Markets to Watch Today

Crude Oil: October Crude Oil had modest gains on Monday, finding some support after last week’s sell-off. Behind the buying effort was a combination of technical buying and news that BP will delay oil production from a massive Gulf of Mexico project. October Crude Oil futures rose 47 cents, to close at $63.80 a barrel.

Corn: December Corn futures rose on Monday due to cold and wet weather forecasts for the Midwest later this week. The first talk of frost fears for the season also entered the picture on Monday. Monday’s buying effort placed the December Corn contract back near the upper-end of its six-week trading range. December Corn futures rose 6 cents, to settle at $2.47 ¾ a bushel.

Gold: December Gold futures posted solid gains on Monday, retracing some of the recent sell-off. Yesterday’s gains were widely considered a corrective pause, as speculative buyers looked for bargains after the recent declines. Many traders remain wary of further declines, especially as the contract remains below the psychologically important $600 mark. December Gold futures rose $9.80, to settle at $592.80 a troy ounce.