Markets To Watch Today

Rice: An unapproved genetically modified rice was found in commercial supplies sending Rough Rice futures prices down yesterday. The typical seasonal pressure before the fall harvest, which is expected to produce better than anticipated yields, also attributed to falling prices. The September Rough Rice contract closed down 50 cents at $9.35.

Natural Gas: Recent tropical weather systems in the Gulf of Mexico and rising cash prices for gas deliveries pushed Natural Gas prices up 6% yesterday. The September Natural Gas contract settled up 38 cents, after reaching a high of $7.03, closing at $7.008 MMBtu.

Crude Oil: Analysts say Iran is not likely to restrict the export of oil, however they do believe that Tehran may play an important role in disrupting the market if the U.N. Security Council does impose sanctions. Prices were flat for most of the day, while traders waited for a response from six nations in ending Iran's efforts to build a nuclear power program. The September Crude Oil contract closed up 18 cents at $72.63 a barrel, and the October contract closed down 20 cents at $73.10 a barrel.