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 LONDON LIFFE FTSE INDEX CLOSE 1540 - APR 7 MTH LAST HIGH LOW PR.SET Jun 20345 20400 20205 20380 Sep --- --- --- 20830 Dec --- --- --- 16760  | |
This weeks Group of Seven (G-7) meeting in Washington provides an opportunity to verify an accord reached at the Tokyo summit last May to include Italy and Canada in Group of Five (G-5) talks on management of the international monetary system and related issues the Italian Treasury said. It said in a statement the G-7 meeting which Italy plans to attend will provide a forum for considering the Tokyo accord in the light of events in Paris in February this year. On February 22 Italy boycotted a meeting in Paris of its G-7 partners - the United States Japan West Germany France Britain and Canada - after being excluded from an earlier session of talks involving G-5 members. Todays statement from the Italian Treasury said- Nobody denies the existence of G-5 but we should like it to be remembered that the Tokyo accords provided for the enlargement of the group to Italy and Canada whenever the management or the improvement of the international monetary economic policy measures are to be discussed or dealt with. Italy refused to attend the Paris G-7 meeting on the grounds that G-5 grouping the United States Japan West Germany France and Britain had reduced Italys role to rubber stamping agreements already taken. The Italian Treasury said today that Italy was certain that this time incidents would not occur. But it said it would be opportune to look in depth at the role and the procedures of G-7 in relation to those of G-5. REUTER | ITALY SAYS G-7 GIVES CHANCE TO VERIFY TOKYO ACCORD |
 ZURICH DOLLAR FORWARDS 1630 - APRIL 7 one month 0047/0044 two 0084/0081 three 0114/0111 six 0228/0220 twel INTERRUPTED  | |
 ZURICH DOLLAR FORWARDS 1630 - APRIL 7 one month 0047/0044 two 0084/0081 three 0114/0111 six 0228/0220 twelve 0445/0425 all discs.  | |
 ZURICH GOLD CLOSING - APRIL 7 pool 417.00-420.00 (419.00-422.00 at 15.15) interbank 418.50-419.00 (420.00-420.50 at 15.15)  | |
 LME ALUMINIUM AFT 1ST RING 1542 - APR 7 LAST BUYER SELLER Cash -- -- -- 3 Months 806.0 805.5 806.5  | |
Kuwait has asked at least four countries including the United States Soviet Union Britain and China for temporary use of their flags or tankers to protect Kuwaiti oil shipments in the troubled Persian Gulf Reagan Administration officials said. The officials confirmed a New York Times report that Kuwait wants to transfer some of its oil tankers to U.S. or Soviet registration in hopes Iran would be reluctant to launch new Silkworm missiles at superpower flags. The United States has vowed to keep the gulf open to international oil traffic and has warned Tehran against using the Chinese-made missiles recently installed in Iran near the mouth of the gulf. They (the Kuwaitis) have also asked Britain China and possibly some other European countries to lease tankers to carry their oil one of the administration officials who asked not to be identified told Reuters. The United States is considering the request to temporarily transfer Kuwaiti ships to American registration but such a move could create insurance and other problems the officials said. U.S. defense officials told Reuters yesterday that Kuwait had decided for at least the time being not to accept a U.S. offer to use American warships to escort its tankers in the gulf where both Iran and Iraq have been attacking shipping. Reuter | KUWAIT SAID SEEKING FOREIGN PROTECTION FOR OIL |
 LONDON MONEY RATES - APRIL 7 SECURED FUNDS day to day 10-1/2 TO 10 PCT seven days 10 PCT ONLY ELIGIBLE BANK BILLS 1 month 9-13/16 25/32 two 9-45/64 43/64 three 9-17/32 15/32 six 9-5/32 1/8 TREASURY BILLS three 9-1/2 ONLY  | |
 PEORIA PREVIOUS DAY AVG HOG PRICE/WEIGHT-USDA PRICES/DLRS WEIGHTS/LBS ALL HOGS 48.40 293 WEEK AGO 47.98 275 YEAR AGO 39.33 288 BUTCHERS 49.58 247 WEEK AGO 49.10 244 YEAR AGO 38.95 241 SOWS 45.75 506 WEEK AGO 44.31 478 YEAR AGO 40.11 472 17 PCT SOWS PREVIOUS DAY Reuter  | |
State-owned engine maker <Rolls Royce Plc> launches its prospectus for privatisation tomorrow with many analysts forecasting higher profits this year. But it is likely to miss contracts to power the proposed <Airbus Industrie> A340 aircraft. The companys so-called pathfinder prospectus gives all the details of its stock market flotation except for the price at which shares will be offered. Last month the company announced that pretax profits rose in 1986 to 120 mln stg from 81 mln the year before. Brokers Barclays de Zoete Wedd BZW sees 155 mln profit for 1987. Analyst Tim Harris of Phillips and Drew said rising profits and a low tax charge would be offset by the fact that Rolls operated in a sector which traditionally attracted low ratings. Assuming the company was valued at around eight times earnings this would give a selling price valuing it at about 1.2 billion though he said the recent good performance of the aerospace sector could nudge this figure upwards. BZW is currently forecasting a higher sale price at between 1.5 billion and 1.7 billion. The price will be increased by it being likely to have much of its debt wiped off by a government anxious to assure the companys health when it has to fend for itself. Rolls was rescued from bankruptcy and taken into state ownership in 1971. When the government announced the sale it said it would inject permanent capital equivalent to net debt -- around 250 mln stg at end-1986 -- into the company. Analysts noted this was necessary to ensure Rolls a credit rating to match those of its main competitors such as General Electric Co <GE.N> and United Technologies Corps <UTX.N> Pratt and Whitney unit. Reuter | ROLLS APPROACHES FLOAT WITH PROFITS SET TO RISE |
