Corn, wheat and soy complex futures declined Friday as beneficial rainfall soaked much of the Corn Belt and winter wheat growing region, which could benefit the late-developing soybean crop and improve winter wheat prospects. Talk of big corn yields also added pressured to prices. Chicago December wheat fell 10¾c, closing at $6.46¼ a bu, Kansas City December dropped 9¼c, closing at $6.92¾ a bu, and Minneapolis December lost 8¾c, closing at $6.99¾ a bu. December corn futures fell 8½c, closing at $4.51 a bu. November soybeans lost 24¼c, closing at $13.15¼ a bu. October soybean meal fell $8.20, closing at $413.40 a ton. October soybean oil dropped 0.62c, closing at 42.09c a lb.
Major U.S. stock indexes tumbled Friday in a selloff after stocks hit record highs Wednesday when the Federal Reserve voted to keep its stimulative monetary policy intact for now. Remarks Friday by Fed officials cast doubt on the length of time before the Fed begins to taper its bond-buying program. The Dow Jones Industrial Average lost more than 185 points, closing at 15,451.09. The Standard & Poor’s 500 Index fell more than 12 points, closing at 1709.91. The Nasdaq Composite Index fell about 15 points, closing at 3,774.73.
The value of the U.S. dollar against the euro was higher Friday.
Crude oil futures declined sharply Friday as market participants took profits amid easing concerns over Middle East supply disruptions. The October contract, which expired at the end of the session, lost $1.72, closing at $104.67 a barrel.
Gold futures fell as comments by Federal Reserve officials caused the market to reconsider the possible duration of the Fed’s stimulative bond-buying program. The October contract fell $36.90, settling at $1,332.60.
Major U.S. stock indexes tumbled Friday in a selloff after stocks hit record highs Wednesday when the Federal Reserve voted to keep its stimulative monetary policy intact for now. Remarks Friday by Fed officials cast doubt on the length of time before the Fed begins to taper its bond-buying program. The Dow Jones Industrial Average lost more than 185 points, closing at 15,451.09. The Standard & Poor’s 500 Index fell more than 12 points, closing at 1709.91. The Nasdaq Composite Index fell about 15 points, closing at 3,774.73.
The value of the U.S. dollar against the euro was higher Friday.
Crude oil futures declined sharply Friday as market participants took profits amid easing concerns over Middle East supply disruptions. The October contract, which expired at the end of the session, lost $1.72, closing at $104.67 a barrel.
Gold futures fell as comments by Federal Reserve officials caused the market to reconsider the possible duration of the Fed’s stimulative bond-buying program. The October contract fell $36.90, settling at $1,332.60.
