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Tuesday, June 13, 2006

Markets To Watch Today

Crude Oil: Concerns that Tropical Depression Alberto would turn into a Storm or Hurricane lifted prices last Friday in oil as speculators panicked. Most of those gains from last week were washed away on Monday as Tropical Storm Alberto missed any oil and gas production platforms and as Energy companies operating in the Gulf of Mexico said the storm had no impact on production. July Crude closed at $70.36 a barrel, down $1.27.

Grains: Most of the grains, including corn and soybean futures experienced a rise in prices yesterday on forecasts of hot and dry conditions in the grain growing regions of the Midwest over the next couple of weeks. Front month, July, corn rose 5.5 cents to close at $2.475 per bushel and December corn, which represents fall harvest, rose 5.75 cents, closing at $2.735. July Soybeans rose 14.25 cents to close at $6 a bushel and November soybeans, which represents the next crop, rose 13.5 cents, closing at $6.29

Lumber: Hurricane warnings resulted in rising prices in lumber yesterday, imposing the daily price limit. Front month July gained $10 to close at $306.80 per 1,000 board feet.