846 JUL7 877A 877 OCT7 -- 926 DEC7 -- 953 OATS OPEN P SETT MAY7 752A 755 JUL7 720A 722 OCT7 -- 702 DEC7 -- 700 BARLEY OPEN P SETT MAY7 777A 779 JUL7 787B 790 OCT7 737A 738 DEC7 732H 732L 733 MAR8 -- 739 FLAX OPEN P SETT MAY7 1920H 1920L 1907 JUL7 1975B 1960 OCT7 2050B 2040 DEC7 2089H 2089L 2080 MAR8 2130B 2125 WHEAT OPEN P SETT MAY7 856A 857 JUL7 856A 857 OCT7 832H 832L 832 DEC7 829B 829 VANCOUVER RAPESEED OPEN P SETT JUN7 2213L 2218H 2213 SEP7 2288L 2290H 2286 NOV7 2332H 2332L 2324 JAN8 2380T 2381B 2373 MAR8 2415B 2410 | WINNIPEG GRAIN OPG TRENDS 7-APR |
 MIDWEST GRAIN FUTURES OPG TRENDS 7-APR KANSAS CITY WHEAT OPEN P SETT MAY7 274H 273 3/4L 274 JUL7 264H 263 1/2L 263 SEP7 266 265 1/4 DEC7 271 1/2 270 3/4 MAR8 271A 270 MINNEAPOLIS WHEAT OPEN P SETT MAY7 284 1/2A 283 1/2 JUL7 280 3/4A 280 3/4 SEP7 277 1/4 276 DEC7 280B 281 3/4 MAR8 277B 277  | |
 NY COTTON OPG TRENDS 7-APR OPEN P SETT MAY7 5580L 5590H 5580 JUL7 5505L 5515H 5490 OCT7 5515 5505 DEC7 5500 5475 MAR8 5600 5565 MAY8 5630B 5700A 5617 JUL8 5630B 5700A 5647 OCT8 -- --  | |
 BUSPRS JOHANNESBURG CLSG - 7 April^M DE BEERS 3950 ERGO 2650 E R P M 2700 GROOTVL 1660 RANDFNT 43500 W R CONS 1430 KINROSS 5750 LESLIE 590 BUFFELS 7500 HARTIES 2625 SOVAAL 20800 STILFNTN 2400 OFSILS INVALID CODE HARMONY 4300 FREEGOLD 5250 ST HELENA 5625  | |
 LME NICKEL AFT 1ST RING 1547 - APR 7 LAST BUYER SELLER Cash -- -- -- 3 Months 2355 2355 2360  | |
barrow and gilt prices were mostly 0.50 dlr higher instances up 1.00 dlr than mondays midsession the usda said. Top 52.00 dlrs per cwt. us 1-3 210-250 lbs 49.50-50.50 few 49.00-51.00 at country points. us 1-3 210-250 lbs 50.00-51.50 few 52.00 at packing plants. sows - firm/up 1.00 dlr. top 45.00 dlrs. us 1-3 300-650 lbs 40.00-44.00 at country. us 1-3 300-650 lbs 41.00-45.00 at plants. Reuter | IA SO-MINN DIRECT HOGS UP 0.50/1.00 DLR - USDA |
 CME 10:45 EDT L-CATTLE APR7 69.52 UP 0.12 JUN7 64.95 OFF 0.07 AUG7 60.70 OFF 0.17 F-CATTLE APR7 68.95 OFF 0.15 MAY7 68.05 OFF 0.17 AUG7 66.50 UP 0.10 HOGS APR7 50.07 UP 0.25 JUN7 48.75 UP 0.28 JUL7 47.25 UP 0.38 BELLIES MAY7 66.17 OFF 0.23 JUL7 64.57 OFF 0.28 AUG7 61.50 OFF 0.10 FEB8 55.85 UP 0.25  | |
 JOHANNESBURG QRS CLSG 7 April JAB 39.25 JTN 6.00 JDE 39.50 JEO 27.00 JGP 16.60 JLZ 5.90 JFO 75.00 JIL 24.00 JLG 27.00 JVR 398.00 JOS 133.25 JFR 52.50 JSH 56.25 JDG 15.30 JWF 71.25 JER 37.50 JKA 37.75 JWD 198.00 JMD 4.00 JSM 8.30 JRP 48.50 JAA 72.00 JWV 63.00 JAM INVALID CODE JIM 48.00 JEL 12.90 JWR 14.30 JAC 23.25 JBR 8.75 JDF 57.00 JDU 41.75 JEG 26.50 JAT 0 JPA 28.50  | |
Cattle prices were up 0.50 to 1.00 dlr at the opening private sources said. Steer top 68.00 and Heifers 65.50 dlrs. Reuter | SIOUX CATTLE OPEN UP 0.50/1.00 DLR - PRIVATE |
Hog prices advanced 1.25 dlr at the opening private sources said. Top 51.75 dlrs per cwt. Reuter | SIOUX CITY HOGS OPEN UP 1.25 DLR - PRIVATE |
Hog prices opened 1.00 dlr higher private sources said. Top 51.50 dlrs per cwt. Reuter | ST JOSEPH HOGS OPEN UP 1.00 DLR - PRIVATE |
MINNEAPOLIS WHEAT MAY7 284 1/2 UP 1 JUL7 280 1/4 OFF 1/2 SEP7 276 1/2 UP 1/2 DEC7 -- -- MAR8 -- -- | MIDWEST GRAIN FUTURES 10:50 EDT |
 CBT 10:50 EDT WHEAT MAY7 287 3/4 UP 1 1/2 JUL7 273 1/2 UP 3/4 SEP7 273 1/2 UP 1/2 DEC7 278 3/4 UP 3/4 MAR8 278 UP 3/4 CORN MAY7 159 1/4 UP 1 JUL7 162 1/2 UP 3/4 SEP7 167 1/2 UP 1 1/4 DEC7 175 1/4 UP 1/2 MAR8 182 1/4 UP 1/2 OATS MAY7 150 UNCH JUL7 138 3/4 UP 1/4 SEP7 128 1/2 UP 1/4 DEC7 134 1/2 UP 1/2 MAR8 UNTRD BEANS MAY7 500 3/4 UP 1 JUL7 501 1/2 UP 1 1/4 AUG7 501 1/2 UP 2 SEP7 497 UP 3 NOV7 498 UP 2 JAN8 504 1/2 UP 2 MEAL MAY7 1454 UP 1 JUL7 1452 UP 1 AUG7 1454 UP 4 SEP7 UNTRD OCT7 1453 UP 2 OIL MAY7 1552 UP 9 JUL7 1587 UP 9 AUG7 1599 UP 4 SEP7 1616 UP 5 OCT7 1627 UP 2  | |
3250 tonnes mainly carries cash nil 3months 880.00 79.00 STANDARD - Nil LEAD - 350 tonnes mainly carries cash nil 3months 302.00 ZINC HIGH GRADE - 1750 tonnes mainly carries cash nil 3months 456.00 57.00 58.00 56.00 SILVER LARGE and SMALL - Nil ALUMINIUM - 3200 tonnes mainly carries cash nil 3months 806.50 06.00 NICKEL - 216 tonnes mainly carries cash nil 3months 2355 REUTER | LME METAL PM 1ST RING VOLUMES/PAIDS - APR 7 |
 MILAN DOLLAR/LIRA AFTERNOON - APR 7 SPOT 1300.00/1301.00 QUOTATIONS FOR DEALS WITH RESIDENTS ONE MONTH 2.70/3.20 TWO MONTHS 5.60/6.10 THREE MONTHS 8.25/9.25 SIX MONTHS 16.50/18.50 12 MONTHS 38.00/42.00 WITH NON-RESIDENTS ONE MONTH 3.30/3.70 TWO MONTHS 6.40/6.90 THREE MONTHS 9.50/10.25 SIX MONTHS 19.25/20.25 12 MONTHS 41.50/44.50 (ALL DISCOUNTS)  | |
