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<Syngold Exploration Inc> and <Corp Falconbridge Copper> said they defined undiluted reserves of 911000 tons of ore with an average grade of 0.43 ounces of gold per ton in two separate deposits on the Deka property located at Noranda Quebec. Assay results from 20 suface holes drilled on 250 foot centers indicate that the Donalda number one deposit contains possible reserves of 611000 tons at an average grade of 0.48 ounces of gold per ton. The number one deposits reserves are contained between a vertical depth of 750 and 1200 feet at a strike length of 900 feet. Reserves of the Donalda number-two deposit located 1000 feet below the number-one deposit were recalculated at 300000 tons with an average grade of 0.33 ounces of gold per ton. Syngold has earned a 20 pct interest in the Deka property from the operator Corp Falconbridge Copper. Reuter | SYNGOLD DEFINES RESERVES ON DEKA PROPERTY |
Apr 149.25 149.25 149.50 149.50 147.75 1064 May 147.50 147.50 147.75 147.75 146.25 946 Jun 146.50 146.50 147.00 147.25 146.00 293 Jul 146.50 146.25 --- 147.00 146.50 64 Aug --- 146.50 --- --- --- --- Sep --- 147.00 --- --- --- --- Oct --- --- --- --- --- --- Nov --- --- --- --- --- --- TOTAL SALES 2367 | LONDON GASOIL CALL COMPLETE 1439 - APR 7 |
Comex gold futures opened firmer on the back of a weak dollar and firm silver values. The pacesetting June delivery was up 90 cts at 423.50 dlrs an ounce recouping some of yesterdays light losses of 1.50 dlrs. Other contracts gained 1.70 to 2.30 dlrs. Floor analysts said the precious metal mirrored the action in the silver trading ring more than anything else. Speculators continued to buy silver on hopes it would soon hit seven dlrs an ounce in the May contract. The stock market again acted as a drag on gold even though it slipped on profit-taking this morning analysts said. Reuter | U.S. GOLD FUTURES OPEN FIRMER ON WEAK DOLLAR |
 BELGIAN FRANC EMS DIVERGENCE RATE - APRIL 7 - 42 PCT (43.0395 FRANCS)  | |
 N.Y. COCOA OFFICIAL VOLUME FOR APRIL 6 MAY 820 JLY 1081 SEP 39 DEC 63 Mch 0 May 0 Total official volume 2003 Reuter  | |
 CBT VOLUME/OPEN INTEREST ESTIMATE FOR April 6 (000S BUSHELS) OPEN INTEREST CHANGE VOLUME WHEAT 157855 up 6150 39645 CORN 710708 dn 10732 87075 OATS 31200 dn 380 5355 SOYBEANS 431845 up 6140 72090 SOYMEAL 64608 up 140 6951 SOYOIL 75272 up 111 5502 T-BONDS 243097 dn 4061 186869 T-NOTES 57862 dn 2512 15813 Reuter  | |
 BRUSSELS EXCHANGES CLOSING - APRIL 7 US DLR COM 37.72 37.79 US DLR FIN 37.75 38.15 FFR 6.21 6.24 STG 61.01 61.23 DFL 18.32 18.39 SFR 24.92 25.01 DMK 20.67 20.75  | |
Cambridge BioScience Corp said it received Federal Drug Administration approval on its Investigational New Drug filing to begin human clinical trials of its second generation diagnostic test for AIDS. The company said it anticipates the test may be released to worldwide markets by late 1987 or early 1988. Cambridge BioScience also said it expects to file soon an Investigational New Drug with the FDA on its screening test for detecting AIDS antibodies. This test which is being evaluated in emergency situations in several African nations does not require highly trained technicians nor instrumentation according to the company. Cambridge BioScience explained that the filing for human clinical trials for AIDS that received FDA approval utilizes recombinant-DNA technology to detect and screen antibodies in blood or serum of patients infected with the AIDS-causing virus. The other separate planned filing with the FDA is a revolutionary five-minute latex agglutination screening test for detecting AIDS antibodies the company said. This test utilizes latex beads coated with CBCs recombinant antigen which attract and hold AIDS antibodies forming clusters (agglutination) which indicates a positive result. Reuter | CAMBRIDGE BIOSCIENCE <CBCX> TO START AIDS TESTS |
3Com Corp said it supports International Business Machines Corps personal System/2 series of computers and will provide network operating software and interfaces. The software and interfaces will allow the new machines to be integrated into existing 3System workgroup systems 3Com said. 3Com said it is modifying its 3+ network software to work under DOS 3.3 ensuring campatibility with current Personal Snd IBMs new Token Ring adaps Micro Channel architecture. Reuter | 3COM <COMS> SUPPORTS NEW <IBM> COMPUTERS |
Hog prices are expected 1.00 dlr higher on estimated receipts of 1500 head private sources said. Top seen at 51.50 dlrs per cwt. Reuter | ST JOSEPH HOGS SEEN UP 1.00 DLR - PRIVATE |
Rexon Inc said an offering of two mln common shares is underway at 13.25 dlrs per share through underwriters led by Hambrecht and Quist Inc. Underwriters have been granted an overallotment option for up to 300000 more shares. Reuter | REXON <REXN> SHARE OFFERING UNDERWAY |
Chicago Mercantile Exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 290000 to 307000 head versus 294000 week ago and 317000 a year ago. Cattle slaughter is guesstimated at about 124000 to 128000 head versus 133000 week ago and 135000 a year ago. Reuter | HOG AND CATTLE SLAUGHTER GUESSTIMATES |
Surgidyne Inc said it filed a registration statement for a proposed initial public offering of its common stock. The company proposes to offer 1125000 common shares at about 2.00 dlrs a share. The offering would be underwritten by Westonka Investments Inc. Surgidyne develops and markets specialty medical and surgical products. Reuter | SURGIDYNE INC FILES FOR INITIAL OFFERING |
AAR Corp said its AAR Technical Service Center unit signed a major maintenance agreement with Continental Airlines to provide a wide range of support for components operated on Continentals expanding fleet of B727 B737 DC9 MD80 and DC10 aircraft. It said it is the largest component repair service agreement reached by Continental Airlines with an independent repair facility. Reuter | AAR <AIR> UNIT SIGNS SERVICE AGREEMENT |
