Corn, soybeans and wheat decline before WASDE

Recap of March 5th

• Corn, soybean and wheat futures were unable to maintain overnight buying gains and fell on Tuesday. Corn and soybeans are hovering near three-year lows ahead of Friday's updated supply and demand figures from the USDA. Soybeans were under pressure from increased cash selling. Wheat fell as European wheat futures fell amid weak prices in the Black Sea, which is believed to be the winning origin from Algeria's tender. the May corn Future lost 3¾¢ to close at $4.26 per unit. chicago May wheat It fell 13 cents to settle at $5.51 per unit. Kansas City May wheat It fell 11 cents to close at $5.69 per unit. Minneapolis maybe wheat It fell 4 cents but closed at $6.55 per unit. Soybean mayo It fell 6 cents to close at $11.49 per unit. Soybean meal It fell $3.60 to close at $329.90 per ton. May soybean oil It fell 0.13 cents to close at 45.04 cents per pound.

• All of the tech giant's stocks except Nvidia fell on Tuesday, pulling major stock markets back from their recent record highs. Trading was cautious ahead of key data coming from the government, including Friday's jobs report. the Dow Jones Industrial Average The stock fell 404.64 points, or 1.04%, to close at 38,585.19 points. the Standard & Poor's 500 The stock fell 52.3 points, or 1.02%, to close at 5,078.65 points. the Nasdaq Composite The stock fell 267.92 points, or 1.65%, to close at 15,939.59 points.

• US crude oil Prices fell again on Tuesday. April West Texas Intermediate Light crude oil fell 59 cents to close at $78.15 a barrel.

• the US dollar index It closed lower for the third straight day of trading on Tuesday.

• American gold Futures Apply again on Tuesday. The April contract added $15.60 to close at $2,141.90 an ounce.

Recap for March 4th

• Corn and soybean futures closed higher Monday amid profitable buying off recent three-year lows and short covering moves. Gains were limited by abundant supplies in South America. Wheat futures shrugged off lower Russian wheat prices and Australian wheat crop news on Monday and closed higher in a round of short covering alongside corn and soybean futures. the May corn Future added 5¼¢ to close at $4.30 per unit. chicago May wheat 6¼¢ was added to settle at $5.64 per unit. Kansas City May wheat Added 15¾¢ to close at $5.80 per unit. Minneapolis maybe wheat It also rose 15¾¢ but closed at $6.59 per unit. Soybean mayo advanced 3¾¢ to close at $11.55 per unit. Soybean meal It added $1.20 to close at $333.50 per ton. May soybean oil It rose 0.01 cent to close at 45.17 cents per pound.

• US stock indices fell on Monday, dragged down by a decline in six of the Magnificent Seven stocks: Alphabet, Amazon, Apple, Meta Platforms, Microsoft and Tesla. The seventh company, Nvidia, rose 3.6% after closing on Friday for the first time above the market value of $2 trillion. the Dow Jones Industrial Average The stock fell 97.55 points, or 0.25%, to close at 38,989.83 points. the Standard & Poor's 500 The stock fell 6.13 points, or 0.12%, to close at 5,130.95 points. the Nasdaq Composite The stock fell 67.43 points, or 0.41%, to close at 16,207.51 points.

• US crude oil Prices fell on Monday. April West Texas Intermediate Light crude oil fell $1.23 to close at $78.74 per barrel.

• the US dollar index It closed lower for a second session on Monday after rising for most of last week.

• American gold Futures Apply again on Monday. The April contract jumped $30.60 to close at $2,126.30 an ounce.

Recap for March 1

• Abundant Black Sea supplies and lower Russian wheat prices weighed on the wheat complex at the end of the week. Spillover weakness sent corn futures lower on Friday. Soybean futures rose at the end of the week on long and short-covering trades after hitting three-year lows the previous day. Gains were limited by weak exports and large global supplies. the May corn The futures price fell 4¾¢ to close at $4.24 per unit. chicago May wheat It fell 18½ cents to settle at $5.57 per unit. Kansas City May wheat It fell 22¾¢ to close at $5.64 per unit. Minneapolis maybe wheat It fell 15¼ cents to close at $6.43 per unit. Soybean mayo It jumped 10½ cents to close at $11.51 per unit. Soybean meal It added $3.10 to close at $332.30 per ton. May soybean oil It fell 0.05 cents to close at 45.16 cents per pound.