Federal Reserve Board Chairman Paul Volcker said a further large drop in the value of the dollar could be counterproductive for world economic growth. Testifying before the Senate Banking Committee Volcker said that Europe and Japan were slowing exports and that growth in those countries was also decreasing. (NRFD 1428) NEW YORK - The dollar held onto its gains which were made with the help of remarks by Fed Chairman Paul Vocker. His comment that a further sizeable decline could be counter-productive helped the U.S. Currency recover to the unchanged level of 1.8265/73 marks. (NYFC 1433) WASHINGTON - U.S. Treasury Secretary James Baker holds talks with counterparts from Europe and Japan to urge them to carry out commitments in a recent accord to speed their economic growth. (NREC 1302) WASHINGTON - Federal Reserve Board Chairman Paul Volcker said that debtor nations have made much progress in laying the groundwork for economic growth but a solution to world debt difficulties was endangered by inaction on new financing. (NRFM 1439) LONDON - Gold bullion eased to an afternoon fix of 418.50 dlrs 258.653 stg an ounce in sympathy with lower values on Comex dealers said. The market remained fairly quiet however and was still being overshadowed by silver. (GDLS 1457) WASHINGTON - Shifts in domestic economic policy not a further fall in the dollar or trade restrictions are the key to reducing imbalances in trade and payments Dutch Finance Minister H.Onno Ruding said. (NRFA 1417) REUTER | REUTER MONEY NEWS HIGHLIGHTS 1445 GMT APRIL 7 |
 NY COTTON 10:55 MAY7 5620 UP 40 JUL7 5520 UP 30 OCT7 5515 UP 10 DEC7 5520 UP 45 MAR8 5600 UP 35 MAY8 UNTRD JUL8 UNTRD OCT8 UNTRD  | |
Live cattle futures ran up for gains of 0.40 to 0.07 cent and again posted new seasons highs in all months before slipping to trade 0.10 cent higher to 0.12 lower in latest dealings. Futures ran up to new highs at the start on general carryover demand prompted by strong fundamentals. Higher live calls tight market ready supplies and private reports of strength in cash beef stimulated demand. Strong stoppers of deliveries added to strength in April traders said. Professional and commission house profit-taking weighed on prices in latest trade they said. Reuter | LIVE CATTLE FUTURES SET NEW HIGHS, THEN SLIP |
Hog prices opened 1.50 dlr higher private sources said. Top 52.00 dlrs per cwt. Reuter | SIOUX FALLS HOGS OPEN UP 1.50 DLR - PRIVATE |
Hog prices opened 1.50 dlr higher private sources said. Top 51.50 dlrs per cwt. Reuter | KANSAS CITY HOGS OPEN UP 1.50 DLR - PRIVATE |
Gold bullion eased to an afternoon fix of 418.50 dlrs 258.653 stg an ounce in sympathy with lower values on Comex dealers said. The market remained fairly quiet however and was still being overshadowed by silver. After opening slightly lower at 421.90/422.40 compared with last nights close of 422.50/423 the market eased to a morning fix of 419.80 as dealers traded on the gold/silver ratio selling gold and buying silver. Platinum was fixed this afternoon at 566.35 dlrs slightly above the morning setting of 565.75. REUTER | LONDON GOLD FIXED AT 418.50 DLRS THIS AFTERNOON |
Federal Reserve Board Chairman Paul Volcker said the performance of the dollar in exchange markets could be a factor in the U.S. central banks decisions on monetary policy. The performance of the dollar in the exchange market might become a factor bearing on our provision of reserves Volcker said in testimony to the Senate Banking Committee. He said that fiscal policy changes in the United States Germany and Japan would be more important that intervention to instill confidence in current exchange rate levels. Reuter | VOLCKER SEES DOLLAR AS FACTOR IN MONETARY POLICY |
Cattle prices gained 0.25 to 0.50 dlr at the opening private sources said. STeer top 67.00 and Heifers 66.50 dlrs. Reuter | SIOUX FALLS CATTLE OPEN UP 0.25-0.50 DLR-PRIVATE |
CBT corn futures traded firmer early holding gains of 1-1/4 cents to 3/4 cent per bushel in moderately light early trade. Yesterdays sharp jump in the weekly corn export figure to about three times last years weekly inspections plus the outlook for a continued active export pace due to the decline in the U.S. dollar this year supported nearbys traders said. Cargill the Illinois Co-op Refco and ADM were the featured buyers of old crop May with CIS a buyer in new crop December pit brokers said. Reuter | CBT CORN FUTURES TRADE QUIETLY MIXED EARLY |
 KCBOT VLA STOCK INDEX VOLUME AND OPEN INTEREST In contracts for April 6 Month Volume Open Change Jun 2343 6368 Up 226 Sep 51 394 Up 24 Dec 2 75 0 Ttl 2396 6837 Up 250 Reuter  | |
 USSR EXCHANGE RATES - SOVIET STATE BANK EFFECTIVE APRIL 1 1987 ROUBLES PER HUNDRED UNLESS STATED U.S. 63.60 (64.07) STG 102.56 (103.41) BFR (1000) 17.01 (16.99) DMK 35.43 (35.24) DFL 31.20 (31.18) LIT (10000) 4.94 (4.96) CAN 48.79 (49.04) DKR 9.32 (9.35) NKR 9.34 (9.30) FFR 10.59 (10.57) SKR 10.06 (10.07) SFR 42.33 (42.05) YEN (1000) 4.34 (4.25) AUS SCH 5.01 (UNCH) AUS DLR 44.77 (43.89) PAK RUP 3.74 (UNCH) IND RUP 5.10 (UNCH) IRN RYL 0.88 (UNCH) LIB DIN (ONE) 2.09 (UNCH) MRC DRHM 7.78 (UNCH)  | |
