Russia hikes export tax, boosts wheat futures | 2021-01-19

152
SHARES
1.9k
VIEWS


Soybean oil futures chart

Recap for January 15

  • Russia’s plan to double the tax on its wheat exports boosted Chicago wheat futures Friday. Close by corn futures dipped on profit-taking two days after hovering to a 7½-year excessive. Soybean futures fared equally with additional stress from a soybean crush report that got here in beneath market expectations. March corn declined 2¾¢, settling at $5.31½ a bu; September and past had been 1½¢ to 3¾¢ larger. Chicago March wheat added 5½¢ to shut at $6.75½ a bu. Kansas Metropolis March wheat was up 6½¢ to shut at $6.43 a bu. Minneapolis March wheat added 2¾¢, closing at $6.43¼ a bu. March soybeans slumped 13¾¢, closing at $14.16¾ a bu, although declines weren’t as extreme starting in August, and November-forward contracts had been 1¼¢ to 7¢ a bu larger. March soybean meal eased $1.70 to shut at $463.20 a ton; November and past had been $1.50 to $4.20 larger. March soybean oil retreated 1.26¢ to 41.85¢ a lb.
  • US fairness markets closed decrease Friday a day after President-elect Biden stated his COVID-19 reduction plan would price $1.9 trillion. Further stress was ascribed to the December retail gross sales report, which confirmed eating places and on-line sectors declined a seasonally adjusted 0.7% from November, thus the third consecutive month of declines. The Dow Jones Industrial Common declined 177.26 factors, or 0.57%, to shut at 30,814.26. The Commonplace & Poor’s 500 Index dipped 27.29 factors, or 0.72%, to shut at 3,768.25. The Nasdaq Composite dropped 114.14 factors, or 0.87%, to shut at 12,998.50.
  • US crude oil costs closed the week with a decline. Analysts attributed the decline to uncertainty because of more durable restrictions on international mobility and spiraling coronavirus instances. The February future dipped $1.21 to shut at $52.36 per barrel.
  • The US greenback index maintained its weeklong up-down sample with a better shut Friday.
  • US gold futures declined in typical dynamic with the stronger greenback. The February contract was down $21.50 at $1,829.90 per oz.

Recap for January 14

  • Sturdy demand underscored on this week’s USDA supply-demand report pushed close by March soybean futures up 1.7% Thursday (up 4% for the week). Corn futures rallied with assist from an EPA announcement that it will not deal with exempting some oil refineries from biofuel mixing legal guidelines. Positive factors in corn buoyed wheat futures, which had been larger regardless of weekly export gross sales beneath the vary of market forecasts. March corn added 9¾¢, settling at $5.34¼ a bu. Chicago March wheat superior 9½¢ to shut at $6.70 a bu. Kansas Metropolis March wheat was up 10¾¢ to shut at $6.36½ a bu. Minneapolis March wheat added 11¾¢, closing at $6.40½ a bu. January soybeans jumped 25½¢, closing at $14.36½ a bu. January soybean meal rose $2.50 to shut at $464.90 a ton. January soybean oil superior 0.59¢ to shut at 43.27¢ a lb.
  • US fairness markets closed decrease Thursday prematurely of President-elect Joe Biden’s speech by which he was anticipated to announce a request to Congress for a $1.9 trillion stimulus bundle for pandemic reduction. The indexes had been larger many of the day earlier than giving up positive factors within the hour earlier than closing bells. The Dow Jones Industrial Common slipped 68.95 factors, or 0.22%, to shut at 30,991.52. The Commonplace & Poor’s 500 Index eased 14.30 factors, or 0.38%, to shut at 3,795.54. The Nasdaq Composite declined 16.31 factors, or 0.12%, to shut at 13,112.64.
  • US crude oil costs superior Thursday. The February future rose 66¢ to shut at $53.57 per barrel.
  • The US greenback index closed decrease Thursday.
  • US gold futures dipped, the February contract was down $3.50 at $1,851.40 per oz.

Recap for January 13

  • After the USDA estimated smaller-than-expected 2020 corn and soybean crops and stated some key commodity stockpiles had been smaller than beforehand thought, US corn, soybean and wheat futures rallied Tuesday. Corn surged as a lot as 5%, soybeans added practically 4% and winter wheat futures gained virtually 5%. March corn jumped 25¢ (the each day buying and selling restrict), settling at $5.17¼ a bu. Chicago March wheat superior 30¼¢ to shut at $6.65 a bu. Kansas Metropolis March wheat was up 28½¢ to shut at $6.22½ a bu. Minneapolis March wheat added 14½¢, closing at $6.20¾ a bu. January soybeans surged 47½¢, closing at $14.22 a bu. January soybean meal added $19.40 to shut at $471.20 a ton. January soybean oil was unchanged at 43.13¢ a lb, later months had been blended.
  • US fairness markets edged larger Tuesday, however declines within the shares of some know-how firms restricted positive factors. The Dow Jones Industrial Common added 60 factors, or 0.19%, to shut at 31,068.69. The Commonplace & Poor’s 500 Index edged up 1.58 factors, or 0.04%, to shut at 3,801.19. The Nasdaq Composite added 36 factors, or 0.28%, to shut at 13,072.43.
  • US crude oil costs superior once more Tuesday. The February future added 96¢ to shut at $53.21 per barrel.
  • The US greenback index closed decrease for the primary time in 5 classes.
  • US gold futures dipped even because the US greenback weakened. The February contract was down $6.60 at $1,844.20 per oz.

Recap for January 11

  • Crop-boosting South American rains despatched soybean futures decrease Monday. Additionally an element had been a firmer US greenback and position-squaring forward of a bevy of USDA stories coming Tuesday, each of which helped pull corn and wheat futures again from multi-year peaks. March corn dropped 4¢, settling at $4.96¼ a bu; December 2021 and additional had been larger. Chicago March wheat fell 4¢ to shut at $6.34¾ a bu. Kansas Metropolis March wheat eased ¾¢ to shut at $5.94 a bu. Minneapolis March wheat fell 1¾¢, closing at $6.06 a bu. January soybeans fell 1¼¢, closing at $13.74½ a bu. January soybean meal added $7 to shut at $451.80 a ton. January soybean oil fell 0.63¢ to shut at 43.13¢ a lb, with sharp losses throughout all months.
  • US fairness markets closed decrease Monday as traders reckoned with new fears for extra stringent regulation over know-how companies which have pushed a lot of the inventory market’s restoration. The Dow Jones Industrial Common fell 89.28 factors, or 0.29%, to shut at 31,008.69. The Commonplace & Poor’s 500 Index fell 25.07 factors, or 0.66%, to shut at 3,799.61. The Nasdaq Composite fell 165.54 factors, or 1.25%, to shut at 13,036.43.
  • US crude oil costs edged larger Monday to a 10-month excessive after a unstable session of positive factors and losses. Stress got here from demand considerations within the wake of a wave of recent coronavirus instances in China, Europe and South America. Help got here from the idea OPEC is dedicated to responding to consumption dips with manufacturing changes. The February future added 1¢ to shut at $52.25 per barrel.
  • The US greenback index opened the week with a fourth straight larger shut.
  • US gold futures superior regardless of the stronger US greenback. The February contract was up $15.40 at $1,850.80 per oz.

Ingredient Markets



Source link

Next Post

Leave a Reply

Your email address will not be published. Required fields are marked *

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.