Oils Heat Up As Cold Hits
Marc Dupee will be out of the
office until October 10. In his absence, this column is being written by
TradersWire’s Duke Heberlein.
Energies staged an across-the-board rally Monday in light
trading, aided by the escalating tensions between Israel and Palestinian
protestors and a cold front that hit the Northeastern U.S, with crude oil
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jumping up $1 per barrel to 31.86. November
heating oil
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gripped the tri-state region surrounding the New York area. Unleaded gasoline
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and natural gas
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Stock index futures
exhibited further weakness due to earnings fears, but did come up from their
lows of the session. Dow futures
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11.50 to 3346 and the December S&P futures
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1416.50.
Corn
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the day, closing 1 3/4 to the downside at 201 1/2. December wheat
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managed to gain 3/4 to 267 1/4, despite fundamental pressure on all grains, as
warmer and drier weather throughout the grain production areas is expected to
increase the rate of harvest. November soybeans
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sister products of soymeal
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(down 1.0 at 166.90) and December soybean oil
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15.4300) were in the negative as well.
December cocoa
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following its recent spike upward, retreating 15 to 815. Other softs enjoyed an
up day of trading, with coffee
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juice
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up .65 to 64.80 on expectations of the USDA cutting cotton production in the
U.S.
Meats were mixed with October live cattle
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feeder cattle
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with pork bellies
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October lean hogs
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