Recap for January 22

  • Gains in shares of Microsoft and other technology behemoths, plus Goldman Sachs, pushed equity markets higher Monday, the Dow industrials average above 38,000 for the first time in history. The Dow Jones Industrial Average added 138.01 points, or 0.36%, to close at 38,001.81. The Standard & Poor’s 500 added 10.62 points, or 0.22%, to close at 4,850.43. The Nasdaq Composite added 49.32 points, or 0.32%, to close at 15,360.29.
  • Wheat complex futures were mixed Monday, pressured by lower prices from Russia in the global export market, but supported by bargain buying and short covering. Strength in crude oil markets bolstered soybean oil futures, which pulled soybean futures higher. Corn futures were fractionally higher on spillover strength from soybean futures. The March corn future added ¼¢ to close at $4.45¾ per bu. Chicago March wheat added 3¼¢ to close at $5.96½ per bu. Kansas City March wheat fell 1¢ to close at $6.07 per bu; later months were mostly higher. Minneapolis March wheat was up 5¢ to close at $7.00½ per bu; the September contract was unchanged but the December contract and beyond were lower. March soybeans added 11¢ to close at $12.24¼ per bu. March soybean meal fell 70¢ to close at $355.80 per ton. March soybean oil added 1.26¢ to close at 48.16¢ a lb.
  • US crude oil prices were higher Monday. The expiring February West Texas Intermediate light, sweet crude future added $1.78 to close at $75.19 per barrel. The March contract was up $1.51 to close at $74.76 per barrel.
  • The US dollar index closed higher Monday, reigniting last week’s four-session rally. 
  • US gold futures closed lower Monday. The February contract fell $7.10 to close at $2,022.10