What Sparked Futures Monday
The economic outlook got a boost when
Wal-Mart
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the futures out of the gate, but the rally was hampered by the weaker-than-expected ISM index of manufacturing for November. The number came in at 49.2. The December S&P 500
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Dec.
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1127.50 up 11.00.
With the early session rally in equities,
Treasuries retreated to the downside, but on the ISM data,
the downtrend was reversed and the Treasuries ended mixed. The March. 10 year T-notes
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Energy
Crude oil moved up higher today on news that Venezuelan oil workers are
striking to get rid of President Chavez. Jan. crude oil
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.34 cents or 1.26% to $27.73 a barrel.
Jan. unleaded
gasoline
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and Jan. heating oil
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gallon.
Jan. natural gas
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higher with a 6 to 10 day forecast of below-average temperatures for most of the
U.S. Natural gas closed at .11 or 2.62% to 4.30
Meats
Both Feb. hogs and cattle continued their moves to the upside.
February hogs
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Feb. cattle
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Grains
At the Chicago Board Of Trade (CBOT),
Jan. soybeans
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that northern Brazil has been hot and dry, while much of southern Brazil has
been too wet for planting. The news didn’t stick with the trading however and
soybeans ended closing in the red, down .25 of a cent at $5.78 1/2 a bushel. Last
week’s export inspections were above estimates again for soybeans at 28.5
million bushels. Jan soybean oil
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22.40 support level before closing at at 22.39 down .38 or 1.67%.
Jan. soy meal
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Wheat inspections were strong at 21.2 million
bushels, and corn inspections were below their estimated pace at 33.8 million
bushels.
March
corn
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March wheat futures
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Foods
Ivory Coast government forces attacked the city of
Man, the home of coffee and cocoa plantations, trying to recapture what was
recently lost to the rebels. March cocoa
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2.57% to $1,753. March coffee
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March sugar
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last Wednesday’s USDA report predicted a 2 million ton drop in ending stocks
next year. March sugar closed at 7.67 a gain of .25 or 3.36%.
Metals
In the metals, Feb. gold
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rose .30 cents to $318.80 a troy
ounce and Mar. silver
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March. copper
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rose .70 to 76.45, encouraged by the positive retail reports.