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Strategies & Market Trends : Commodities - The Coming Bull Market -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (450)	7/6/2001 2:29:13 PM
From: craig crawford	Read Replies (1) \| Respond to of 1643

In other commodity markets: CRUDE OIL: Prices rallied as a large decline in U.S. crude-oil stocks overshadowed Iraq's acceptance of a five-month extension of the United Nations oil-for-food program -- and the imminent resumption of Iraqi crude-oil exports. August crude futures climbed 78 cents to $27.02 a barrel at the New York Mercantile Exchange. After climbing throughout the session, the contract showed a strong finishing kick as speculators and commercial players bought to offset positions betting that prices would go down. Crude-oil prices crashed 13%, or more than $3.50 a barrel, during the past month, despite the loss of Iraqi exports, as market players bet the export halt would be brief. ORANGE JUICE: Frozen-concentrate orange-juice prices rallied on the New York Cotton Exchange division of Nybot as a result of speculative short covering, or the buying of futures to cancel previous sales, participants said. The September contract rose 6.75 cents to 84.3 cents a pound. Prices opened slightly lower and set a new contract low right after the opening before the speculative buying appeared.