Markets To Watch Today
Corn: The extreme heat and dryness recently in the Midwest is causing traders to be concerned about the possibility of lower corn yields, pushing prices upward. The September Corn contract closed up 6.75 cents at $2.4725 a bushel. The December Corn contract which represents the newest crop in Corn, also gained on the day, up 6.50 cents, closing at $2.6425 a bushel.
Crude Oil: As Tropical Storm Chris threatened to become a hurricane yesterday, which has the potential to hit the bulk of U.S. energy infrastructure in the Gulf of Mexico, prices in Crude Oil rose, reaching $76 a barrel. The September Crude Oil contract closed up 90 cents, at %75.81 a barrel.
Natural Gas: Natural Gas contracts gained back some of the losses they incurred earlier in the week, as the heat continued to swelter on the east coast. Analysts say that the heat forecast and storm track are what have been driving the markets. The September Natural Gas contact closed up 22.5 cents, at $7.799 MMBTu's.
Crude Oil: As Tropical Storm Chris threatened to become a hurricane yesterday, which has the potential to hit the bulk of U.S. energy infrastructure in the Gulf of Mexico, prices in Crude Oil rose, reaching $76 a barrel. The September Crude Oil contract closed up 90 cents, at %75.81 a barrel.
Natural Gas: Natural Gas contracts gained back some of the losses they incurred earlier in the week, as the heat continued to swelter on the east coast. Analysts say that the heat forecast and storm track are what have been driving the markets. The September Natural Gas contact closed up 22.5 cents, at $7.799 MMBTu's.
posted by XPRESSTRADE, LLC at 8/03/2006 06:22:00 AM
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