USDA Calls for Higher Farm Incomes on Bigger Government Payouts — Market Talk

Front Month Comex Silver for February delivery gained 20.70 cents per troy ounce, or 0.64% to $32.335 this week

• Up for three consecutive weeks
• Up $1.384 or 4.47% over the last three weeks
• Largest three week net and percentage gain since the week ending Jan. 10, 2025
• Up five of the past six weeks
• Today it is down 18.30 cents or 0.56%
• Down for three consecutive sessions
• Down 55.30 cents or 1.68% over the last three sessions
• Largest three day dollar and percentage decline since Monday, Jan. 27, 2025
• Today's settlement value is the sixth highest this year
• Lowest settlement value since Friday, Jan. 31, 2025
• Off 7.17% from its 52-week high of $34.831 hit Tuesday, Oct. 22, 2024
• Up 46.34% from its 52-week low of $22.096 hit Tuesday, Feb. 13, 2024
• Rose 43.53% from 52 weeks ago
• Off 1.68% from its 2025 settlement high of $32.888 hit Tuesday, Feb. 4, 2025
• Up 9.16% from its 2025 settlement low of $29.622 hit Thursday, Jan. 2, 2025
• Off 33.60% from its record high of $48.70 hit Thursday, Jan. 17, 1980
• Year-to-date it is up $3.395 or 11.73%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data, FactSet

Front Month Comex Gold for February delivery gained $54.80 per troy ounce, or 1.95%(rounded) to $2867.30 this week

• Largest one week net and percentage gain since the week ending Jan. 10, 2025
• Up for six consecutive weeks
• Up $250.10 or 9.56% over the last six weeks
• Largest six week gain since the week ending April 12, 2024
• Largest six week percentage gain since the week ending April 19, 2024
• Longest winning streak since the week ending Oct. 25, 2024, when the market rose for seven straight weeks
• Today it is up $11.30 or 0.40%
• Second highest close in history
• Up seven of the past nine sessions
• Today's settlement value is the second highest this year
• Off 0.15% from its 52-week high of $2871.60 hit Wednesday, Feb. 5, 2025
• Up 44.06% from its 52-week low of $1990.30 hit Wednesday, Feb. 14, 2024
• Rose 41.71% from 52 weeks ago
• Off 0.15% from its 2025 settlement high of $2871.60 hit Wednesday, Feb. 5, 2025
• Up 8.68% from its 2025 settlement low of $2638.40 hit Monday, Jan. 6, 2025
• Off 0.15% from its record high of $2871.60 hit Wednesday, Feb. 5, 2025
• Year-to-date it is up $238.10 or 9.06%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data, FactSet

Front Month Comex Copper for February delivery gained 31.95 cents per pound, or 7.50% to $4.5815 this week

• Largest one week net and percentage gain since the week ending May 17, 2024
• Snaps a two week losing streak
• Today it is up 12.80 cents or 2.87%
• Largest one day dollar and percentage gain since Thursday, Nov. 7, 2024
• Up for five consecutive sessions
• Up 31.95 cents or 7.50% over the last five sessions
• Largest five day dollar and percentage gain since Friday, July 5, 2024
• Longest winning streak since Thursday, Jan. 9, 2025, when the market rose for six straight sessions
• Up eight of the past nine sessions
• Highest settlement value since Wednesday, Oct. 2, 2024
• Off 10.50% from its 52-week high of $5.119 hit Tuesday, May 21, 2024
• Up 24.29% from its 52-week low of $3.686 hit Friday, Feb. 9, 2024
• Rose 24.29% from 52 weeks ago
• Up 14.87% from its 2025 settlement low of $3.9885 hit Thursday, Jan. 2, 2025
• Off 10.50% from its record high of $5.119 hit Tuesday, May 21, 2024
• Year-to-date it is up 59.55 cents or 14.94%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data, FactSet

With the weekend approaching, grain traders are selling CBOT grain futures in afternoon trade--this after President Trump told reporters at the White House that new "reciprocal" tariffs were planned to be announced next week. Trump did not say what countries would be targeted with these tariffs--but in grains, traders are selling to pare their risk. "The U.S. news cycle has dramatically changed with President Trump," says AgResource in a note. "There is no natural end to the workweek, and President Trump is willing to make announcements at any time." Most-active corn is down 1.6%, while soybeans are down 1.1% and wheat falls 1.1%. (kirk.maltais@wsj.com)

Energy stocks rose Friday afternoon with the NYSE Energy Sector Index up 0.6% and the Energy Select Sector SPDR Fund (XLE) adding 0.7%.

The Philadelphia Oil Service Sector index gained 0.9%, and the Dow Jones US Utilities index eased 0.1%.

West Texas Intermediate crude oil rose 0.5% to $70.99 a barrel, while global benchmark Brent crude advanced 0.6% to $74.72 a barrel. Henry Hub natural gas futures fell 2.4% to $3.325 per 1 million BTU.

In corporate news, Chevron is expediting the expansion of the Tengiz oilfield in Kazakhstan, which started in January, Reuters reported. Chevron shares rose 1.2%.

Prairie Operating agreed to acquire some assets from Bayswater Exploration and Production for $603 million in cash and stock. Prairie also launched a $200 million underwritten public offering of common stock. Prairie shares fell 23%.

Centrus Energy shares jumped 33%, a day after the company posted Q4 adjusted earnings and revenue that topped expectations by analysts.

The Department of Transportation has suspended a $5 billion federal program designed to help fund electric vehicle charging infrastructure across the U.S., according to a letter Thursday to state transportation officials.

The DOT's letter said the Federal Highway Administration will update the program and publish it for public comment in the spring.

The National Electric Vehicle Infrastructure Formula Program provides funds to the states for grants of up to 80% of the cost of EV charging infrastructure projects. An OPIS analysis has shown that more than half of the projects involved chargers at retail fuel stations.

"The new leadership of the Department of Transportation has decided to review the policies underlying the implementation of the NEVI Formula Program," wrote Emily Biondi, associate administrator of the Office of Planning, Environment and Realty. "The Federal Highway Administration is updating the NEVI Formula Program Guidance to align with current U.S. DOT policy and priorities."

NATSO represents truck stops and travel centers, and its public affairs staff also lobbies on behalf of SIGMA, a trade group for some of the nation's largest fuel retailers. While many of NATSO's members have tapped NEVI to diversify into EV charging, the trade organization believes the program needs improvement. "The NEVI program has in many states helped catalyze existing gas stations and truck stops to install fast, state-of-the-art EV charging stations. In other states, NEVI has been implemented poorly, with chargers either still not built or, if they are, they're in places nobody wants to stop," wrote David Fialkov, executive vice president of government affairs for NATSO.

"We are encouraged that the Trump administration is reevaluating rather than abandoning the NEVI program and intend to work closely with them to share our experience and keep what's been working, while reconsidering clearly unproductive approaches," Fialkov said.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

• Reporting by Donna Harris, dharris@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com