Archive for Wednesday, June 18, 2003

Commodities

June 18, 2003

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Chicago Board of Trade

Bargain-hunters lifted corn and soybean prices higher Tuesday on the Chicago Board of Trade.

Wheat also increased fractionally.

Corn futures finished modestly higher for the session despite a lack of fresh input, with investors perceiving the market as oversold.

Soybeans found support from both the market-correcting consensus and strong soyoil premiums in South America.

Wheat nosed higher in a small rebound from the big losses of the previous two sessions.

Wheat for July delivery rose 3/4 cent to $3.16 3/4 a bushel; July corn rose 1 1/2 cent to $2.42 a bushel; July oats rose 4 3/4 cents to $1.55 3/4 a bushel; July soybeans rose 4 cents to $6.21 1/4 a bushel.

Local markets

As of Tuesday's close, courtesy of Ottawa Cooperative Assn. Ottawa Elevator -- Wheat, $2.96; corn, $2.27; milo, $2.12; soybeans, $6.10. Edgerton Elevator -- Wheat, $2.96; corn, $2.27; milo, $2.12; soybeans, $6.10. Overbrook Elevator -- Wheat, $2.96; corn, $2.32; milo, $2.17; soybeans, $6.10. Midland Elevator -- Wheat, NA; corn, $2.37; milo, NA; soybeans, $6.10. Lawrence North Elevator -- Wheat, NA; corn, $2.37; milo, NA; soybeans, $6.12. Lawrence South Elevator -- Wheat, $2.96; corn, $2.37; milo, $2.22; soybeans, $6.10. Pauline Elevator -- Wheat, NA; corn, $2.37; milo, $2.22; soybeans, $6.14.

Nonferrous metals

New York (ap) -- Spot nonferrous metal prices Tuesday:

Aluminum - 63.5 cents per lb., London Metal Exch. Tue.

Gold - $363.20 troy oz., NY Merc spot Tue

Silver - $4.605 troy oz., N.Y. Merc spot Tue.

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