Equities drifted lower after the easier opening on Wall Street but the London market was depressed from the outset on lack of interest and a feeling that yesterdays gains were overdone dealers said. Much of todays business was inter-professional but dealers noted that despite todays falls and low volume the market still had a firm although cautious undertone. At 1430 GMT the FTSE 100 index was down 8.1 points at 1981.5 compared with an opening 1987.4. Concern over the possibility of a trade war with Japan although less pronounced provided further caution. Yesterday the Japanese finance ministry made moves to try and dispel fears of a trade war by saying it will help to expand the Tokyo Stock Exchange membership to facilitate foreign membership. However British corporate affairs minister Michael Howard has told Japan to resolve the row over Cable and Wireless shareholding in a new Japanese telecommunications company or face an abrupt deterioration in trade relations. Cable and Wireless which has been at the centre of the trade row was up 2p at 372. The latest media opinion polls helped to underpin prices as they strengthened the belief that the ruling Tory party will win the next U.K. General election. Although there is still uncertainty over the timing of the election most dealers polled by Reuters this afternoon thought that June would be the most likely time. A poll conducted for the breakfast television programme TV-AM showed the Conservatives 13 points ahead of the Opposition Labour Party while a poll in the Times newspaper which measured party support in 73 key marginal seats gave the Tories a lead of six points over the labour opposition. Market leader ICI stood unchanged at 1335 but IC Gas slipped 14p to 752 on profit-taking after yesterdays stong gain while Jaguar rose 15p to 590 mainly on U.S demand ahead of a motor show in New York. Pharmaceuticals had Wellcome down 23p to 397 on further profit-taking in the wake of adverse press comment on the side effects of its Retrovir aids drug. London International Group gained 13p to 301 as operators switched out of Wellcome. Extel lost a net 26p to 464 in the wake of yesterdays news that Robert Maxwells British Printing and Communications Corp would not be making a bid for the company. In a generally easier oil sector BP fell 18p to 912 after yesterdays statement by Standard Oil that it considered BPs 70 dlrs per share tender offer for the 45 pct of the company it does not already own as inadequate. In banks Standard Chartered lost 4p to 820 after its recent gains on the back of bid rumours but dealers noted press speculation that Australian businessman Robert Holmes ACourt had increased his stake in the company yesterday. Many operators expect Lloyds bank to renew its offer for Standard once its one year bid limit ends in July although some dealers thought this unlikely. Lloyds gained 1p to 488. Elsewhere industrial group Norcros gained 9p to 448 on speculation of a bid for the company while food retailer Tesco added 2p to 475 after extending its 151 mln stg contested bid for Hillards Plc until May 1. Hillards was a penny up at 314. Government bonds stood generally lower in late trading with prices drifting down on a lack of interest. Gilts gained around 5/16 point at the outset on the back of the opinion polls. Equities tended to move up in later quiet trading as Wall Street rallied from its early lows. At 1556 GMT the FTSE 100 was down just 4.7 points at 1984.9 after a low of 1977.2 at 1354 GMT. Dealers said most in the market appear to expect share prices to move higher tomorrow but volume will remain relatively light ahead of an announcement of the election date. They said given the thin trading conditions the markets movements will be volatile in the coming few sessions. REUTER | EQUITIES DRIFT LOWER ON EASIER WALL STREET OPENING |
The Federal Reserve is expected to intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements economists said. They said the Fed is expected to execute anywhere from 1.5-2.0 billion dlrs of customer repos to offset seasonal pressures on bank reserves. Federal funds which averaged 6.20 pct yesterday opened at 6-1/8 pct and remained there in early trading. Reuter | FED EXPECTED TO SET CUSTOMER REPURCHASES |
Money market interest rates closed little changed after a quiet session as yesterdays talk of lower U.K. Base lending rates fizzled out dealers said. Further opinion polls showing the ruling Conservative Party well ahead had little effect on the market with operators looking for more definite news on the political front. Sterling continued quietly steady ahead of the Group of Seven talks in Washington this week. One senior money broker commented What we want is an election date to put a stop to all the speculation. Once the market knows whats happening then we can move forward. The next move in U.K. Base rates which now stand at 10 pct is still expected to be down but uncertainty over the date of a general election is making for cautious trading dealers said. Yesterday opinion polls showing the Government was set to retain a substantial working majority lifted sterling and fuelled speculation about lower U.K. Interest rates. The British authorities are likely to remain cautious however as the G-7 finance ministers meeting is set to review their February Paris accord on currency stability. This could affect sterling which today was just one basis point lower in trade weighted terms to stand at 72.3. Dealers noted that longer dated paper again dominated the day-to-day dealings between the discount houses and the Bank of England. As rates fell yesterday no band four bills which have a maturity of between two and three months were transacted. Today however these again appeared but the majority of the Banks assistance was provided in the one to two months range. The key one and three months interbank rates were unchanged quoted at 10-1/16 9-15/16 and 9-7/8 3/4 pct respectively. Until fresh economic or political news emerges dealers say they expect the market to continue around these levels with only technical factors provoking small fluctuations in rates. The Bank of England forecast a 900 mln stg shortage in the system today but provided only 713 mln stg assistance. Despite this overnight interbank traded in the 11 to 10 pct range having started the day at around 10-1/4 10 pct. Period interbank rates were little changed with six months quoted at 9-3/4 5/8 and one year at 9-5/8 1/2 pct. Sterling CDs were also mostly steady with six and nine months ending the day at 9-9/16 7/16 pct and 9-1/2 3/8 pct respectively. Eligible bank bill rates showed no change from late yesterday with one month at 9-13/16 25/32 pct and three months at 9-17/32 15/32 pct. REUTER | LONDON MONEY MARKET CLOSES LITTLE CHANGED |
