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Archive for Wednesday, June 25, 2003

Commodities

June 25, 2003

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Chicago Board of Trade

Wheat futures skidded to the latest in a series of six-week lows Tuesday on the Chicago Board of Trade, pressured by a surge in harvest activity.

Corn also fell, while soybeans rose.

Wheat prices continued their slide as the winter-wheat harvest nears a climax. Market-watchers said the lack of export demand also weighed on the market.

Corn slipped amid bearish weather and production outlooks.

Soybeans found support from signals of stronger export demand. Rumors that China was returning to the market to buy more U.S. soybeans stirred buyers' enthusiasm.

Wheat for July delivery fell 4 3/4 cents to $3.02 1/4 a bushel; July corn fell 1/4 cent to $2.39 1/4 a bushel; July oats fell 8 1/4 cents to $1.48 a bushel; July soybeans rose 5 1/2 cents to $6.35 3/4 a bushel.

Beef futures declined while pork futures finished mixed on the Chicago Mercantile Exchange.

July live cattle fell .78 cent to 69.62 cents a pound; August feeder cattle fell .23 cent to 85.17 cents a pound; July lean hogs rose .25 cent to 65.07 cents a pound; July pork bellies fell .80 cent to 92.72 cents a pound.

Local markets

As of Tuesday's close, courtesy of Ottawa Cooperative Assn. Ottawa Elevator Wheat, $2.86; corn, $2.24; milo, $2.09; soybeans, $6.25. Edgerton Elevator Wheat, $2.86; corn, $2.24; milo, $2.09; soybeans, $6.25. Overbrook Elevator Wheat, $2.86; corn, $2.29; milo, $2.14; soybeans, $6.25. Midland Elevator Wheat, NA; corn, $2.34; milo, NA; soybeans, $6.25. Lawrence North Elevator Wheat, NA; corn, $2.34; milo, NA; soybeans, $6.27. Lawrence South Elevator Wheat, $2.86; corn, $2.34; milo, $2.19; soybeans, $6.25. Pauline Elevator Wheat, NA; corn, $2.34; milo, $2.19; soybeans, $6.29.

St. Joseph livestock

St. Joseph, Mo. (ap) - Quotations for Tuesday:

Estimated Receipts: 250. Compared to Monday, barrows and gilts sold mostly steady with instances of fancy hogs bringing 50 cents higher; 46-50 percent lean 230-270 lbs 44.50-45.00, few 45.50. Sows: Compared to Monday sows steady; 1-2 300-500 lbs 30.00-31.00; 1-3 500-700 lbs 33.00-35.00. Boars: Steady; 300-700 lbs 6.00.

Nonferrous metals

New York (ap) Spot nonferrous metal prices Tuesday:

Aluminum - 63.4 cents per lb., London Metal Exch. Tue.

Copper - $80.0 Cathode full plate, U.S. destinations.

Copper -76.70 cents per lb., N.Y. Merc spot Tue.

Lead - $460.00 per metric ton, London Metal Exch.

Zinc - 38.33-38.83 ents lb., delivered.

Gold - $348.25 Handy & Harman (only daily quote).

Gold - $346.30 troy oz., NY Merc spot Tue

Silver - $4.525 Handy & Harman (only daily quote).

Silver - $4.512 troy oz., N.Y. Merc spot Tue.

Mercury - $175.00 per 76 lb flask, N.Y.

Platinum - $678.00 troy oz., N.Y. (contract).

Platinum $673.00 troy oz., N.Y. Merc spot Tue.

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