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Wednesday, July 26, 2006

Markets To Watch Today

Corn: As the price of Crude Oil contracts rise so does the demand for fuel alternatives. Among those alternatives is Corn for use in the manufacturing of Ethanol. The open interest on Corn contracts traded is up 77% over last year as of Monday, and the price of corn is up 11% this year at $2.3950 a bushel. Ethanol futures are up 25% year-to-date at $2.608 a gallon.

Copper: Supply concerns over the top producing Copper mine in Chile pushed prices up yesterday. September Copper contracts were up 7.90 cents, closing at $3.4610 per pound, and July Copper prices rose 5.50 cents, closing at $3.5385

Crude Oil: Threats of oil supply shortages are easing, as well as concerns over the conflict between Israel and the Hezbollah militia, causing prices in Crude Oil to drop. Yesterday's decline in prices is the largest in the last five trading sessions. The September contract closed down $1.30 at $73.75 a barrel.