 NY COMEX SILVER 11:00 APR7 6670 UP 122 MAY7 6710 UP 130 JUN7 6770 UP 153 JUL7 6785 UP 131 SEP7 6875 UP 145 DEC7 6950 UP 112 JAN8 7000 UP 124 MAR8 7130 UP 184 MAY8 7250 UP 225  | |
 NY COMEX COPPER 1100 APR7 UNTRD MAY7 6270 UP 5 JUN7 UNTRD JUL7 6250 UP 15 SEP7 6270 UP 20 DEC7 6285 UP 10 JAN8 UNTRD MAR8 6340 UP 15 MAY8 UNTRD JUL8 UNTRD SEP8 UNTRD DEC8 UNTRD JAN9 UNTRD  | |
 LME SILVER AFT 1ST RING 1600 - APR 7 LAST BUYER SELLER Large Cash -- -- -- 3 Months -- -- -- Small Cash -- -- -- 3 Months -- -- --  | |
 NY COCOA 11:00 MAY7 1918 OFF 16 JUL7 1950 OFF 17 SEP7 1975 OFF 14 DEC7 2013 OFF 2 MAR8 UNTRD MAY8 UNTRD JUL8 UNTRD SEP8 UNTRD  | |
Atlantic Fuels Marketing Corp said today it raised the posted cargo prices for number six high sulphur fuels in the New York Habor 50 cts a barrel effective today. The increase brings prices for two pct sulphur fuel to 19.75 dlrs 2.2 pct sulphur to 19.25 dlrs 2.5 pct sulphur to 19.00 dlrs and 2.8 pct sulphur to 18.85 dlrs it said. Posted prices for 0.3 pct sulphur and one pct sulphur were unchanged at 22.00 and 20.00 dlrs the company said. Reuter | ATLANTIC RAISES HEAVY FUELS PRICES |
Gold share prices closed mixed to slightly firmer in quiet and cautious trading showing little reaction to a retreat in the bullion price back to below 420 dlrs and a firmer financial rand dealers said. Heavyweight Vaal Reefs ended eight rand higher at 398 rand but Grootvlei eased 40 cents at 16.60 rand while mining financials had Gold Fields up a rand at 63 rand despite weaker quarterly results. Other minings were firm but platinums eased. Industrials also closed mixed to firmer the index once again hitting a new high of 1757 from Fridays 1753 finish. The overall index also hit a new high of 2188 versus 2179 on Friday. REUTER | JOHANNESBURG GOLD SHARES CLOSE MIXED TO FIRMER |
 NY SUGAR 11 1100 MAY7 662 OFF 17 JUL7 678 OFF 15 SEP7 696 OFF 12 OCT7 699 OFF 14 JAN8 UNTRD MAR8 739 OFF 16 MAY8 UNTRD JUL8 780 OFF 3  | |
 NY COFFEE 11:00 MAY7 10200 OFF 4 JUL7 10390 OFF 10 SEP7 10580 OFF 25 DEC7 10900 UNCH MAR8 11100 UP 50 MAY8 11300 UP 50 JUL8 UNTRD SEP8 UNTRD  | |
 PEORIA ACTUAL LIVESTOCK RECEIPTS - USDA CATTLE HOGS For April 8 WEEK AGO 200 2000 YEAR AGO 100 2400 Reuter  | |
Feeder Cattle futures advanced 0.20 to 0.30 cent at the start and posted new seasons highs in April through August and October before slipping to trade 0.10 cent lower to 0.20 higher in latest trade. Futures ran up to new highs at the start on general demand prompted by continued strong cattle fundamentals. Posting of another 10 cent gain in the latest reported average feeder steer price added to support traders said. However prices retreated on profit-taking following the lead of other meat pits. Stotler notably sold April on the decline they said. Reuter | FEEDER CATTLE FUTURES SET NEW HIGHS, TURN MIXED |
 AMEX-CONSOLIDATED 1100 ACTIVES 364200 WESTERN DIG 25 7/8 UP 1 1/4 230200 WANG LAB B 15 1/2 UP 1/8 223800 WICKES COS 4 1/8 OFF 1/8 190600 ALZA CP 37 1/2 UP 1 7/8 187900 TEXAS AIR 41 1/2 OFF 1 ADVANCES 247 DECLINES 152  | |
 LME LEAD AFT 2ND RING 1602 - APR 7 LAST BUYER SELLER Cash 308.0 -- -- 3 Months 301.5 301.0 302.0  | |
1000 hrs cdt MONTHS LAST DIFFERENCE Jul/May 3-1/4 over 3-1/2 over Dec/Jul 12-3/4 over 13 over Jul/Sep 4-3/4 under 5 under Sep/May no quote 8-1/4 over Sep/Dec no quote 8-1/4 under Dec/Mar8 no quote no quote May/Dec 16 under 16-1/2 under Reuter | CBT CORN SPREADS |
 NYSE-CONSOLIDATED 1100 ACTIVES 4969500 GCA CP 7/32 OFF 1/32 2163900 BELLSOUTH 39 3/8 OFF 1/8 2058500 TEXACO 34 1/8 UP 1/2 1152200 OKLAHO G&E 32 1/2 OFF 3/4 939700 UNITED AIR 65 OFF 3/4 929900 USX CORP 29 5/8 UP 3/8 918100 GEN MOTORS 83 5/8 UP 2 1/8 917500 FORD MOTOR 91 1/4 UP 1 1/8 755700 DELMARVA 30 1/4 OFF 1/8 732200 CAESARS 31 1/4 UP 5/8 ADVANCES 636 DECLINES 525  | |
Cattle in the panhandle area monday were 0.50 to 1.50 dlr higher. Trading was very active. Feedlots reported very good interest and inquiry from buying sources. Confirmed sales of 22700 steers and heifers 8100 head. There were 37900 head sold for the week to date. Steers - good and mostly choice 2-3 70-85 pct choice 1025-1150 lb 69.00-70.00 late mostly 69.50-70.00. Heifers - near 350 head mostly choice 2-3 1000 lb 68.25. Good and mostly choice 2-3 950-100 lb 66.50-68.00 late mostly 67.00-68.00. Reuter | TEXAS PANHANDLE/W OKLA FEEDLOT ROUNDUP - USDA |
MINNEAPOLIS WHEAT MAY7 284 3/4 UP 1 1/4 JUL7 280 1/4 OFF 1/2 SEP7 277 UP 1 DEC7 -- -- MAR8 -- -- | MIDWEST GRAIN FUTURES 11:00 EDT |