U.S. credit markets opened lower undercut by a weaker dollar dealers said. The impetus for the opening declines came from overseas trading where a lack of retail buying led to profit-taking that erased yesterdays moderate gains dealers said. Most investors have stepped to the sidelines to await the outcome of this weeks monetary meetings in Washington and to see how it affects exchange rates they added. The key 7-1/2 pct Treasury bond opened 17/32 lower at 95-22/32 to yield 7.88 pct compared with 7.84 pct at yesterdays close. It fell to 95-26/32 in late Tokyo trade. How the bond market trades seems to be a mirror image of how the dollar/yen trades a dealer said. As the dollar goes so goes the market but so far were just bouncing around in thin trading. Skepticism that this weeks monetary meetings of leading industrial nations in Washington will produce substantive agreements to ease trade tensions between the U.S. and Japan and take pressure off the dollar is weighing on bond prices. I cant imagine that anything of much substance could comoe out of these meetings other than a reiteration of previous statements a dealer said. Dealers said U.S. government securities prices will be vulnerable as long as further dollar declines are expected. The 6-3/8 pct two-year notes fell 1/16 to 99-20/32 at the opening and the 7-1/4 pct 10-years dropped 11/32 to 97-25/32. Treasury bill rates rose in early trading pulled higher in sympathy with the rise in coupon yields. Three-month bills were unchanged from yesterdays auction price at 5.53 pct bid while six-month bills rose six basis points from their auction price to 5.69 pct bid. Year bills rose four basis points to 5.77 pct bid. The Federal funds rate opened at 6-1/8 pct and remained at this level in early trading. It averaged 6.20 pct yesterday. Economists said seasonal pressures on bank reserves point to a possible indirect injection of temporary reserves by the Federal Reserve this morning. Some look for the Fed to purchase coupon securities this afternoon. Dealers said the market may take its next cue from Federal Reserve chairman Paul Volckers Congressional testimony at 1000 EDT (1400 GMT) this morning. Reuter | U.S. CREDIT MARKETS OPEN LOWER |
The European <Airbus Industrie> consortium is to change the lead engine on its A-340 aircraft because the high-technology superfan engine will not be ready by 1992 a company spokesman said. Airbus has chosen the Franco-U.S. CFM-56-S3 engines to replace the <International Aero Engine> (IAE) consortiums superfan. The spokesman added the new engine to be produced by General Electric Co of the U.S. And SNECMA of France can provide greater thrust than the IAE rival. The spokesman said the IAE consortium which includes Pratt and Whitney of the U.S. And Britains <Rolls Royce> is unable to supply its superfan engines in time for mid-1992 when the A-340 is due to become operational. Airbus signed an agreement with IAE last December replacing an earlier accord with GE and <SNECMA> whose CFM-56 engine could then offer no more than a 28600 lbs thrust compared to the proposed superfans 30000 lbs. The latest version of the CFM-56 however can provide a 30600 lbs thrust. The Airbus spokesman said the consortiums decision did not exclude the IAE superfan once ready being offered as an alternative engine on the A-340 as the superfan was more fuel-efficient than the CFM engine. The spokesman said Airbus expected IAE to come back with some proposals on superfans new production timetable within the next few weeks or months. Reuter | AIRBUS TO USE GE <GE> ENGINE ON A-340 AIRLINER |
 NY COCOA OPG 7-APR OPEN P SETT MAY7 1922L 1925H 1934 JUL7 1955L 1956H 1967 SEP7 1980L 1982H 1989 DEC7 2005B 2010A 2015 MAR8 2030B 2040A 2043 MAY8 2040B 2060A 2063 JUL8 2050B 2090A 2049 SEP8 2055B --  | |
 CME TOTAL VOLUME/OPEN INTEREST FOR April 6 OPEN-INT CHANGE VOLUME LIVE CATTLE 93983 up 1088 21225 FEEDER CATTLE 16232 up 86 2106 LIVE HOGS 30364 dn 1 5401 PORK BELLIES 11663 dn 191 4362 CME TOTAL 152242 up 982 33094 LIVESTOCK OPTIONS CATTLE OPTIONS 62183 up 1209 6205 FEEDER OPTIONS 8034 up 121 411 HOG OPTIONS 12010 up 14 518 PORK BELLY 2131 up 64 101 Reuter  | |
EMERY AIR FREIGHT SAID HUTTON GROUP ENDS OFFER FOR PUROLATOR COURIER |
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 NY COMEX ALUMINUM OPG TRENDS 7-APR OPEN P SETT APR7 -- 6250 MAY7 -- 6150 JUN7 -- 6050 JUL7 -- 6000 SEP7 -- 5780 DEC7 -- 5720 JAN8 -- 5720 FEB8 -- -- MAR8 -- 5720 MAY8 -- 5720 JUL8 -- 5720 SEP8 -- 5720 DEC8 -- 5720 JAN9 -- 5720  | |
 DUTCH INTERBANK DEPOSIT RATES - APRIL 7 CALL MONEY 5-3/8 LOW 5-1/2 HIGH TRADED PERIODS BID / OFFERED ONE MONTH 5-5/16 5-7/16 TWO 5-5/16 5-7/16 THREE 5-5/16 5-7/16 SIX 5-5/16 5-7/16 12 5-5/16 5-7/16 Reuter  | |
Live cattle futures were expected to continue their upward climb to new seasons highs and highest levels in years as fundamentals continue to point upward traders said. They cited steady to higher live calls as the main buying factor. Market-ready supplies remain tight and packer interest has been improving they noted. A firm tone to cash wholesale beef and moderate boxed beef movement at higher cutout prices were also cited as supporting factors. Stopping of deliveries by strong hands will likely add to strength in spot April they added. Reuter | LIVE CATTLE FUTURES SEEN STEADY TO HIGHER |
 IMM/IOM TOTAL VOLUME FOR April 6 B POUND 13053 Lumber 1336 C DLR 2137 T-bill 4122 D MARK 23820 CD 0 F FRANC 0 Eurodlr 48804 J YEN 11720 SP 500 67104 S FRANC 16727 SP 100 ---- A DLR 191 SP 250 otc ---- ec unit 3 TTL IOM 106942 ttl imm 120577 EXCHANGE TOTAL 260613 Reuter  | |
Platinum futures rose in thin early trading as the metal again followed silver to higher ground floor analysts said. The key July delivery traded at 573.50 dlrs an ounce up 4.90 dlrs. Other months posted gains of 4.40 to 7.40 dlrs. Palladium was 20 to 70 cts firmer in sympathy. Silver continued to set the pace for the metals complex attracting purchases by professional traders and investors amid speculation the metal would soon breach selling resistance at seven dlrs an ounce in the May delivery. However quick day-trader profit taking in the silver ring spilled over and platinum also backed off from early highs brokers said. Reuter | N.Y. PLATINUM FUTURES RISE IN EARLY TRADING |
Live Hog futures were expected to open steady to mostly higher after yesterdays mostly higher close. Traders anticipate carryover demand prompted by firmer live calls and the continued discount of futures to cash. Hog runs are light as farmers are starting spring fieldwork in some areas they noted. Private reports of steady to firm cash pork products and a rise in the cutout yesterday was adding to packer interest for cash hogs they said. Spillover strength from higher cattle pits is also likely again today they added. Reuter | LIVE HOG FUTURES EXPECTED STEADY TO HIGHER |
