Cocoa And Coffee Surging
Cocoa is punching higher in one of its biggest up days of the year, moving higher after hitting multi-year lows on Nov. 17.
Coffee is bouncing back from a 10-day low and is getting a boost from dry weather in Brazil.
Oil-related energy contracts are down as much as 2.3% on Iraq’s announcement that it will extend its oil-for-food trade arrangement with the United Nations.
T-bonds fell more than one point on concerns over a weak dollar/yen and jitters that a manufacturing report Wednesday and employment report Friday will show higher inflation. The Bank Of Japan’s intervention in currency markets over the weekend to stem the rise of the yen has had only a limited, and traders say, temporary impact.
Gold and pork bellies are down sharply.
Here are the highlights around noon Eastern time:
Stock Index and Bond Futures•March T-bonds [USH0>USH0]: -29/32 to 92 25/32
•December S&Ps [SPZ9>SPZ9]: -2.4 to 1412.20
•December Dow futures [DJZ9>DJZ9]: -3.0 to 10,960
•December NASDAQ 100 futures [NDZ9>NDZ9]: -3.00 to 3118.00
Currencies
•December dollar index futures [DXZ9>DXZ9]: +.57 to 101.91
•December Japanese yen futures [JYZ9>JYZ9]: -.0060 to .9803
•December Swiss francs [SFZ9>SFZ9]: -.0047 to .6306
•December British pounds [BPZ9>BPZ9]: -.0038 to 1.6306
Energies•January crude [CLF0>CLF0]: -.62 to 26.26
•January unleaded gas [HUF0>HUF0]: -.0120 to .7195
•January heating oil [HOF0>HOF0]: -.0161 to .6775
•January natural gas [NGF0>NGF0]: +.045 to 2.375
Metals•February gold [GCG0>GCG0]: -6.6 to 295.2
Grains•January soybeans [SF0>SF0]: +7 1/4 to 470 1/2
•January soybean meal [SMF0>SMF0]: +1.7 to 145.6
Meats•February pork bellies [PBG0>PBG0]: -2.350 to 79.200
•February lean hogs [LHG0>LHG0]: -.500 to 56.800
•January live cattle [LCF0>LCF0]: -.925 to 69.925
Softs and Fibers•March cocoa [CCH0>CCH0]: +60 to 914
•March coffee [KCH0>KCH0]: +6.65 to 117.50