Brian Wittal’s daily market report

Equity markets were quieter today with limited trading. 

Grains were also quiet due mainly to the belief that the rally of the past two sessions was a little over done which prompted a small sell off in all three main grains, corn, beans and wheat. 

The US dollar gained back some ground climbing one-third of a cent today, which helped to reduce the talk of inflation for now. 

The Canadian dollar finished down three-quarters of a cent, closing at .9309 US.   

The Dow Jones Sept quote closed up 39 points at 9287.    

Crude oil held steady to mixed today with the nearby down $.16/b at US $71.42/ barrel. Forward months were up from .12c to .72c/b. 

Corn closed down 3 to 4 cents a bushel today.       

Beans ended mixed down 8.4 cents a bushel to up 6 cents a bushel today.     

Wheat closed down 4 to 10 cents a bushel on the various US exchanges. 

Minneapolis Sept wheat futures closed down 4.2 cents a bushel today.      

Canola –finished up strong as it played catch up with beans from yesterday. It closed up $18 to $22.30 per tonne from Friday.  

Barley closed down $1.10 per tonne at $152.90 a tonne.  

Continued concerns over lateness of the canola crop and fears of frost will help to keep futures at these current levels, but a larger than anticipated US bean crop (USDA report Aug 12) or a continued rise in the Canadian dollar are all factors that would drag futures lower if they should come to be.