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World Busy While NA on Break
VANCOUVER - Jul 4/06 - SNS -- Agricultural commodity markets are relatively busy. It is business as usual for traders outside North America, while many in Canada and the United States enjoy a long, four day weekend.
Canada was closed yesterday as part of its Canada Day celebrations, while the United States is closed today for Independence Day celebrations. Many traders in both countries were off work yesterday and some in Canada have remained away from their desks today because of the U.S. closure.
North American futures markets finished yesterday worried about threatening weather forecasts for the western Corn Belt as it goes into pollination. This past weekend's weather was drier than expected and the forecast into next week still shows a hot and dry ridging pattern over the eastern plains and western Corn Belt.
Whether the western Corn Belt will stay relatively dry through the 14th of the month and beyond is still uncertain.
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