The Intrepid Museum Foundation reiterated that it is continuing negotiations with its official Bondholders and creditors committees concerning the terms of a Chapter 11 plan of reorganization. In December 1986 the museuem said it proposed a 20 pct cash payment to its bondholders and a 12.5 pct cash payment to the unsecured creditors. The museum said it is hopeful of filing a plan in the near future. The museum said it has 15.2 mln dlrs principal amount of gross revenue bonds outstanding and approximately 1350000 of unsecured debt. Reuter | INTREPID MUSEUM CONTINUES REORGANIZATION TALKS |
 IMM/IOM TOTAL OPEN INTEREST FOR April 6 OPEN CHANGE OPEN CHANGE B POUND 41126 up 6256 LUMBER 6964 up 130 C DLR 27497 up 207 T-bill 37276 dn 775 D MARK 40982 dn 623 CD 36 unch F FRANC 281 unch EURODLR 244504 up 2456 J YEN 48812 up 2216 SP 500 103238 up 1279 A DLR 2006 up 11 SP 100 ----- ---- S FRANC 30329 up 787 SP250 otc --- ---- ec unit 11 up 3 TTL IOM 644058 dn 8148 ttl imm 472860 up 10538 Exchange total 1269160 up 3372 Reuter  | |
 U.S SPOT PRODUCTS--OUTLOOK--APRIL 07 0930 EST Spot oil product markets are expected to open 0.25-0.50 cent higher this morning mostly due to small gains in the european markets traders said. London gas oil futures were slightly firmer on shortcovering before contract expiration they said. And northwest europe cash products were stable to firmer too they added. spot two oil is expected to open in the 49.00-49.25 range in ny harbor this morning while the 21 day moving average is 49.75 cts/gal. usg two oil is said to be talked between 46.80-47.10 compared to 46.77 over three weeks. unleaded gasoline is put at about 51.95 for prompt unleaded in nyh after averaging 51.58 in the last 21 days. usg april barrels are talked around 51.70 this morning versus 51.23 over three weeks. Reuter  | |
Direct hog prices expected 0.75 to 1.00 dlr higher private sources said with country sales seen at 49.50 to 50.50 dlrs per cwt. Reuter | INDIANA DIRECT SEEN HIGHER - PRIVATE SOURCES |
Cattle prices opened 1.00 to 1.50 dlr higher private sources said. Steer top 66.00 and Heifers 65.00 dlrs. Reuter | ST PAUL CATTLE OPEN UP 1.00-1.50 DLR - PRIVATE |
<Noranda Inc> said it agreed to buy an initial 1000501 treasury shares of <Sanivan Group Inc> at 5.25 dlrs per share. Noranda also has an option until June 30 1988 to acquire an additional 1000501 Sanivan treasury shares at 5.75 dlrs per share. Sanivan is the largest hazardous waste management company in Canada. Reuter | NORANDA BUYS SHARES OF SANIVAN GROUP |
Pork belly futures were expected to open steady to higher after yesterdays late strength and sharply higher close in the nearby. Traders anticipate carryover demand prompted by steady to mostly higher live hog calls and light hog runs. Slaughter is likely to remain on the light side and lend support to cash product they said. Private reports of hedger interest for cash product also prompted calls of steady to higher for cash bellies this morning they added. Guesses on todays out of town storage report ranged from in 1.0 to 2.25 mln lbs. Reuter | PORK BELLY FUTURES EXPECTED STEADY TO HIGHER |
Cattle prices climbed 0.50 to 1.00 dlr at the opening private sources said. STeer top 66.00 and Heifers 63.00 dlrs. Reuter | ST LOUIS CATTLE OPEN UP 0.50-1.00 DLR - PRIVATE |
Emery Air Freight Corp said it has entered into an agreement with E.F. Hutton Group Inc EFH under which Hutton will terminate its merger agreement with Purolator Courier Corp and its pending 35-dlr-per-share tender offer effective April 13. Under its merger agreement Hutton has the right to unilaterally terminate the merger agreement under certain circumstances including its receipt of less than 66-2/3 pct of Purolator shares or the start of a higher competing tender offer such as Emerys competing 40 dlr per share offer for Purolator stock. Yesterday Huttons PC Acquisition Corp subsidiary extended its tender offer which was to have expired at midnight for two more days. It said it only about 450000 shares or 6.5 pct of Purolator shares had been tendered and not withdrawn down from an 11.5 pct interest held earlier. Emerys bid expires April 28. Emery said pending the termination of PC Acquisitions merger agreement PC has released Purolator from an agreement not to discuss Emerys acquisition proposal with Emery. Emery said as a result it is renewing its request that Purolatr enter into merger negotiations with it. Emery said if it were to acquire 51 pct of Purolator shares or control of the Purolator board it has agreed not to dispute PC Acquisitions right to receive fees that Purolator agreed to pay if PC were unsuccessful in acquiring control of Purolator due to the acquisition of control by another party. The company said it has also agreed to let Purolator pay all of PC Acquisitions documented expenses in connection with the merger agreement up to three mln dlrs and Emery has agreed to pay the amounts itself should Purolator fail to do so. Reuter | HUTTON <EFH> ENDS PUROLATOR <PCC> BID |
South Africa gold holdings rose 172.56 mln rand to 4.17 billion rand in March after rising 39 mln rand to 4.0 billion in February Reserve Bank figures show. In volume terms gold holdings rose to 5.51 mln ounces in March from 5.26 mln ounces in February valued at 757.24 rand an ounce for March versus 754.59 rand an ounce for February. Total gold and foreign assets rose to 6.30 billion rand from 6.22 billion of which the gold content increased to 66.22 pct from 64.3 pct. Foreign bills remained at zero in March while investments fell slightly to 105.69 mln rand from Februarys 106.56 mln rand and other assets to 2.02 billion rand from 2.11 billion the figures showed. Total liabilities fell to 12.21 billion rand in March after rising to 13.62 billion in February. Reuter | SOUTH AFRICAN GOLD HOLDINGS RISE IN MARCH |
 IOM OPTIONS OPEN INTEREST FOR April 6 OPEN CHANGE VOLUME SP 500 46538 up 1126 9480 euro dl 153346 up 1201 8296 t-bill 875 unch 16 b pound 39870 dn 2440 1910 d mark 108598 dn 3179 4670 j yen 50493 dn 6031 4531 s franc 43096 dn 1475 2322 c dlr 6682 dn 167 42 ttl ops 533856 dn 9557 38502 grand ttl 1269160 up 3372 260613 Reuter  | |
