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Thursday, March 23, 2006

Markets To Watch Today

Soybeans: Soybeans made a slight gain yesterday as speculative buyers acted on concerns of a reduced Brazilian crop estimate. Sellers dominated the overnight market. May Soybeans closed at 575.25 in overnight trading.


Crude Oil: Crude Oil inventories suffered a small draw down, to the tune of 1.3 million barrels. This was not enough of a drain to prevent a massive selloff in Gasoline to drag the price down. Both contracts are trading higher on the overnight. May Crude Oil is trading at 62.44 as of 8:17 am CST.


Market Info: NYMEX has seen its value rise nearly 75%, to $5.6 billion during pre-IPO trading. NYMEX members were issued 90,000 share per seat and are allowed to trade those shares prior to the IPO. A seat on the exchange last traded for $3.9 million on March 13.