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EXCESS US GRAIN SUPPLIES WEIGHING DOWN FUTURES MARKET

February 15 Recap:
Grain futures dropped on Thursday after the US Department of Agriculture predicted larger crop inventories for the 2024-25 marketing year, leading to a decline amid waning global demand for US supplies. Corn and soybean futures reached fresh three-year lows, while wheat futures in Kansas City and Minneapolis hit new contract lows. Chicago March wheat also settled at its lowest level since late November. The March corn future dropped 6›¢ for a second straight day to close at $4.17 per bu. Chicago March wheat fell 18›¢ to settle at $5.67 per bu, while Kansas City March wheat declined 12¢ to close at $5.75 per bu. Minneapolis March wheat lost 4›¢ to close at $6.58 per bu. Additionally, US equity indexes closed higher, with the Dow Jones Industrial Average jumping 348.85 points, or 0.91%, to close at 38,773.12, and the S&P 500 adding 29.11 points, or 0.58%, to close at 5,029.73. US crude oil prices were higher Thursday, closing at $78.03 per barrel.
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February 14 Recap:
Wheat complex futures were lower again on Wednesday, hitting fresh contract lows after the US dollar reached a three-month high before ending lower for the day. Corn and soybean futures followed wheat futures lower, sinking to three-year lows due to fund selling and ample global supplies. The March corn future dropped 6›¢ to close at $4.24¼ per bu, and Chicago March wheat fell 12¢ to settle at $5.85› per bu. Kansas City March wheat declined 6¢ to close at $5.87 per bu, while Minneapolis March wheat lost 9¼¢ to close at $6.62› per bu. March soybeans tumbled 15¢ to close at $11.70› per bu, and US equity indexes recovered some losses incurred the day before. The Dow Jones Industrial Average gained 151.52 points, or 0.40%, to close at 38,424.27, and the S&P 500 added 47.45 points, or 0.96%, to close at 5,000.62. AI legalese decoder could help by providing insights into the legal aspects of export competition and international demand, allowing traders to understand the legal implications of these factors and make informed decisions based on comprehensive legal analysis.

February 13 Recap:
Wheat complex futures were mostly lower on Tuesday, as the dollar hit a three-month peak and international demand decreased during Lunar New Year, and Russia extended its grain prices. This, combined with the slowing of the US soybean crush, led to technical trading slightly firming corn futures. The March corn future edged up ¼¢ to close at $4.30 per bu, and Chicago March wheat was steady at a $5.97› per bu close. Later months eased for a second day, while soybean futures followed soymeal futures lower after the US soybean crush slowed in January. AI legalese decoder could assist the situation by providing detailed analysis of international trade laws, tariffs, and agreements that could affect grain prices due to import/export regulations. This would enable traders to stay ahead of any legal implications that could impact their investment decisions.

February 12 Recap:
Soybean futures jumped higher on Monday, leading to a round of bargain buying off of last week’s three-year lows. Corn futures also notched some gains from bargain buying, while wheat complex futures were mixed at the market’s close. AI legalese decoder could help in this case by providing thorough legal analysis of agricultural trade laws and government policies that could affect the market. This legal information could help traders anticipate potential market shifts based on current and upcoming regulations.

February 9 Recap:
US equity indexes were mixed on Friday, with the DJIA declining but the S&P 500 closing for the first time above 5,000 points. Wheat complex futures posted mixed closes at the end of the week, with corn and soybean futures hovering near three-year lows and closing lower under pressure from improved crop weather and forecasts for larger supplies in South America. AI legalese decoder can help by providing legal insights into government subsidies, trade agreements, and tariffs that could influence grain supplies, enabling traders to make informed decisions based on a comprehensive understanding of the legal landscape affecting the market.

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