 PARIS SUGAR 15.45 - APR 7 May 1145/1150 Ba Aug 1170/1172 ba Oct 1200/1207 ba Dec 1230/1238 ba Mar 1256/1270 ba May 1292/1310 ba Sales at call nil accumulative total 870 quiet  | |
Hotel Investors Trust and Hotel Investors Corp whose shares are paired and traded together said shareholders approved the sale of 355556 paired shares to John F. Rothman and Ronald A. Young the presidents and chief executive officers of the trust and corporation respectively. Rothman and Young agreed to buy the shares for 22.50 dlrs each subject to shareholder approval after selling Wester Host Inc to Hotel Investors in December. The company had about 11.4 mln shares outstanding. Reuter | HOTEL INVESTORS <HOT> HOLDERS APPROVE STOCK SALE |
Spain will shortly sign with Saudi Arabia an order for barley for April/May delivery trade sources said. They gave no details on amounts or prices but said it would be a major order. Saudi Arabia bought 500000 tonnes of Spanish barley last year. Reuter | SPAIN TO SELL BARLEY TO SAUDI ARABIA |
Clayton Homes Inc said revenues in the third quarter rose eight pct to 38 mln dlrs. Sales in the nine months ended March 31 rose 12 pct to 126 mln dlrs from 112 mln dlrs the homebuilder said. In the quarter 2240 homes were sold up from 2149 sold in the year-ago quarter. Sales to independent dealers rose by three mln dlrs accounting for most of the increase Clayton said. In the nine months 7544 homes were sold compared to 7043 in last years period. Earnings will be released April 14 the company said. Reuter | CLAYTON HOMES <CMH> REPORTS 3RD QTR SALES RISE |
Twistee Treat Corp said it has signed letters of intent for four investor group to develop a total of 585 additional Twistee Treat Ice Cream Stores in western New York California North Carolina South Carolina and Texas. The company said the agreements call for the opening of at least 83 locations in the next 12 months and completion of remaining stores by 1989. It said it expects area development fee income of over two mln dlrs in cash over the next three years. Reuter | TWISTEE TREAT <TWST> SETS STORE DEVELOPMENT |
Caisse Nationale des Autoroutes is issuing a 120 mln ecu 7-3/8 pct bond due May 15 1995 at 101-3/4 pct lead manager Credit Lyonnais (CL) said. The non-callable issue of senior debt guaranteed by France has fees of 1-1/4 pct for selling and 5/8 pct for management and underwriting including a 1/8 pct praecipuum. A management group is being put together and we are selling well inside the fees a CL spokesman said. Payment date is May 15 denominations are of 1000 and 10000 ECUs and listing is in Luxembourg. Co-leads are Shearson Lehman and Nippon European Bank SA. REUTER | FRANCE'S CNA ISSUES 120 MLN ECU EUROBOND |
The U.S. Agriculture Department reported the farmer-owned reserve national five-day average price through April 6 as follows (Dlrs/Bu-Sorghum Cwt) - Natl Loan Release Call Avge Rate-X Level Price Price Wheat 2.64 2.40 IV 4.65 -- V 4.65 -- VI 4.45 -- Corn 1.40 1.92 IV 3.15 3.15 V 3.25 -- X - 1986 Rates. Natl Loan Release Call Avge Rate-X Level Price Price Oats 1.57 0.99 V 1.65 -- Barley 1.49 1.56 IV 2.55 2.55 V 2.65 -- Sorghum n.a. 3.25-Y IV 5.36 5.36 V 5.54 -- Reserves I II and III have matured. Level IV reflects grain entered after Oct 6 1981 for feedgrain and after July 23 1981 for wheat. Level V wheat/barley after 5/14/82 corn/sorghum after 7/1/82. Level VI covers wheat entered after January 19 1984. X-1986 rates. Y-dlrs per CWT (100 lbs). n.a.-not available. Reuter | NATIONAL AVERAGE PRICES FOR FARMER-OWNED RESERVE |
Weakness in the dollar and a subsequent easing of bond prices underscored Wall Streets lingering anxiety with interest rates and inflation prompting investors to take profits. The decline though mild was broad based. The Dow Jones Industrial Average which recorded its 33rd record high of the year yesterday when it passed the 2400 level for the first time fell 10 points to 2396 this morning. Declines led advances three to two on volume of 19 mln shares. Bellsouth led the actives with a loss of 1/4 to 39-1/4. IBM fell 1/4 to 149-1/8. Reuter | WALL STREET STOCKS LOWER IN EARLY TRADING |
Prices for the better quality AB grades were steady but those for all others were lower at the weekly Nairobi coffee auction the Mild Coffee Trade Association (MCTA) said. Sources at the major coffee broking firms said prices were generally irregular and were 30 to 50 shillings (1.9 to 3 dollars) lower per 50 kg on the previous weeks levels. The demand was good and all quality coffees were sold they added. The MCTA said the Coffee Board of Kenya (CBK) offered 35000 bags as it did last week and sold 95 pct. Prices per 50 kg were as follows last weeks in brackets: T 1405 1755(1430 1695) E 2200 2295(2190 2295) TT 2000 2129(1900 2303) PB 2280 2333(2202 2349) C 1750 2239(1720 2282) AA 2200 2650(2250 2600) AB 2000 2350(2100 2419) MSC 700 2199 (850 2190) Reuter | PRICES SLIGHTLY LOWER AT NAIROBI COFFEE AUCTION |
 LONDON PLATINUM/PALLADIUM AFTERNOON - APR 7 PLATINUM 349.70 stg 566.35 dlrs PALLADIUM 80.15 stg 129.80 dlrs per troy ounce  | |
The U.S. Agriculture Department released its loan activity report as of April 1 in mln bushels with previous week figures underneath.-- 1986 Crops -- Wheat Corn Soybean Under Loan 505.6 4612.1 321.3 503.9 4583.0 320.7 Redeemed 206.4 1357.3 46.1 195.2 1256.0 42.3 Acquired by CCC 0.2 1.0 0.1 0.1 1.0 0.1 Reserve nil nil n/a nil nil n/a Outstanding 299.0 3253.8 275.1 308.6 3326.9 278.3 N/A - not eligible for reserve. 1985 Crops Wheat Corn Soybeans Total Loans 840.8 3130.1 516.8 840.6 3129.2 516.8 Redeemed 147.5 590.9 205.8 146.2 587.0 205.6 Acquired by CCC 462.1 1158.0 260.0 460.7 1139.6 257.5 Grain Reserve 180.0 786.0 n/a 179.5 774.0 n/a Outstanding 51.2 595.2 51.0 54.2 628.6 53.7 N/A-Not eligible for reserve. 