Financial markets lost their momentum today and finished mixed to down.
The US dollar gained back a third of a cent today.
The Canadian dollar was down a full cent today to close at .9078 US.
Down 1.5 cents from last week’s close.
The Dow Jones Sept quote closed down at 9318. Down 7 points from last week.
Crude oil was down $3.01 a barrel today to close at $67.51 a barrel US. Down $3.42 a barrel from last week
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Corn finished down 3 to 6 cents a bushel today. Down 3 cents a bushel from last week.
Beans ended down 19 cents a barrel to 41 cents a barrel today. Down 66 cents a barrel this week.
Wheat was mixed, closing down 2 cents a barrel to up 1 cents a barrel on the various US exchanges.
Minneapolis Sept wheat futures closed down 1.2 cents a barrel today. Down 25 cents a barrel for the week.
Canola finished down $8.00 to $10.00 a tonne today. Up $2.50 a tonne from last week.
Barley closed up $7.40 a tonne today at $137.50 a tonne. Down $.50 a tonne from last week.
A quite day on the markets with no real news to help inspire traders led to a down day in the financial markets which carried over into the grains as well. With the USDA report being somewhat of a non event and then poor weekly export inspection numbers yesterday markets were in the mood to slide lower heading into the weekend. Fresh buying or a change in the weather is what will be needed to pull grains out of this slump in the short term.
Over cast and showers in Central Alberta and snow in the mountains.
Mother Nature has a sense of humor but right now no one else is laughing.
Let’s hope next weeks weather is a little friendlier.
That’s all for this week.
Brian
