at $369.80 a ton. August soybean oil declined 1.56¢ to settle at 65.46¢ a lb.
  • US equity markets have been greater Wednesday. Buyers reprimaryed cautious of The worldwide financial outlook, however drew comfort from constructive earnings statements from, amongst others, Chipotle Mexican Grill, Coca-Cola and Johnson & Johnson. The Dow Jones Industrial Common added 286.01 factors, or 0.83%, closing at 34,798.00. The Regular & Poor’s 500 Index added 35.63 factors, or 0.82%, To close at 4,358.69. The Nasdaq Composite added 133.08 factors, or 0.92%, To close at 14,631.95.
  • US crude oil futures superior Wednesday, the September contract was up $3.10 to $70.30 a barrel.
  • The US greenback index fliped decrease Wednesday after climbing for 4 straight durations.
  • US gold futures declined Wednesday even As a Outcome of the greenback did The identical. The August contract was down $8 at $1,803.40 per oz.

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