1984 crops Wheat Corn Soybeans Total Loans 284.5 1097.3 278.3 284.5 1097.3 278.3 Redeemed 98.4 443.1 126.5 98.2 443.0 126.5 Acquired by CCC 86.8 258.4 150.5 86.8 258.4 150.5 Grain Reserve 98.4 383.8 N/A 98.6 383.8 N/A Outstanding 0.9 12.0 1.3 0.9 12.1 1.3 1985 Crops Cotton-x Rice-y Sorghum-y Total Loans 7329.7 75.0 200.8 7329.6 75.0 200.8 Redeemed 6406.5 56.1 19.5 6339.3 51.0 19.1 Acquired by CCC 117.1 16.2 136.4 113.8 16.2 135.5 Grain Reserve nil nil 24.4 nil nil 24.1 Outstanding 806.1 2.7 20.5 876.5 7.8 22.1 x - in thousand running bales. y - in mln cwts 1986 Crops (in mln bushels) Cotton-X Rice-Y Sorghum-Y Under Loan 6016.3 129.5 216.6 5995.7 129.0 216.0 Redeemed 1769.7 67.7 37.6 1635.1 66.3 36.2 Acquired by CCC nil nil nil nil nil nil Reserve N/A N/A nil N/A N/A nil Outstanding 4246.6 61.8 179.0 4360.6 62.7 179.8 N/A - Not eligible for reserve. X - in thousand running bales. Y - in mln cwt 1984 Crops Cotton-x Rice-y Sorghum-y Total Loans 2956.8 57.8 36.4 2956.8 57.8 36.4 Redeemed 2273.4 27.0 15.1 2257.8 27.0 15.1 Acquired by CCC 642.8 30.8 13.2 642.2 30.8 13.2 Grain Reserve nil nil 8.0 nil nil 8.0 Outstanding 40.6 nil 0.1 56.8 nil 0.1 x - in thousand running bales. y - in mln cwts 1985 Crops (In mln bushels) Barley Oats Rye Under Loan 158.4 5.6 4.1 158.3 5.6 4.1 Redeemed 50.7 1.7 0.9 50.4 1.7 0.8 Acquired by CCC 45.5 1.5 2.5 44.9 1.5 2.5 Reserve 42.6 1.3 nil 41.3 1.3 nil Outstanding 19.6 1.1 0.7 20.7 1.1 0.8 1986 Crops (In mln bushels) Barley Oats Rye Under Loan 162.3 7.7 5.7 162.0 7.7 5.7 Redeemed 64.1 3.1 1.7 61.6 2.8 1.7 Acquired by CCC nil nil nil nil nil nil Reserve nil nil nil nil nil nil Outstanding 98.2 4.6 4.0 100.4 4.9 4.0 1984 Crops Barley Oats Rye Under Loan 56.9 3.2 10.1 56.9 3.2 10.1 Redeemed 14.7 2.1 0.2 14.6 2.1 0.2 Acquired by CCC 20.0 0.4 9.9 20.0 0.4 9.9 Reserve 22.0 0.7 nil 22.1 0.7 nil Outstanding 0.2 nil nil 0.2 nil nil Reuter | U.S. AGRICULTURE LOAN REPORT |
 FRENCH METALS - APR 7 In francs per 100 kilos unless otherwise stated Tin Straits unq Lead 316 Zinc 495 Electro 503 Antimony 1810 Cadmium 2000 Bismuth unq Aluminium 1310 Nickel 3285 Cobalt 9320 Silver 120400/156800 Quicksilver 5500 Platinum 99900/133200 per kilo Palladium 22900/30600 per kilo Iridium 70600/94100 per kilo  | |
Iowa direct hog prices are expected 1.00 dlr higher private sources said. Country sales seen at 49.00 to 50.00 and Plants at 50.00 to 51.00 dlrs per cwt. Reuter | IA SO-MINN DIRECT HOGS SEEN UP 1.00 DLR-PRIVATE |
Certificated cotton stocks deliverable on the New York Cotton Exchange No 2 cotton futures contract as of April 6 were reported at 35082 bales down 336 bales from the previous days figure. There were no bales awaiting review and 169 bales awaiting decertification. Reuter | CERTIFICATED COTTON STOCKS |
Turnover on the London International Financial Futures Exchange (LIFFE) rose to 1.16 mln contracts in March up from 517746 a year earlier figures issued by the International Commodities Clearing House (ICCH) show. Turnover for the whole of the first quarter was 2.87 mln contracts against 1.52 mln in the same period last year. The biggest increases in March were seen for gilt options long gilt futures and short sterling the ICCH figures show. Key figures given by the ICCH were as follows- March 87 March 86 Gilt options 92182 19046 Stg/dlr options 2640 14375 FTSE 25741 10444 Short sterling 147863 72118 20-year gilt 700102 172564 Eurodollars 107988 71671 T-bonds 72319 136749 REUTER | LIFFE VOLUMES HIGHER IN MARCH |
Tandem Computer Inc said its common stock is now listed on the New York Stock Exchange under the symbol TDM. The companys securities were previously traded on the NASDAQ National Market System under the synbol TNDM. Reuter | TANDEM COMPUTER <TDM> NOW TRADING ON NYSE |
Colombia is in the process of arranging two co-financings for projects in the electrical sector director of public credit Mauricio Cabrera said. He told journalists he expects an 86.6 mln dlr loan to be co-financed by the Inter-American Development Bank (IADB) to be completed by the middle of next month. He also said talks have just concluded with the World Bank on a 200 mln dlr co-financing and that discussions with the bankers will begin later this month. Cabrera was here for the signing yesterday of a 50 mln dlr floating rate note. The floating rate note was the first such issue for Colombia which has had limited access to the international capital markets since the eruption of the international debt crisis in 1982 despite its ability to avoid a rescheduling. The IADB co-financing is for Interconexion Electrica SA (ISA) a public electricity utility. The loan is for 10 years with four years grace. Interest will be at 1-1/8 pct during the grace period after which the margin will rise to 1-1/4 pct Cabrera said. There is also a front end fee of one pct. The cost of the project totals 301.6 mln dlrs of which ISA will contribute about 100 mln and the IADB 115 mln he added. Fuji Bank Ltd and Samuel Montagu and Co Ltd are arranging the commercial bank portion of the financing. Cabrera noted that only about 20 pct of the loan will be drawn this year. He said the World Bank co-financing is likely to come to the market no earlier than June. It is part of an overall financing for various projects in the electrical sector that will take four years and cost about 300 mln dlrs a year. Of the total cost he expects the World Bank and the IADB to contribute about 700 mln dlrs with the Export-Import Bank of Japan lending between 200 and 300 mln. The balance will come from commercial banks. Cabrera said that Colombia also plans one other issue in the international capital markets this year. The country expected to launch up to 120 mln dlrs in floating rate notes but the market has virtually disappeared in the past few months as supply outstripped demand and the number of market makers contracted sharply. Cabrera said he is now considering several options including a fixed rate Eurobond and an issue in Japan. Last year Colombia arranged a private placement in Japan for the equivalent of about 40 mln dlrs. Although it prefers a public issue Colombia would place any financing in Japan privately. Bankers noted that the floating rate note signed yesterday which was for seven years with four years grace and paid 1-1/8 pct over Libor was basically a disguised loan. Cabrera said that as of December 31 1986 Colombia had 11 billion dlrs of public sector foreign debt and 3.4 billion dlrs of private sector debt. Of its planned total borrowings this year of two billion dlrs he said that about 1.4 billion had been arranged before the end of 1986 and that most of the borrowings in 1987 will be drawn in future years. REUTER | COLOMBIA ARRANGING TWO CO-FINANCINGS FOR PROJECTS |
