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It was a quiet day over all as outside financial markets in China and Japan showed some weakness overnight and that carried over into the U.S. markets today.
It was a lack luster day for equity, energy and currency markets today so the grains had no real clear sign or reason to do much of anything, so they didn’t.
The Dow Jones closed down 83 points today.
The U.S. dollar finished up one tenth of a cent today.
The Canadian dollar was also up a tenth of a cent today to close at US$.8091.
Crude oil finished up US$.30, closing at $46.85/barrel for the day.
Corn finished unchanged today, beans were up eight to down 11 cents per bushel today, and wheat closed up five to 20 cents per bushel.
Canola is unchanged for the day, and barley finished up $3.50 per tonne closing at $135.00 per tonne.
No further news of new exports sales kept the oilseed markets flat for the most part. Traders are starting to focus on weather and seeding concerns and that is why we saw the rally by wheat today as forecasts for rain in the Northern Plains region are fuelling late-seeding concerns.
Barley futures climbed nicely today in anticipation of this Friday’s Statistics Canada seeded acreage report that is expected to show a decline in barley acres for this spring.
We are experiencing snow flurries in the Calgary region today and possibly tomorrow as well. We aren’t getting an early start on seeding here by any means. Hope your weather is better than ours!