Federal Reserve Board Chairman Paul Volcker said reducing the federal budget deficit was a more important goal for Congress than drafting trade legislation. Reduce the budget deficit Volcker responded when asked by a member of the Senate Banking Committee about trade legislation priorities. If you dont deal with the budget deficit everything else you do is going to be counterproductive he said. Reuter | VOLCKER PUSHES SPENDING CUTS OVER TRADE BILL |
 CBT METALS REGISTRATIONS - APRIL 7 AS OF 0945 CDT SILVER 1000 OZ 13943 UNC 5000 OZ 203 UNC GOLD 100 OZ 42 UNC 3-KG 42 UNC 1-KG 658 UNC Reuter  | |
MINNEAPOLIS WHEAT MAY7 284 3/4 UP 1 1/4 JUL7 280 1/4 OFF 1/2 SEP7 277 UP 1 DEC7 -- -- MAR8 -- -- | MIDWEST GRAIN FUTURES 11:01 EDT |
1000 hrs cdt MONTHS LAST DIFFERENCE May/Jul 1 under 1 under Jul/Aug even even Sep/Nov 1-1/2 under 2-1/2 under May/Nov 2-1/2 over 2-1/4 over Jul/Nov 3-1/2 over 3-1/2 over Nov/Jan 6-3/4 under 6-3/4 under Aug/Sep no quote 5 over Mar/May8 no quote no quote Jan/Mar8 no quote no quote Reuter | CBT SOYBEAN SPREADS |
 CBT 11:01 EDT WHEAT MAY7 288 UP 1 3/4 JUL7 273 UP 1/4 SEP7 273 1/2 UP 1/2 DEC7 279 UP 1 MAR8 278 1/4 UP 1 CORN MAY7 159 3/4 UP 1 1/2 JUL7 163 UP 1 1/4 SEP7 167 1/2 UP 1 1/4 DEC7 176 UP 1 1/4 MAR8 183 UP 1 1/4 OATS MAY7 150 UNCH JUL7 138 OFF 1/2 SEP7 128 1/4 UNCH DEC7 134 1/2 UP 1/2 MAR8 UNTRD BEANS MAY7 501 1/4 UP 1 1/2 JUL7 502 1/4 UP 2 AUG7 502 1/2 UP 3 SEP7 497 UP 3 NOV7 498 3/4 UP 2 3/4 JAN8 505 1/4 UP 2 3/4 MEAL MAY7 1456 UP 3 JUL7 1457 UP 6 AUG7 1455 UP 5 SEP7 UNTRD OCT7 1455 UP 4 OIL MAY7 1554 UP 11 JUL7 1589 UP 11 AUG7 1605 UP 10 SEP7 1620 UP 9 OCT7 1635 UP 10  | |
 CBT REGISTRATIONS - APRIL 7 AS OF 0945 CDT SOYOIL 7099 UNC SILVER 1000 OZ 13943 UNC 5000 OZ 203 UNC GOLD 100 OZ 42 UNC 3-KG 42 UNC 1-KG 658 UNC CERTIFICATES OUTSTANDING SOYBEAN MEAL 0 UNC CENTRAL 0 MID-SOUTH 0 MISSOURI 0 EASTERN IOWA 0 NORTHEAST 0 NORTHERN 0 Reuter  | |
slaughter cattle rose 0.50 dlr in active trade the usda said. stees - choice 2-4 1100-1400 lbs 66.00-67.00. heifers - load choice 3 near 1225 lbs 66.50. choice 2-4 950-1125 lbs 64.00-66.00. Reuter | SIOUX FALLS CATTLE UP 0.50 DLR - USDA |
 CME 11:01 EDT L-CATTLE APR7 69.57 UP 0.17 JUN7 64.92 OFF 0.10 AUG7 60.75 OFF 0.12 F-CATTLE APR7 69.00 OFF 0.10 MAY7 68.05 OFF 0.17 AUG7 66.50 UP 0.10 HOGS APR7 50.10 UP 0.28 JUN7 48.75 UP 0.28 JUL7 47.25 UP 0.38 BELLIES MAY7 66.15 OFF 0.25 JUL7 64.70 OFF 0.15 AUG7 61.65 UP 0.05 FEB8 56.00 UP 0.40  | |
1000 hrs cdt MONTHS LAST DIFFERENCE May/Jul 0.34 under 0.35 under Jul/Aug 0.16 under 0.17 under Jul/Dec 0.78 under 0.77 under Aug/Sep 0.16 under 0.16 under May/Aug no quote 0.52 under May/Dec no quote 1.12 under Dec/Jan no quote no quote Reuter | CBT SOYBEAN OIL SPREADS |
 NY COMEX ALUMINUM 11:01 LAST CHANGE APR7 UNTRD MAY7 6150 UNCH JUN7 UNTRD JUL7 UNTRD SEP7 UNTRD DEC7 UNTRD JAN8 UNTRD FEB8 UNTRD MAR8 UNTRD MAY8 UNTRD JUL8 UNTRD SEP8 UNTRD DEC8 UNTRD JAN9 UNTRD  | |
barrows and gilts rose 1.75 dlr in active trade the usda said. us 1-3 220-250 lbs 51.75-52.00. Reuter | FLASH SIOUX FALLS HOGS UP 1.75 DLR - USDA |
 NY COMEX GOLD 11:01 APR7 4199 UP 14 MAY7 UNTRD JUN7 4237 UP 11 AUG7 4288 UP 15 OCT7 4327 UP 10 DEC7 4370 UP 9 FEB8 4415 UP 8 APR8 UNTRD JUN8 UNTRD AUG8 UNTRD OCT8 UNTRD DEC8 UNTRD FEB9 UNTRD  | |
 NASDAQ COMP 11:01 COMP 437.49 OFF 0.29  | |
1000 hrs cdt MONTHS LAST DIFFERENCE May/Jul 0.10 over 0.10 over Jul/Aug no quote even Jul/Dec no quote 1.40 under Oct/Dec no quote 1.40 under Dec/Jan no quote 0.60 under Oct/Jan no quote 2.00 under Reuter | CBT SOYBEAN MEAL SPREADS |
 LONDON DOLLAR FLUCTUATIONS 1600 - APRIL 7 STG 1.6177/82 DMK 1.8235/45 SFR 1.5120/30 DFL 2.0578/88 FFR 6.0650/0700 YEN 145.20/30 LIT 1299/1301 BFC 37.76/81  | |
 PRSFRENCH GRAINS - APR 07 Prices in ff per 100 kilos. Cumulative monthly supplements of 17.40 ff per ton to be added from august 1986 onwards. Soft wheat- dlvd ROUEN APR 130.50 PAID MAY 130.25 PAID. LA PALLICE APR/MAY 129.50 BYR. DUNKIRK APR 129.50 PAID. SOFT WHEAT - EX REGION EURE ET LOIR APR/OCT 126 PAID. CHALONS/MODANE APR/JUNE 122 BYR. SOFT WHEAT - FOB REGION METZ APR/JUNE 127 BYR/127.50 SLR. Feed barley - dlvd ROUEN APR/MAY 118.50 BYR/119 SLR. FEED BARLEY - EX REGION EURE ET LOIR APR/MAY 114.50 SLR. CHALONS/MODANE APR/MAY 112.50 BYR. FEED BARLEY - FOB REGION METZ APR/MAY 116 BYR. CORN - DLVD BAYONNE APR/JUNE 132.50 BYR. BORDEAUX APR/JUNE 134 BYR. TONNAY/CHARENTES APR/JUNE 131.75 BYR. CORN - EX REGION EURE ET LOIR 126 TO 127 NOMINAL. MARNE APR/JUNE 127 NOMINAL. CORN - FOB REGION METZ APR/JUNE 132.50 BYR. CREIL APR/MAY/JUNE 128 PAID JUL/AUG/SEP 129/129.50 PAID. REUTER  | |
American sports Advisors Inc said it has agreed to sell its sports handicapping and publication business to Professor Enterprises for about 1650000 dlrs and intends to liquidate after closing. The transaction is subject to shareholder approval. Professor is owned by American Sports president Edward C. Horowitz and Mike Warren it said. Reuter | AMERICAN SPORTS ADVISORS <PIKS> TO LIQUIDATE |
N.Y. coffee futures were marginally firmer midmorning trading in ranges of no more than 0.50 cent. May was up 0.16 cent at 102.20 cents at 1052 hrs EST in a range of 102.00 to 102.50 cents. July was up 0.15 at 104.15 cents in a 35-point range. Traders said reports that the U.S. State Department does not forsee a meeting with Brazil prior to the next International Coffee Organization session in September did not affect the market as the news was expected. Operators are watching the cash market for indications of roaster interest or producer selling. Reuter | N.Y. COFFEE FUTURES SLIGHTLY HIGHER, THIN EARLY |
