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Thursday, September 21, 2006

Markets to Watch Today

Crude Oil: October Crude Oil extended losses on Wednesday, as prices dropped below $61 a barrel. Supply data from the Energy Department were behind yet another day of declines. Crude supplies fell 2.8 million barrels to 324.9 million for the week ending September 15. This drop is still well above the five-year average. The October Crude Oil contract fell $1.20, to settle at $60.46 a barrel.

Wheat: December Wheat futures fell slightly on Wednesday, taking back some of Tuesday’s gains. A lack of fresh news and profit-taking were attributed to yesterday’s decline. CBOT December Wheat fell 1 ¼ cents, to settle at $4.07 ¾ a bushel.

Gold: December Gold futures rose on Wednesday, as traders positioned themselves for the Fed Decision. The Federal Reserve later kept interest rates unchanged for the second straight time. December Gold gained $3 to settle at $586.20 a troy ounce.