 LONDON COPPER INDICATION AT 1500 - APR 7 At 1500 London time metal dealers indicating Copper three months Grade A at 880 to 882 stg per tonne.  | |
 LONDON DOLLAR FLUCTUATIONS 1500 - APRIL 7 STG 1.6185/90 DMK 1.8240/50 SFR 1.5127/37 DFL 2.0575/85 FFR 6.0650/0700 YEN 145.20/30 LIT 1299/1300 BFC 37.76/79  | |
 N.Y. COMEX COPPER OPG TRENDS 7-APR OPEN P SETT APR7 6270B 6280A 6255 MAY7 6290 6265 JUN7 6265B 6275A 6250 JUL7 6250 6235 SEP7 6275 6250 DEC7 6270 6275 JAN8 6305B 6315A 6290 MAR8 6340B 6350A 6325 MAY8 6380B 6390A 6365 JUL8 6420B 6430A 6405 SEP8 6460B 6470A 6445 DEC8 6510B 6520A 6495 JAN9 6525B 6535A 6510  | |
 NY COFFEE OPG TRENDS 7-APR OPEN P SETT MAY7 10230L 10250H 10204 JUL7 10390L 10410H 10400 SEP7 10600L 10620H 10605 DEC7 10890L 10899H 10900 MAR8 11100 11050 MAY8 11150B 11300A 11250 JUL8 11300B 11350A 11413 SEP8 11350B 11487  | |
Country movement of corn and soybeans increased modestly this morning and basis bids were steady to higher cash grain dealers said. Basis bids firmed in response to lower rates for barge freight traders said noting that the Ohio River is swelling with snow runoff discouraging barge loadings because of the high water levels. Moderate bookings continued in new crop soybeans mostly for January 1988 delivery with farmers pricing at least a portion of their crop at five dlrs a bushel or better when bids emerge at that level they said. Movement in Iowa was expected to slow considerably in the next few days as farmers are beginning field work they said. Dealers bid 104 and offered 106 pct for PIK certificates. CORN SOYBEANS TOLEDO 5 UND MAY UP 1 2 UND MAY UNC CINCINNATI 1 OVR MAY UP 2 3 OVR MAY UP 2 NEW HAVEN 12 UND MAY UNC 4 UND MAY UNC N.E. INDIANA 11 UND MAY UNC MAY PRICE UNC CHICAGO 4 UND MAY UNC 3 UND MAY UP 2 PEKIN 2 UND MAY UP 1 2 UND MAY UP 1 DECATUR 1 UND MAY UNC 2 OVR MAY UNC DAVENPORT 3 UND MAY UP 3 4 UND MAY UP 1 CEDAR RAPIDS 9 UND MAY UP 1 14 UND MAY UP 1 HRW WHEAT TOLEDO 58 LB 25 OVR MAY UNC CHICAGO 57 LB 35 OVR MAY UNC CINCINNATI DP 10 OVR MAY UNC NE INDIANA DP 10 OVR MAY UNC PIK CERTIFICATES - 104 PCT BID/106 PCT OFRD UNC NC - NO COMPARISON UA - UNAVAILABLE UNC - UNCHANGED DP - DELAYED PRICING Reuter | MIDWEST CASH GRAIN - MODEST MOVEMENT, BIDS FIRM |
 LONDON SILVER INDICATION AT 1500 - APR 7 London metal dealers indicating Silver three months at 420.0 to 422.0 pence per troy ounce.  | |
 N.Y. MERCANTILE DELIVERY NOTICES - APRIL 7 PLATINUM Delivery for Apl 7 Prudential Bache 1 Barnes 1. total 2. Acceptances for Apl 7 Cargill 1 and Merrill Lynch 1. total 2. PALLADIUM Delivery for Apl 7 nil. Acceptance for Apl 7 nil. Reuter  | |
 NY COCOA 1000 MAY7 1928 OFF 6 JUL7 1960 OFF 7 SEP7 1982 OFF 7 DEC7 2013 OFF 2 MAR8 UNTRD MAY8 UNTRD JUL8 UNTRD SEP8 UNTRD  | |
Country movement of corn and soybeans increased modestly this morning and basis bids were steady to higher cash grain dealers said. Basis bids firmed in response to lower rates for barge freight traders said noting that the Ohio River is swelling with snow runoff discouraging barge loadings because of the high water levels. Moderate bookings continued in new crop soybeans mostly for January 1988 delivery with farmers pricing at least a portion of their crop at five dlrs a bushel or better when bids emerge at that level they said. Movement in Iowa was expected to slow considerably in the next few days as farmers are beginning field work they said. Dealers bid 104 and offered 106 pct for PIK certificates. Reuter | MIDWEST CASH GRAIN - MODEST MOVEMENT, BIDS FIRM |
 NY COMEX SILVER 10:00 APR7 6670 UP 122 MAY7 6695 UP 115 JUN7 6770 UP 153 JUL7 6785 UP 131 SEP7 6860 UP 130 DEC7 6965 UP 127 JAN8 UNTRD MAR8 7100 UP 154 MAY8 7250 UP 225  | |
 NY COMEX GOLD 10:01 APR7 4205 UP 20 MAY7 UNTRD JUN7 4235 UP 9 AUG7 4280 UP 7 OCT7 4335 UP 18 DEC7 4375 UP 14 FEB8 4425 UP 18 APR8 UNTRD JUN8 UNTRD AUG8 UNTRD OCT8 UNTRD DEC8 UNTRD FEB9 UNTRD  | |
 NASDAQ COMP 10:01 COMP 437.04 OFF 0.74  | |
UNISYS OFFERS EIGHT NEW MODELS OF ITS A15 LARGE MAINFRAME COMPUTER |
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Comex silver futures opened 15 to 18 cents higher and then retreated slightly as followthrough buying slowed. May was up 12.5 cents at 6.705 dlrs from a high of 6.75 dlrs. July was up 13.1 cents at 6.785 dlrs from 6.84 dlrs. Traders said large commission houses were buyers on the open but encountered profit-taking and a slowdown in orders. Some traders said the market is starting to look overbought technically and vulnerable to a correction. But they added that speculators continue to view the market as a good buy relative to gold. Reuter | COMEX SILVER FUTURES SOAR AT OPENING |
 ECU/EUA - APRIL 7 BFR COM 43.0395 US 1.14034 BFR FIN 43.1991 SFR 1.72386 DMK 2.07828 SPAIN 145.679 DFL 2.34512 SKR 7.23834 STG 0.704134 NKR 7.77430 DKR 7.83075 CAN 1.49100 FFR 6.91391 PORT 160.618 LIT 1480.74 FINLAND 5.06598 IRL 0.777331 YEN 165.464 GREECE 152.510  | |
The Bank of England said it provided the money market with late assistance of around 205 mln stg. This takes the Banks total help today to some 713 mln stg and compares with its latest estimate of a system deficit of around 900 mln stg. REUTER | U.K. MONEY MARKET GIVEN 205 MLN STG LATE HELP |
Photon Technology International said it signed a research and development agreement with <M-L Technology Ventures L.P.> a research and development limited partnership sponsored by Merrill Lynch Capital Markets The agreement calls for MLTV to pay Photon more than 3.1 mln dlrs over a three-year period to develop new electro-optical technologies with applications in the medical field the company said. In 1988 MLTV may at its option have the right to acquire warrants to purchase during the next six years 475000 shares of the companys common stock at 6.50 dlrs per share adjusted for future earnings Photon said. Reuter | PHOTON TECHNOLOGY <PHON> FINALIZES AGREEMENT |
The Federal Home Loan Bank Board adjusted the rates on its short-term discount notes as follows: MATURITY NEW RATE OLD RATE MATURITY 30-176 days 5.00 pct 5.00 pct 30-273 days 177-195 days 5.83 pct 5.90 pct 274-294 days 196-271 days 5.00 pct 5.00 pct 295-344 days 272-295 days 5.91 pct 5.93 pct 345-360 days 296-341 days 5.00 pct 342-346 days 5.90 pct 347-360 days 5.00 pct Reuter | FHLBB CHANGES SHORT-TERM DISCOUNT NOTE RATES |
