Recap for March 22

• US gold futures were sharply higher Thursday, hitting an all-time high as investors looked for opportunities to diversify after the Federal Reserve stated its commitment, recently, to cutting interest rates later this year. The April contract soared $23.70 to close at $2,184.70 per oz.

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• Soybean futures climbed to two-month highs Thursday in short-covering moves and on concerns about ArgentinaÔÇÖs crop prospects after a deluge of rain and hail there this week. Corn futures traded choppily Thursday but pulled higher by the close in technical buying and pre-report short-covering that offset pressure from farmer selling of old-crop supplies. Wheat complex futures followed corn and soybeans higher. May corn added 1┬¥┬ó to close at $4.40┬¥ per bu. Chicago May wheat rose 1┬¥┬ó to close at $5.46┬¥ per bu. Kansas City May wheat added 1┬╝┬ó and closed at $5.81┬¥ per bu. Minneapolis May wheat added 1┬¢┬ó and closed at $6.56┬¢ per bu. May soybeans climbed 2┬¢┬ó to close at $12.12 per bu. May soybean meal added $1.80 to close at $344.30 per ton. May soybean oil fell 0.21┬ó to close at 48.79┬ó a lb.

• The three major US equity indexes, as well European and Japanese stock indices, notched record highs Thursday on investor ideas that a period of soaring borrowing costs after the pandemic is drawing to a close. The Dow Jones Industrial Average rose 269.24 points, or 0.68%, to close at 39,781.37. The Standard & PoorÔÇÖs 500 added 16.91 points, or 0.32%, to close at 5,241.53. The Nasdaq Composite added 32.43 points, or 0.2%, to close at 16,401.84.

• US crude oil prices were lower Thursday. The May West Texas Intermediate light, sweet crude future fell 20┬ó to close at $81.07 per barrel.

• The US dollar index closed higher Thursday.

Recap for March 20

• Soybean futures jumped 2% Wednesday on bargain buying, pre-report positioning and USDAÔÇÖs flash of a 120,000-tonne sale to unknown destinations. Wheat futures capped a two-day climb, easing Wednesday under pressure from a US dollar that strengthened most of the session and plentiful supplies in the Black Sea region. Corn futures were mixed, the prompt month declining in spillover weakness from wheat futures, but later months were mostly higher as excessive rains raised concerns about production prospects in Argentina. May corn eased ┬¢┬ó to close at $4.39 per bu; July was unchanged and later months were firmer. Chicago May wheat fell 7┬¢┬ó to close at $5.45 per bu. Kansas City May wheat dropped 2┬╝┬ó and closed at $5.80┬¢ per bu. Minneapolis May wheat shed ┬¥┬ó and closed at $6.55 per bu. May soybeans soared 24┬ó to close at $12.09┬¢ per bu. May soybean meal added $8.60 to close at $342.50 per ton. May soybean oil added 0.86┬ó to close at 49┬ó a lb.