• US stock indexes posted gains on Friday. A surge in Nvidia shares pushed the AI-focused tech giant's market value above $2 trillion on Friday. The S&P 500 notched its 15th new record high of 2024 and its 16th weekly gain in the past 18 weeks, a streak not seen in 53 years. the Dow Jones Industrial Average It rose 90.99 points, or 0.23%, to close at 39,087.38 points. the Standard & Poor's 500 It rose 40.81 points, or 0.80%, to close at 5137.08 points. the Nasdaq Composite The stock jumped 183.02 points, or 1.14%, to close at 16,274.94 points.

• US crude oil Prices turned and closed higher on Friday. April West Texas Intermediate Light crude oil price added $1.71 to close at $79.97 per barrel.

• the US dollar index It closed lower on Friday, snapping a three-day winning streak.

• American gold Futures Apply again on Friday. The April contract rose $41 to close at $2,095.70 an ounce.

Recap of February 29th

• The Nasdaq on Thursday hit its first new record high since 2021, ending a streak of 569 trading days without one. The other two major stock indices also rose supported by Hormel Foods shares, which rose 14% after earnings beat expectations. Advanced micro devices crossed the $300 billion market cap line for the first time. the Dow Jones Industrial Average The stock increased 47.37 points, or 0.12%, to close at 38,996.39 points. the Standard & Poor's 500 It rose 26.51 points, or 0.52%, to close at 5,096.27 points. the Nasdaq Composite The stock jumped 144.18 points, or 0.90%, to close at 16,091.92 points.

• Improving weather in South America sent US soybean futures falling to a three-year low on Thursday with further pressure from lackluster US export sales and larger-than-expected contract deliveries. Corn futures were mixed in choppy technical trading. U.S. wheat futures were mostly higher on Thursday, although deferred soft wheat futures eased under pressure from a stronger dollar, weaker spillovers from corn and soybeans, and intense competition for global exports. the May corn Future added 1 cent to close at $4.29 a half per unit. chicago May wheat 1½ cents added to settle at $5.76 per unit; The subsequent months were mixed. Kansas City May wheat 6¼¢ was added to close at $5.87 per unit. Minneapolis maybe wheat It rose 3 cents to close at $6.59 per unit. Soybean mayo It fell 4½ cents to close at $11.40 per unit. Soybean meal It added $1.70 to close at $329.20 per ton with subsequent months mixed. May soybean oil It rose 0.02 cents to close at 45.21 cents per pound.

• US crude oil Prices closed lower again on Thursday. April West Texas Intermediate Light crude oil fell 28 cents to close at $78.26 a barrel.

• the US dollar index It closed higher for the third straight session on Thursday.

• American gold Futures Advanced Thursday. The April contract added $12 to close at $2,054.70 an ounce.

Recap of February 28th

• Signs of abundant grain supplies in the Black Sea region, including in Ukraine where February grain shipments so far are up 12% year-on-year, weighed on wheat futures on Wednesday. Corn futures advanced modestly in recovery mode after recently hitting three-year lows. Soybean futures rose in short covering and technical buying moves on Wednesday. the May corn Future added 5 cents to close at $4.28 per unit. chicago May wheat It fell 9.5 cents to settle at US$5.74 per unit. Kansas City May wheat It fell 4¾ cents to close at $5.81 per unit. Minneapolis maybe wheat It gave up 6¼¢ to close at $6.56 per unit. Soybean mayo advanced 4½ cents to close at $11.45 per unit. Soybean meal It added $2.60 to close at $327.50 per ton. May soybean oil It fell 0.25 cents to close at 44.66 cents per pound.

• US stock markets fell on Wednesday under pressure from falling shares of technology giants such as Apple and Alphabet, as investors awaited new inflation data to be released on Thursday. the Dow Jones Industrial Average The stock fell 23.39 points, or 0.06%, to close at 38,949.02 points. the Standard & Poor's 500 The stock fell 8.42 points, or 0.17%, to close at 5,069.76 points. the Nasdaq Composite The stock fell 87.56 points, or 0.55%, to close at 15,947.74 points.

• US crude oil Prices closed lower on Wednesday. April West Texas Intermediate Light crude oil fell 33 cents to close at $78.54 a barrel.

• the US dollar index It closed higher for a second day on Wednesday following an eight-day losing streak.

• American gold Futures Dropped Wednesday. The April contract fell $1.40 to close at $2,042.70 an ounce.