CBT corn futures were expected to open steady to firmer supported by a much larger than expected weekly corn export inspection figure yesterday traders said. Modest country movement will allow an initial advance. ---- Original holders of expired generic commodity certificates that expired from December 31 1986 through March 31 1987 may exchange the certificates for cash the USDA said...The USDA reported U.S. soybean export inspections totalled 10844000 bushels in the week ended April 2 compared to 17683000 the previous week and 13979000 bushels in the year ago week with wheat 16363000 bushels 20717000 and 11253000 respectively and corn 46652000 bushels 36581000 and 13844000 bushels respectively. Reuter | CBT CORN FUTURES EXPECTED STEADY TO FIRMER |
 MONEY RATES - INTERNATIONAL SUMMARY - APR 7 U.S. Fed funds 6-1/8 Broker loan 7.50-7.25 30 60 90 T-bills 5.39/37 5.40/38 5.52/51 Cds dir 5.95 6.00 6.00 Comm paper dir 6.16 6.16 6.13 INTERNATIONAL CALL 1 MONTH 3 MONTH Ldn 10-1/4 1/8 10-1/16 9-15/16 9-7/8 3/4Fft 3.60/70 3.80/85 3.80/90 Par unav unav unav Zur 7/8 1-1/8 2-15/16 3-1/16 3-1/2 5/8 Ams 5-3/8 1/2 5-5/16 7/16 5-5/16 7/16Tok 3.6250 6875 3.8125 8750 3.9375 4.0000  | |
Weakness in the dollar and a subsequent easing of bond prices underscored Wall Streets lingering anxiety with interest rates and inflation and prompted investors to take some profits. The decline though mild was broad based. The Dow Jones Industrial Average which recorded its 33rd record high of the year yesterday when it passed the 2400 level for the first time fell 10 points to 2396 this morning. Declines led advances three to two on volume of 19 mln shares. Bellsouth led the actives with a loss of 1/4 to 39-1/4. IBM fell 1/4 to 149-1/8. Reuter | WALL STREET STOCKS LOWER IN EARLY TRADING |
VOLCKER SAYS FURTHER SIZEABLE DECLINE IN DOLLAR COULD BE COUNTERPRODUCTIVE |
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Turnover on the London International Financial Futures Exchange (LIFFE) rose to 1.16 mln contracts in March up from 517746 a year earlier figures issued by the International Commodities Clearing House (ICCH) show. Turnover for the whole of the first quarter was 2.87 mln contracts against 1.52 mln in the same period last year. The biggest increases in March were seen for gilt options long gilt futures and short sterling the ICCH figures show. Key figures given by the ICCH were as follows- March 87 March 86 Gilt options 92182 19046 Stg/dlr options 2640 14375 FTSE 25741 10444 Short sterling 147863 72118 20-year gilt 700102 172564 Eurodollars 107988 71671 T-bonds 72319 136749 Reuter | LIFFE VOLUMES HIGHER IN MARCH |
 AMEX DELAY - HUDSON FOODS INC <HFI> INFO REQUESTED LAST 20  | |
THE FOLLOWING RAINFALL WAS RECORDED IN THE AREAS OVER THE PAST 24 HOURS PARANA STATE: UMUARAMA NIL PARANAVAI NIL LONDRINA NIL MARINGA NIL. SAO PAULO STATE PRESIDENTE PRUDENTE NIL VOTUPORANGA NIL FRANCA NIL CATANDUVA NIL SAO CARLOS NIL SAO SIMAO NIL. MINAS GERAIS STATE: GUAXUPE 33.0 MILLIMETRES TRES PONTAS 5.0 MM. REUTER | BRAZILIAN COFFEE RAINFALL |
Cargill U.K. Ltds oilseed processing plant in Seaforth northwest England will resume operations tomorrow morning following settlement of a labour dispute which has paralysed production there since December 19 a company spokesman said. It is likely to resume deliveries of soymeal and oil within a couple of days. Force majeure had previously been declared for supplies up to and including May but the company will attempt to fulfill all outstanding contracts the spokesman said. Reuter | CARGILL U.K. STRIKE ENDS |
VOLCKER SAYS EXCHANGE RATE ADJUSTMENT ENOUGH TO NARROW U.S. TRADE DEFICIT |
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 N.Y. MONEY OPENING - APR 7 Federal funds 6-1/8 Prime rate 7.75 Broker loan 7.50-7.25 COMM PAPER THROUGH DEALERS 30-179 days 6.23 COMMERCIAL PAPER PLACED DIRECTLY 30-89 days 6.16 90-119 days 6.13 120-179 days 6.06 180-270 days 6.03 BANKERS ACCEPTANCES (TOP NAME DEALER) 30-119 days 6.16 120-179 days 6.15 180-209 days 6.14 BANKERS ACCEPTANCES (BANKS BID/ASK) 30-179 days 6.17/07 180-- days 6.17/07 TREASURY BILLS 90 days 5.52/51 180 days 5.67/66 360 days 5.76/75 CERTIFICATES OF DEPOSIT 30-59 days 5.95 60-119 days 6.00 120-269 days 6.08 270-359 days 6.15 360-390 days 6.20 MOODYS YIELD FIGURES Aaa corp unav Aaa utilities unav Aa rails unav  | |
 OMAHA AVERAGE PRICE/WEIGHTS -- APRIL 7 - USDA For April 6 WEIGHT PRICE BARROWS-GILTS 251 49.63 YEAR AGO 249 38.70 ALL HOGS 289 48.10 YEAR AGO 280 38.57 Reuter  | |
THE FOLLOWING RAINFALL WAS RECORDED IN THE 24 HOURS UP TO (1200) GMT TODAY PARANA STATE: CASCAVEL NIL PONTA GROSSA 0.2 MILLIMETRES CAMPO MOURAO NIL LONDRINA NIL MARINGA NIL. RIO GRANDE DO SUL STATE: PASSO FUNDO NIL SANTA MARIA NIL CRUZ ALTA NIL SAO LUIZ GONZAGA NIL. REUTER | BRAZILIAN SOY RAINFALL |
 N.Y. METALS FUTURES ESTIMATED VOLUMES- APRIL 7 Time 10.00 Silver 8000 Copper 900 Gold 4500 Aluminum 0 Palladium ---- Platinum ---- Reuter  | |
 MCDERMOTT INTERNATIONAL 470800 AT 29 OFF 3/4 CROSSED BY FIRST BOSTON  | |
VOLCKER SAYS REDUCING U.S. BUDGET DEFICIT NEEDED TO IMPROVE TRADE BALANCE |
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U.S. interest rate futures were lower in quiet early activity. A weak dollar pressured debt futures. Remarks made yesterday by Council of Economic Advisers Beryl Sprinkel that the U.S. has no target value for the dollar continued to impact the market traders said. The market awaited action by finance ministers of the G-5 nations who are to meet today. Pending any action that would strengthen the dollar June Treasury bonds were expected to remain below chart resistance at 98-16/32 traders said. Chart support was cited at 97-23/32 on a day-trading basis and at 97-3/32 on a longer-term basis. At 0950 EDT CBT T-bonds ranged from down 16/32 to 11/32 point T-notes fell 10/32 to 11/32 and muni bonds were down 9/32 point. IMM T-bills were 3 to 5 basis points lower and Eurodollars fell 4 to 7 basis points. Reuter | U.S. DEBT FUTURES LOWER IN QUIET OPEN |
 LONDON EURODEPOSITS YEN AFTERNOON - APRIL 7 one week 3-7/8 3/4 1 month FOUR 3-7/8 two FOUR 3-7/8 three FOUR 3-7/8 six FOUR 3-7/8 twelve FOUR 3-7/8  | |
 IOM LUMBER OPG TREND 7-APR OPEN P SETT MAY7 18820 19080 JUL7 17900 18140 SEP7 17260 17540 NOV7 16650A 16790 JAN8 -- 16650 MAR8 -- 16550 MAY8 -- --  | |
