Archive for Wednesday, May 7, 2003

Commodities

May 7, 2003

Advertisement

Chicago Board of Trade

Wheat futures advanced modestly for a second straight session Tuesday on the Chicago Board of Trade.

Soybeans also increased slightly, while corn finished narrowly mixed.

Technically inspired buying by commodity funds lifted wheat prices to solid gains. Market analysts said weather concerns also contributed to the increase.

Soybeans rallied to finish higher after overcoming rumors that China had cancelled one or two cargoes of U.S. beans.

Corn finished almost unchanged. Despite the rapid spring planting pace, strong selling interest failed to materialize.

Wheat for July delivery rose 4 1/4 cents to $2.93 a bushel; July corn rose 1/4 cent to $2.37 1/2 a bushel; July oats fell 1/2 cent to $1.49 3/4 a bushel; July soybeans rose 1 3/4 cent to $6.29 1/2 a bushel.

Beef futures increased while pork futures settled mixed on the Chicago Mercantile Exchange.

June live cattle rose .42 cent to 73.42 cents a pound; August feeder cattle rose .42 cent to 84.97 cents a pound; June lean hogs fell .45 cent to 64.32 cents a pound; July pork bellies rose .55 cent to 92.92 cents a pound.

Local markets

As of Tuesday's close, courtesy of Ottawa Cooperative Assn. Ottawa Elevator -- Wheat, $3.13; corn, $2.23; milo, $2.18; soybeans, $6.05. Edgerton Elevator -- Wheat, $3.13; corn, $2.23; milo, $2.18; soybeans, $6.05. Overbrook Elevator -- Wheat, $3.13; corn, $2.28; milo, $2.23; soybeans, $6.05. Midland Elevator -- Wheat, NA; corn, $2.33; milo, NA; soybeans, $6.05. Lawrence North Elevator -- Wheat, NA; corn, $2.33; milo, NA; soybeans, $6.07. Lawrence South Elevator -- Wheat, $3.13; corn, $2.33; milo, $2.28; soybeans, $6.05. Pauline Elevator -- Wheat, NA; corn, $2.33; milo, $2.28; soybeans, $6.09.

St. Joseph livestock

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

Estimated Receipts: 350. Compared to Monday, barrows and gilts sold 1.50 higher; 46-50 percent lean 230-270 lbs 38.00-38.50. Sows: 300-500 lbs sold steady; over 500 lbs 1.00 higher; 1-2 300-500 lbs 25.00-27.00; 1-3 500-550 lbs 29.00; 550-700 lbs 30.00-31.00. Boars: Steady; 300-700 lbs 6.00.

Nonferrous metals

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

Aluminum - 61.5 cents per lb., London Metal Exch. Tue.

Copper - $75.0 Cathode full plate, U.S. destinations.

Copper -71.50 cents per lb., N.Y. Merc spot Fri.

Lead - $458.00 per metric ton, London Metal Exch.

Zinc - 36.97-37.47 cents lb., delivered.

Gold - $342.85 Handy & Harman (only daily quote).

Gold - $342.50 troy oz., NY Merc spot Tue.

Silver - $4.815 Handy & Harman (only daily quote).

Silver - $4.787 troy oz., N.Y. Merc spot Tue.

Mercury - $165.00 per 76 lb flask, N.Y.

Platinum - $608.00 troy oz., N.Y. (contract).

Platinum $617.20 troy oz., N.Y. Merc spot Tue.

Commenting has been disabled for this item.