Markets To Watch

Crude Oil: December Crude Oil contracts are trading lower, as mild U.S. weather continues to reduce demand for heating fuel. Heating demand is expected to be 35% below normal this week in the U.S. Northeast. Supply remains high for Crude Oil, despite recent production cuts from OPEC, who is considering additional cuts. Any additional production cuts for OPEC will be decided during the December meeting. Crude Oil futures are trading back below $60 a barrel, but have not been able to make a serious move away from the psychologically important mark. December Crude Oil futures are currently trading down 70 cents at $58.89 a barrel.

Corn: December Corn futures ended the overnight session higher. This morning’s gains have erased Friday’s losses. Friday saw December Corn futures from the CBOT end the session lower by 6.75, to settle at $343.25 a bushel. Trading was quiet on Friday, as many traders took a long weekend for the Veteran’s Day holiday. December Corn on the eCBOT ended the overnight session up 6.75 at $350.00 a bushel.

S&P: December S&P 500 futures are trading relatively flat in early trading. Friday saw S&P futures finish up for both the day and week. December S&P 500 futures ended Friday up 0.80, to settle at 1384.80, gaining more than 1% on the week. Exxon Mobil Corp, the world’s largest oil exporter, is trading lower due to declines in the price of Crude Oil. Economic Data is light for today, with only the Treasury Budget report due out this afternoon. December S&P 500 futures are trading down 1.00 at 1383.80 in pre-market trading.