Soybeans And Coffee Fall Again Along With South American Rains
Soybeans are trading at a four-month low on news that rains have soaked up to 70% of the principal growing regions in the second largest exporting nation, Brazil. From the Implosion-5 List, soybean oil is also under pressure and trading at a four-month low.
The outlook for a better coffee crop is also being affected by the beneficial rains in South America, sending nearby futures down 2.5.
Heating oil is making good on its Turtle Soup Plus One Buy set up above .6240, the old 20-day low.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•March T-bonds [USH0>USH0]: -3/32 to 94 18/32
•March S&Ps [SPH0>SPH0]: +3.00 to 1438.00
•March Dow futures [DJH0>DJH0]: -7.00 to 11365
•March NASDAQ 100 futures [NDH0>NDH0]: +27 to 3282.00
Currencies
•March dollar index futures [DXH0>DXH0]: +.11 to 101.42
•Japanese yen futures [JYH0>JYH0]: -.0088 to .9833
Energies•January crude [CLF0>CLF0]: +.20 to 25.43
•January unleaded gas [HUF0>HUF0]: +.0062 to .6905
•January heating oil [HOF0>HOF0]: +.0119 to .6435
Grains•January soybeans [SF0>SF0]: -11 1/4 to 449 3/4
•January soybean oil [BOF0>BOF0]: -.25 to 15.57
•January soybean meal [SMF0>SMF0]: -3.1 to 143.1
Softs and Fibers•March cocoa [CCH0>CCZ9H0]: -21 to 853
•March coffee [KCH0>KCH0]: -3.25 to 123.73