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Wednesday, July 12, 2006

Markets To Watch Today

Wheat: A report yesterday from the Agriculture Department said that 27% of the spring wheat crop is in either poor or very poor conditions in the Northern Plains region of the country, pushing prices up to 10 year highs. July Wheat was up 9 cents, closing at $5.40 a bushel. The September Wheat contract was up 10.75 cents, settling at $5.3150 a bushel.

Crude Oil: For the first time in the last 4 sessions, Crude Oil futures ended the day higher, as renewed worries surface about Iran's nuclear program. August Crude Oil closed 55 cents higher at $74.16 a barrel.

Copper: Tight supplies and concerns over a potential strike at a Chilean producer pushed Copper prices upward in yesterday's trading. Adding to the rise in prices is the strength in other metals, specifically, Gold, Silver and Nickel, analysts stated. The September Copper contract was up 5.25 cents, closing at $3.6350 per pound, while July Copper contracts closed up 4.55 cents, at $3.7225