Enron Mail

From:weekend@ino.com
To:alewis@ect.enron.com
Subject:Andrew, Weather Boosts Grains. Euro Slumps.
Cc:
Bcc:
Date:Sat, 2 Jun 2001 08:38:59 -0700 (PDT)


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Dear Andrew:

Commodity prices are frequently at the mercy of weather conditions,
and this week was no exception as Grains and Oilseeds enjoyed sharp
recoveries based on cold temperatures in the Midwest and a drought
in China. Corn and Wheat zoomed to two-week highs. Hogs ran to
five-week highs on technical factors. Softs were on a downslope,
but had a Friday bounce. Meantime, Gasoline and Crude Oil fell off
the pace as supply concerns eased. Copper was also under pressure
reflecting subdued demand and concerns about the US economy. Nobody
was willing to bet on a sharp Fed rate cut, and this left Bonds
higher and short-term Treasuries lower. The Dollar was strong,
but mostly because the Euro turned weak on dim prospects of central
bank intervention. The slide in Gold steadied a bit Friday. Stock
index futures were flat to lower on the week, but finished on a
positive note.

Alex McCallum, Editorial Director & Forum Moderator

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