Markets To Watch

Crude Oil: December Crude Oil contracts are trading slightly lower in the overnight session. Continuing doubts that OPEC members will fully implement planned production cuts are weighing on the contract. The cuts are scheduled to begin on November 1. There has also been a lack of recent geopolitical concerns to affect prices, and the weather forecast for much of the U.S. continues to be mild. In the meantime, Crude Oil futures continue to trade close to the $60 a barrel mark. December Crude Oil futures are currently trading down 90 cents at $59.85 a barrel.

Soybeans: November Soybeans continued Friday’s strength in the overnight session. Friday saw Soybeans close at their highest level since January 5th, supported by both speculative and fund buying. November Soybeans ended Friday up 7 3/4 cents, to settle at $635.50 a bushel. Rain over the weekend continued to slow harvest progress in Indiana and Ohio. However, the rest of the Midwest remained dry, and forecasts are good for the upcoming week. November Soybeans ended the overnight session up 5 cents at $640.50 a bushel.

S&P: December S&P 500 futures are trading lower in early trading. Traders are showing concern over the health of the economy. These concerns were amplified after Wal-Mart Stores Inc., the world’s biggest retailer, reported their smallest monthly sales gain in two years. These numbers missed expectations, and have given traders a reason to continue Friday’s weakness after disappointing GDP data. Friday saw December S&P futures fall 8.10 points, to settle at 1384.80. December S&P 500 futures are trading down 3.50 at 1381.30 in pre-market trading.