Corn closes at 2-week low
Corn prices fell on Thursday, as the US dollar rallied against its peers, amid mounting fears about the coronavirus, which weighs down on demand.
Climate improved in several countries, such as the US, Russia, and Brazil, which improves crop quality and increase supply, and pushes prices down.
The US Department of Agriculture reported selling 2.244 million tonnes of corn last week, beating forecasts of between 700K and 1.5 million tonnes.
The dollar index rose against a basket of currencies by 0.7% to 94.03 points as of 21:56 GMT, after it hit a high of 94.1 and a low of 93.3.
Corn December futures fell 1.1% to close at a 2-week low of $3.98 per bushel, after hitting a high of $4.04 and a low of $3.93.
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Sterling falls despite news of progress in Brexit talks
The British pound fell against the US dollar on Thursday, despite progress in the EU-UK Brexit talks.
Sterling was weighed down as the coronavirus crisis continued to escalate, after a spike of infections in some European countries, in many countries around the world, especially in Europe.
To curb the coronavirus spread, the French government announced yesterday a full lockdown starting Friday for a month, and the German government ordered to close bars, theaters, and restaurants, from November 2 until the end of the month.
Bloomberg reported sources saying that progress has been made in the Brexit negotiations between London and Brussels, which raised hopes that a trade deal can be secured by November.
GBP/USD fell 0.4% to 1.2934 as of 20:57 GMT, the pair hit an intraday high of 1.3026 and a low of 1.2881.
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Silver closes flat after yesterday's loss
Silver prices held steadily on Thursday, and shrugged off the US dollar's rise against most of its peers, after the release of upbeat economic data.
The US Department of Labor reported today that the unemployment claims fell 40,000 to 751,000 during the past week.
While the advanced reading for the US GDP showed growth by 33.1% during the third quarter.
The dollar index rose against a basket of currencies by 0.7% to 94.03 points as of 21:34 GMT, after it hit a high of 94.1 and a low of 93.3.
Silver December futures settled at $24.36 an ounce, after closing lower by 4.9% yesterday, with today's high at $23.650 and the low at $22.625.
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US stocks close higher, after strong growth data
The major US stock indices rose on Thursday, after the release of strong economic data that showed growth in GDP and a drop in the unemployment claims.
The US Department of Labor reported today that the unemployment claims fell 40,000 to 751,000 during the past week.
While the advanced reading for the US GDP showed growth by 33.1% during the third quarter.
Otherwise, the rising number of Covid-19 infections has forced some governments around the world to re-impose lockdown restrictions to curb the deadly pandemic.
To the oil market, WTI crude December futures at Nymex fell 3.9% or $1.22, and closed at $36.17 a barrel, after hitting a day high of $37.7 and a low of $34.9.
Brent October futures fell 3.5% or $1.38, to $38.26 a barrel, with a high of $39.4 and a low of $36.6.
As for stocks, Dow Jones rose 0.5% or 139 points, and closed at 26, 659 points, after it hit a day high of 26,891, and a low of 26,290 points.
Nasdaq rose 1.6% or 180 points, to 11,185 points, with a high of 11,287 and a low of 11,030 points.
S&P 500 rose 1.2% or 39 points, to 3,310 points, after hitting a high of 3,390 points and a low of 3,259 points.
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