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Wednesday, June 28, 2006

Markets To Watch Today

Wheat: The U.S. Agriculture department reported worsening conditions in the Northern Plains. This resulted in Hard Red Spring Wheat futures contracts rallying yesterday at the Minneapolis Grain Exchange. July Wheat was up 11.25 cents per bushel, closing at $4.8175. September Wheat, which is the upcoming harvest contract, was up 9.75 cents, to close at $4.8450.

Copper: Selling pressure brought on by softer equities resulted in High Grade Copper Futures prices falling yesterday. Front month July Copper fell 13.70 cents, closing at $3.1870 per pound.

Energies: With the Fourth of July around the corner, Gasoline futures prices are poised to hit record numbers in the strongest-ever travel season. Oil analysts say that they are expecting gasoline deliveries to hit a record high of 9.721 barrels a day, a record that was set last year. The strong demand has already resulted in rising prices in Gasoline futures, which reached prices not seen since last August. July Unleaded Gasoline was up 1.97 cents, to close at $2.10 a gallon. August Crude Oil contracts closed up 12 cents, at $71.92.