As pressure mounted on British Prime Minister Margaret Thatcher to call a June election she said today that the decision on when to go to the county was hers and hers alone. She was speaking to parliament after senior members of the ruling Conservative Party urged her to call elections due in June 1988 a year early in the wake of two more opinion polls giving her party a commanding lead. Asked by a Conservative back-bencher for an assurance that the decision was hers alone and did not depend on media hype pressure and speculation she replied: The date of the next election will be decided by Downing Street not Fleet Street. Downing Street is the Prime Ministers official residence Fleet Street the traditional home of the British national press. A Harris poll for the breakfast-time program TV-AM gave the Tories 43 pct of the vote representing a majority of 132 seats in parliament their biggest lead since the partys landslide victory in the 1983 elections. In The Times of London a MORI poll gave the Tories a 92 seat majority. It was the sixth poll to show the ruling party with a big lead over the opposition Labour Party and the fast-improving centrist Alliance. Leading the chorus urging Thatcher to go to the polls in June Sir Marcus Fox vice-chairman of the influential 1922 committee of Conservative back-benchers said: I have always felt that it would be June and this reinforces my view. I always thought June was right. We have got most of our legislation through and to go beyond that I do not think would be in the national interest. Another Tory back-bencher Anthony Beaumont-Dark said: I have always been an October man but I think it would be good to get it out of the way now. Their comments came as government officials dismissed speculation about a snap election to coincide with local polls in May timed to reap maximum advantage from the recent popularity surge Thatchers successful trip to Moscow and Labours current popularity slump. Calls for a May poll were also prompted by Tory concern over a steady advance by the Alliance and the possibility that if it continues it could rob the Conservatives of an overall majority in parliament. Todays MORI poll showed an Alliance gain of eight points over the past month in around 100 key marginal seats where the outcome of the next election is likely to be decided. Reuter | THATCHER FIRM AS PRESSURE MOUNTS FOR ELECTIONS |
Portugals flag carrier airline TAP has confirmed an order for three Airbus Industrie <AINP.PA> A310-300 passenger aircraft British Aerospace Plc <BAEL.L> (BAe) one of four shareholders in the international Airbus consortium said. BAe said in a statement TAP had also taken options on another two Airbus aircraft either the existing A310-300 medium range craft or the long-range four-engined A340 which Airbus hopes to launch in 1992 depending on the airlines needs. BAe said the firm order confirmed a commitment taken by TAP in January. Details of the value of the contract delivery dates or which engine would power the aircraft were not available. Reuter | PORTUGUESE AIRLINE CONFIRMS AIRBUS A310 ORDER |
 LONDON EC BARLEY/WHEAT CLOSING - APR 7 BARLEY WHEAT May 114.65 May 122.80 Sep 99.85 Jul 125.50 Nov 102.45 Sep 101.20 Jan 105.05 Nov 103.40 Mar 107.50 Jan 106.35 May 109.40 Mar 108.75 May 111.40 ALL VALUES SALES BARLEY 24 WHEAT 197  | |
barrow and gilt prices rose 1.00 to 2.00 dlrs in very active trade the usda said. us 1-3 220-260 lbs 51.50-52.00. Reuter | FLASH ST PAUL HOGS UP 1.00/2.00 DLRS - USDA |
VOLCKER SAYS RESTRICTIVE MONETARY POLICY WOULD HURT INVESTMENT |
|
 LME ZINC AFT 2ND RING 1607 - APR 7 LAST BUYER SELLER Hg Cash -- -- -- 3 Months -- 456.0 457.0  | |
 N.Y. METALS FUTURES ESTIMATED VOLUMES- APRIL 7 Time 10.00 11.00 Silver 8000 13000 Copper 900 1700 Gold 4500 8000 Aluminum 0 1 Palladium ---- 190 Platinum ---- 2226 Reuter  | |
World sugar futures tumbled early when sell stops were triggered at 6.60 and 6.55 cents basis the spot contract traders said. Spot May dropped 0.27 cent to 6.52 cents a lb. It opened at 6.72 cents. Trade houses worked both sides of the market analysts said. The decline may have been a continued reaction to the markets inability yesterday to breach resistance around 6.93 cents basis May which unsettled traders analysts said. The market should draw support from buying tenders slated for tomorrow and Saturday they said. Reuter | WORLD SUGAR FUTURES TUMBLE IN EARLY TRADING |
Gold and silver closed off the days highs on profit-taking but silver which continued to set the pace remained well up on yesterdays close dealers said. Underlying speculative demand for silver remained strong but profit-taking eroded the gains taking the metal off indicated highs at around 6.80 dlrs to close at 6.64/66 dlrs an ounce. Yesterdays close was 6.52/54 dlrs. Some investors were noted selling gold and switching into silver. This combined with profit-taking to push gold down to a close of 418.50/419.00 dlrs from its opening 421.80/422.20 and yesterdays 421.50/422.00. Dealers said it was unclear if the silver rally had peaked or if fresh gains could be achieved in New York. A lot depends on the Dow Jones index one dealer commented. Further gains in stock prices would take away a lot of the support for silver and gold. Platinum ended 50 cents higher at 563/567 dlrs. REUTER | GOLD AND SILVER CLOSE OFF HIGHS IN ZURICH |
