No Surprises From Greenspan
Alan Greenspan said the
economy is on a reasonably firm footing, and underlying inflation
remains contained. The September 10 year T-notes closed at 113 20/32, down 2/32,
and the December eurodollars finished lower 0.045 at 96.115.
Tropical Storm Arlene pushed the October sugar to the highest close in over two
months. It ended at 9.00, up 0.09. Sugar was not the only one affected by this
storm. July Orange juice was up 2.90 at 96.15, the highest close in a month.
Although consumer confidence in Japan increased in May, the September yen
finished down 0.0025 at 0.9393.
According to Dow Jones Newswire, Brazil’s coffee harvest was slightly behind the
last year’s pace. July coffee lost 5 cents at 1.1640.
The USDA said that Japan bought 40,000 tons of wheat from the U.S. and 61,000
tons from Australia. U.S wheat exports were lower 64% from one year ago. July
wheat closed at 3.142, up a penny.
September crude oil staged a recovery rally and finished at 56.27, up 1.63.