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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (50559)	5/12/2000 4:54:00 PM
From: el paradisio	Read Replies (2) \| Respond to of 99985

Haim, TNX did finish at 6.498...very high,VIX is also bullish, however on 10' closed with inverted hummer,or gravestone doji. It seems to me that "waiting time" for AG will come on Mon and Tue. They always hide any adjustments, particularly to the oil. Maybe we should teach them some math??? CSCO has a very bearish closing and below 60. GE is holding nicely so far,but TRAN is weak. Semi's are weak,computers are overbought el

To: Haim R. Branisteanu who wrote (50559)	5/12/2000 5:42:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 99985

More of Clinton's administration spin Crop prices expected to fall again By PHILIP BRASHER, Associated Press WASHINGTON (May 12, 2000 11:02 a.m. EDT nandotimes.com) - A worldwide surplus of grain and soybeans is likely to push prices for many commodities down again this year, given the big crops that farmers are planting this spring, the Agriculture Department said Friday. Soybean prices, which averaged $4.65 per bushel in 1999, will decline for the fourth year in a row this year with U.S. production expected to rise 12 percent, the department said. Prices this year will range from $4 to $5 a bushel, with a midpoint of $4.50, the department said. Rice prices are expected to decline, too, because of large domestic and global supplies. Prices should range from $4.75 to $5.75 per hundred pounds, down from an average of $6.05 to $6.15 last year. Corn prices also are likely to drop several cents a bushel this year, while prices for wheat will rise somewhat, USDA said. The department already had been expecting to spend $7.3 billion on crop subsidies this year, because of the continued low prices. The lower price projections released today could raise that as high as $8 billion, said USDA economist Larry Salathe. But, he said, "a lot can happen between now and September," when most of the crops are harvested. The price declines are unlikely to have much impact in supermarkets, because the cost of raw ingredients and animal feed accounts for just a small portion of consumer food prices. The government may be overestimating the size of this year's crops, said Bill Nelson, an analyst with A.G. Edwards. "We've got some major weather problems in the Midwest, the Southeast and in Texas. Until those are resolved with more favorable weather conditions, you have to maintain some downside risk in crop production and upside risk in prices," he said. Commodity prices collapsed in 1998 because of financial problems in Asia and heavy worldwide crop production and are expected to recover slowly through the coming decade. Congress is considering a third multibillion-dollar bailout of the U.S. farm economy in as many years. The price of corn averaged between $1.85 to $1.95 in 1999. The price should range between $1.60 to $2 a bushel this year, with a midpoint of $1.80, USDA said. Wheat prices, which averaged $2.50 per bushel in 1999, are expected to range between $2.40 to $2.90 this year. U.S. production of winter wheat is down 3 percent this year, as a drought severely damaged the crop in Texas. The state is expected to produce just 70.4 million bushels - less than Ohio and five other states - compared to 122.4 million bushels in 1999. The year is shaping up much better for cattle and hog producers. Prices for hogs are expected to average between 44 to 46 cents per pound, up from 34 cents last year. Beef prices are estimated at 68 to 71 cents this year, compared to 65.5 cents in 1999.