Markets to Watch Today
Crude-Oil: Crude-Oil futures traded in choppy fashion on Thursday, as traders kept an eye on the nuclear stand-off with Iran. Also contributing to the volatility were the labor tensions in Nigeria and the upcoming holiday weekend in the United States. Crude futures ended the day slightly higher. The October contract settled up 23 cents at $70.26 a barrel.
Wheat: Wheat futures rose again, as traders worry about global supplies. Over the past week, Wheat futures have risen 7.6%. Bulls are finding support from quality concerns of the global Wheat crop. A July heat wave and heavy August rains are slowing harvest in several European countries. A lack of rain in Australia, Argentina, and the United States compound these concerns. September Wheat futures settled up 6.5 cents at $4.04 a bushel.
Copper: Copper futures rose, as the market found technical support. This technical buying overshadowed news that the labor strike at the world’s largest copper mine, Chile’s Escondida, had come to a provisional settlement. This settlement threatens to end the 25-day strike. September Copper futures settled up 10.4 cents at $3.469 a pound.
Wheat: Wheat futures rose again, as traders worry about global supplies. Over the past week, Wheat futures have risen 7.6%. Bulls are finding support from quality concerns of the global Wheat crop. A July heat wave and heavy August rains are slowing harvest in several European countries. A lack of rain in Australia, Argentina, and the United States compound these concerns. September Wheat futures settled up 6.5 cents at $4.04 a bushel.
Copper: Copper futures rose, as the market found technical support. This technical buying overshadowed news that the labor strike at the world’s largest copper mine, Chile’s Escondida, had come to a provisional settlement. This settlement threatens to end the 25-day strike. September Copper futures settled up 10.4 cents at $3.469 a pound.
posted by XPRESSTRADE, LLC at 9/01/2006 06:18:00 AM
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