Recap for December 29
- Wheat futures posted narrow, mixed changes Friday ahead of the New Year’s Day holiday but were up for the week as concerns about export demand were more than offset by increased strife in the Russia-Ukraine war. Corn and soybean futures were lower for the day and for the week on improved weather prospects for Brazil’s corn and soybean crops. For the year, nearby corn futures were down about 30% from a year earlier, Chicago wheat was down about 20% and soybean futures were down 15%. March corn futures were 3¢ lower to close at $4.71¼ per bu. Chicago March wheat declined 3½¢ to close at $6.28½ per bu; later months were narrowly mixed. Kansas City March wheat slipped 1¾¢ to close at $6.42 per bu; later months were narrowly mixed. Minneapolis March wheat lost 2¢ to close at $7.23½ per bu. March soybeans dropped 14¢ to close at $12.98 per bu. March soybean meal was down $4.70 to close at $386 per ton. March soybean oil gained 0.20¢ to close at 48.18¢ a lb.
- US equity indexes closed with small to modest losses Friday due mainly to profit taking but posted double-digit growth for the year and were near record highs as traders anticipated an easing monetary policy and lower interest rates in 2024. The Dow Jones Industrial Average lost 20.56 points, or 0.05%, to close at 37,689.54. The Standard & Poor’s 500 was down 13.52 points, or 0.28%, to close…
