Spring wheat futures dropped to two-month lows after Canada's harvest of the high-protein type was seen falling less than investors had expected – in a report which proved more supportive of canola values.
New York Mercantile Exchange (COMEX) Gold prices eased from an eleventh-month high on Wednesday, following a rebound in the dollar, after a duo of better-than-expected reports on private job creation and economic growth raised expectations of a rate hike later this year.
Chicago Mercantile Exchange (CME) United States Treasury prices were on offer in lightened trade Wednesday, ending mildly lowers with the five-year taking the most heat while the long bond outperformed.
New York Mercantile Exchange (NYMEX) Gasoline and oil prices continued to diverge on Wednesday, as Tropical Storm Harvey dumped more rain along the Gulf Coast and forced the full shutdown of the nation's largest refinery.
Foreign Exchange Market (Forex): The dollar continued its comeback from a two-and-a-half-year slump, buoyed by a pair of economic reports that topped economists' forecasts, raising investor expectations for solid third-quarter economic growth.
In the week ending August 26, the advance figure for seasonally adjusted initial claims was 236,000, an increase of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 234,000 to 235,000.
Soybeans are one of the only grain markets which has seen a price rally over the last month and even though the market has now turned their short-term trends down, the market has been able to maintain most of their gains seen over the last few weeks.