Grains/Markets-Week in review
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Started by metmike - April 19, 2019, 5:27 p.m.

Soybean futures turn higher after hitting 2019 lows

https://www.foodbusinessnews.net/articles/7-soybean-futures-turn-higher-after-hitting-2019-lows


Recap for April 18

  • Futures trading was subdued the day before markets closed for Good Friday. Soybean futures edged higher Thursday despite concerns about weak export demand and large South American harvests. Wheat futures posted mostly small losses while corn futures were narrowly mixed after U.S. wheat export sales in the week ended April 11 were reported in line with analysts’ expectations and corn sales topped estimates. Chicago May wheat dipped 2¾c to close at $4.44¼ a bu, Kansas City May eased ½c to close at $4.20 a bu, and Minneapolis May lost 4¼c to close at $5.23¼ a bu. May corn gained ¼c to $3.58½ a bu. May soybeans added 1½c to close at $8.80½ a bu. May soybean meal dropped 70c to close at $303.20 a ton. May soybean oil added 0.34c to close at 28.80c a lb.
  • U.S. equity markets were higher Thursday as investors continued to sift through corporate earnings reports. The Dow Jones Industrial Average jumped 110.00 points to close at 26,559.54. The Standard & Poor’s 500 Index added 4.58 points to close at 2,905.03, though the index remains up 16% for the year and 1% below last year’s record. The Nasdaq Composite Index edged up 1.98 points to close at 7,998.06.
  • U.S. crude oil futures edged higher Thursday after the Energy Information Administration indicated U.S. oil inventories fell by 1.4 million barrels last week, their first decline in four weeks. The May contract was up 24c to close at $64 per barrel.
  • The U.S. dollar closed higher for a third straight session Thursday after the Commerce Department said retail sales increased from a month earlier seasonally-adjusted 1.6% in March to $514.1 billion.
  • U.S. gold futures declined Thursday. The April contract lost 30c to close at $1,271.90 an oz.


 



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