Here’s What’s In Free Fall
In the lowest close in over three months,
April crude oil fell $1.21 to $27.40. The war against Iraq is going well for the
US as the "shock and awe" aspect of the campaign began. Southern Iraq and the
Persian Gulf ports are under US control. The US said that the release of emergency
reserves of oil will not be necessary and Venezuela seems to be recovering its
production.
Gold also made a three-month low, with April gold closing at 326.10.
The Citrus Industry Exporters Association said that due to citrus sudden
death disease, 85% of the largest orange grove in Sao Paulo, Brazil, will have to
be destroyed and replanted. Brazil is a large producer of oranges and orange
juice. April OJ closed at 85.85, down .50.
The forecast next week calls for above-average temperatures on the Atlantic
coast and below average temperatures in the Central Plains. May natural gas fell
.123 to close at 5.148.
Bonds fell again, with the June contract closing at 109-22 and 10-year Notes
at 112-210.
The E-minis finished up eight straight days, a record last put together in
1996. The minis closed up 18.50, at 893.25.