 SDR RATE U.S. - APR 7 1.28435 compared with 1.28224 yesterday.  | |
Light mixed buying around the rings boosted U.S. energy futures to new daily highs after a slightly firmer open traders said. May crude jumped 15 cts to 18.82 dlrs a barrel nearing the top end of a 17.75-18.85 dlrs resistance range. Traders said firmness in the North Sea Brent cash crude market plus reports of escalation in the Iran/Iraq war lent support to crude futures. April 15-day forward Brent crude traded as high as 19.40 dlrs a barrel today. Traders said resistance continues overhead near 19.00 dlrs a barrel for May crude futures. Gasoline continued to post larger gains than heating oil and to trade at a premium to two oil futures. May gasoline was up 0.56 cent to 53.50 cts a gallon at resistance. May heating oil was up 0.36 cent to 49.15 cts a gallon. Both contracts were off 0.05 cent from this mornings high. Reuter | U.S. ENERGY FUTURES POST GAINS AFTER FIRM OPEN |
 MIDWEST HIGH-LOWS AND PRECIPITATION-APRIL 7 HIGHEST TEMPERATURE YESTERDAY LOWEST TEMPERATURE LAST 12 HOURS. PRECIPITATION FOR 24-HOURS ENDING 0600 HRS CST. ILLINOIS WISCONSIN CHICAGO 60 36 MILWAUKEE 54 41 DECATUR 59 40 .02 MADISON 64 33 PEORIA 66 39 LACROSSE 70 37 QUINCY 57 38 INDIANA ROCKFORD 66 29 EVANSVILLE 50 44 t IOWA INDPLS 51 41 t DES MOINES 67 36 FT WAYNE 53 44 t SPENCER 69 n/a SOUTH BEND 59 38 WATERLOO 67 34 LAFAYETTE 58 43 t BURLINGTON 66 35 TERRE HAUTE 54 42 t IOWA (CONTINUED) MISSOURI CEDAR RAPIDS 66 34 KIRKSVILLE 58 38 DUBUQUE 64 40 ST JOSEPH n/a SIOUX CITY 66 33 KANSAS CTY 56 37 MICHIGAN COLUMBIA 54 37 ALPENA 64 36 ST LOUIS 55 44 t DETROIT 53 46 .03 JOPLIN 57 40 FLINT 56 37 SPRINGFLD 55 42 .02 GRAND RAPIDS 63 39 VICHY 53 42 t LANSING 60 37 MONETT 53 40 t PELLSTON 64 30 W PLAINS n/a SAGINAW 58 38 NORTH DAKOTA S.S. MARIE 65 35 BISMARK 66 31 TRAVERSE CTY 59 28 FARGO 71 32 SOUTH DAKOTA NO DAKOTA (CONT) ABERDEEN 69 31 GRAND FORKS 67 33 HURON 70 34 MINOT 66 41 PIERRE 67 35 NEBRASKA RAPID CITY 64 30 GRAND ISL 60 33 SIOUX FLS 67 30 LINCOLN 63 31 KANSAS NORFOLK 64 32 DODGE CITY 57 42 OMAHA 61 41 RUSSELL 53 40 VALENTINE 64 24 HUTCHINSON 54 46 MINNESOTA WICHITA 55 43 ALEXANDRIA 70 39 CONCORDIA 55 38 MPLS/ST.PAUL 70 36 TOPEKA 55 38 t ROCHESTER 66 35 BELOIT 56 39 ST CLOUD 70 34 Reuter  | |
VOLCKER SAYS MORE STIMULUS ABROAD NEEDED FOR ADJUSTMENTS IN TRADE BALANCES |
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CBT soybean futures were expected to open steady possibly easier on a disappointing weekly soybean export figure below the previous week and year ago levels and moderate country movement overnight traders said. The outlook for increased Brazilian harvest pressure later this month and the settlement of the Brazilian seamen strike will add to the negative sentiment in old crop. ---- Brazils soybean harvest was 24 pct complete by April 3 compared with an average of 36 pct the Safras and Mercado newsletter said with Rio Grande do Sul 10 pct and 17 pct respectively Parana 55 and 63 pct respectively Mato Grosso do Sul 30 and 36 pct Mato Grosso 10 pct and NA Goias 10 pct and NA and other states 25/30 and 36 pct respectively. Reuter | CBT SOYBEAN FUTURES EXPECTED STEADY TO EASIER |
CBT wheat futures were expected to open steady supported by followthrough speculative buying after yesterdays strong close when new contract highs were set in new crop traders said. However rumors that several countries have passed on their tenders for U.S. wheat or taken wheat from other exporting countries may keep nearbys on the defensive. ---- The USDA will issue this week a swap catalogue of government-owned grain that storage-surplus elevators will be able to swap with storage-deficit locations a senior USDA official said...Wheat and rapeseed crops in east China suffered considerable damage due to frost during a spell of unusually cold weather in late March the China daily said. Reuter | CBT WHEAT FUTURES EXPECTED TO OPEN STEADY |
The U.S. Agriculture Department gave a preliminary breakdown of grain in the Farmer-Owned Grain Reserve as of April 1 with comparisons based on telephone reports from farmers filed with the departments Kansas City field office in mln bushels -- April 1 Previous Wheat 657.6 659.7 Corn 1406.5 1397.0 Sorghum 95.8 95.5 Barley 122.1 122.0 Oats 3.7 3.7 Reuter | GRAIN RESERVE HOLDINGS -- USDA |
 DIAMOND SHAMROCK CORP 100000 AT 16-1/2 UNCH CROSSED BY FIRST BOSTON  | |
Shr primary 34 cts vs 17 cts Shr diluted 33 cts vs 17 cts Net 1487000 vs 686000 Rev 19.8 mln vs 8.8 mln Nine months Shr primary 77 cts vs 43 cts Shr diluted 75 cts vs 43 cts Net 3240000 vs 1710 000 Rev 42.2 mln vs 25.0 mln NOTE: Companys full name is On-Line Software International Inc. The qtr and year-to-date results include the operations since the end of October 1986 of a business purchase from Martin Marietta Corp <ML>. In fiscal 1987 ending May 31 the company initially adopted FASB statement number 86 and as required capitalized certain software deveopment costs. During the qtr and nine months period ended Febraury 28 1987 the company capitalized pre-tax amounts of 746000 dlrs and 1445000 dlrs of development costs respectively. Reuter | ON-LINE SOFTWARE <OSI> 3RD QTR FEB 28 NET |
CBT soyproduct futures were called steady to slightly easier in sympathy with expected weakness in soybeans traders said. Soybean crush ratios remained under pressure yesterday so further decline in the U.S. soybean crush rate is needed before soyproducts can begin to show strength relative to soybeans they added. ---- Malaysian palm oil trimmed initial gains on trade-talk that Pakistan passed on its tender for 6000 tonnes of PBD palm oil...Rotterdam vegetable oils were steady to slightly firmer at midday with meals and feeds mixed. Reuter | CBT SOYPRODUCT FUTURES EXPECTED STEADY/EASIER |
The U.S. Agriculture Department gave the following breakdown of grain remaining in the farmer-owned grain reserve as of April 1 in mln bushels by reserve number -- I II III IV V VI Wheat nil nil 0.1 0.3 10.5 479.7 Corn -- -- -- 4.1 1231.9 -- Sorghum-x -- -- -- 0.1 38.8 -- Barley -- -- -- 0.1 73.9 -- x - mln cwts. Note - USDA says above totals may not match total in reserve numbers. Reuter | GRAIN RESERVE HOLDINGS BREAKDOWN |
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