Markets To Watch Today

Wheat: Prices for the Minneapolis Spring Wheat contract struggled yesterday, as traders took advantage of recent high prices due to the extreme dryness of the Midwest region of the country. The limited precipitation is not offering enough relief and many of the Spring Wheat fields are still suffering. The July Spring Wheat contract dropped 30 cents, closing at $5.08 a bushel.

Natural Gas: Anticipation of the late summer hurricane season and higher temperatures pushed Natural Gas prices up yesterday. Following the release data reporting a larger than expected gas storage build, Natural Gas fell as low as $5.72/per million British Thermal Units, but rallied back to settle 34.7 cents up, at $6.129/MMBtu's.

Crude Oil: Increased tensions in the Middle East pushed prices in Crude Oil up above the $76 a barrel mark yesterday. Analysts say prices will reach $80 a barrel, and will most likely hit $90 a barrel. Between the strong demand for gasoline and U.S. global political tensions, Crude prices have jumped nearly 12% in the last 3 weeks and 26% overall this year. The August Crude Oil contract ended trading yesterday up $1.75 at $76.70 a barrel.