Swedens Telefon AB L.M. Ericsson <ERIC.ST> said it has won its third contract from U.S. West Co Inc <WST> for digital exchange equipment to be supplied in the state of Idaho over the next five years. No financial details were available. The company said the contract provided for the replacement of more than 50 older exchanges run by <Mountain Bell> one of U.S. Wests three operating companies with Ericssons AXE system. Reuter | SWEDEN'S ERICSSON WINS U.S. ORDER |
barrow and gilt prices rose 1.00 dlr in active trade the usda said. us 1-3 220-260 lbs 51.00-51.50. Reuter | FLASH OMAHA HOGS UP 1.00 DLR - USDA |
 BANK OF ENGLAND STERLING INDEX - CLOSING APRIL 7 72.3 AFTER NOON 72.3 (PREVIOUS CLOSE 72.4 )  | |
CBT wheat futures opened firmer to again set new contract highs in new crop then back off those highs to hold gains of 1-1/4 cents per bushel in May with new crop July unchanged in light early dealings. Steady speculative buying after yesterdays strong close kept the chart picture very bullish and supported initial values traders said. Rumors that exporters are planning to ship SRW wheat out of Toledo and/or Chicago further tightening already low deliverable stocks kept May firm relative to new crop months they added. However the rally failed to follow-through due to the lack of confirmed export sales of significant quantities of U.S. wheat so far this week as some traders expected. Reuter | CBT WHEAT FUTURES OPEN FIRMER, SET NEW HIGHS |
The dollar closed virtually unchanged from yesterdays finish but near the days high after another extremely quiet session. With the G-5 meeting in Washington ahead of this weeks IMF interim committee traders remained reluctant to open any large positions. Towards the end of the day the dollar firmed after failing earlier to hold beneath 1.82 marks. Some dealers said Senate testimony from Fed Chairman Paul Volcker also lent support. The dollar closed at 1.8265/75 marks after opening at 1.8200/15 and closing yesterday at 1.8260/70. Volcker said that a further sizeable dollar decline could be counter-productive and that exchange rate adjustments have been enough to narrow the U.S. Trade deficit. Such remarks in the past might have moved the dollar sharply today they only pushed it up 20 or 30 basis points when it was already firming for technical reasons. The dollar in any case held in a narrow range today trading early in the morning just below 1.82 marks and rising to a high of 1.8270. Dealers said they were awaiting comments after the G-5 meeting from U.S. Treasury Secretary James Baker. Looking slightly further ahead the market is awaiting U.S. February trade data due on April 14. Another set of disappointing figures could push the dollar below its recent 1.80-85 mark range if there have been no supportive statements from G-5 officials in Washington in the meantime dealers said. Sterling closed slightly easier at 2.950/954 marks after opening at 2.951/955 and closing yesterday at 2.954/958. The pound has been buoyed by expectations the ruling Conservatives will win the next U.K. Election. But dealers said sterling now looks high against the mark and room for further gains must be limited. Many dealers believe sterling will enter the EMS joint float after a U.K. Election. In this case its ceiling could well be at or near 2.95 marks dealers said. The yen closed at 1.2550/70 marks per 100 after closing yesterday at 1.2490/2510 and the Swiss franc firmed to 120.55/70 marks per 100 from 120.10/50. The French franc ended unchanged at 30.04/07 marks per 100. REUTER | DOLLAR CLOSES LITTLE CHANGED IN FRANKFURT |
 U.S. POSTED PRICES REPORT (DLRS/BBL) COMPANY....EFFECTIVE DATE..W.T.I.....W.T.S...LT LOUISIANA AMOCO.......2/23/87........17.50.....16.60....17.85 ARCO........4/06/87........18.00.....17.10....18.35 CHAMPLIN....1/12/87........17.50.....17.00....17.85 CHEVRON.....2/04/87... ....17.50.....17.50....17.85 CITGO.......3/12/87........17.50.....17.50....17.85 COASTAL.....3/12/87........17.50.....16.60......... CONOCO......3/09/87........17.50.....16.60....17.85 DIAMOND.SH..3/12/87........17.50................... EXXON.......3/12/87........17.50.....16.60....17.85 MARATHON....3/12/87........17.50.....17.50....17.85 COMPANY....EFFECTIVE DATE..W.T.I.....W.T.S....LT LOUISIANA MOBIL......2/10/87.........17.50.....17.50....17.85 MURPHY.....3/12/87.........17.50.....17.50....17.85 PERMIAN....3/12/87.........17.50.....17.50....17.85 PHILLIPS...3/12/87.........17.50.....17.50......... SHELL......1/20/87.........18.11.....17.23....17.89 SUN........3/12/87.........17.50.....17.50....17.85 TEXACO*....4/01/87............................17.85 UNION......3/12/87.........17.50.....17.50....17.85 * Deleted West Texas-New Mexico postings.  | |
Live Hog futures ran up for gains of 0.57 to 0.07 cent in eary trade paced by April and June. Fairly active demand reflected strength in cash hogs and the continued discount of futures to cash. The start of fieldwork limited farmer movement of hogs to market and prompted packers to bid up for hogs. Mostly steady to firm cash pork products added to support traders said. However prices slipped from the highs in latest trade as commercial profit-taking developed. Some selling was also attributed to expectations that cash ham prices will be falling soon on a seasonal basis they said. Thomson and RBH bought while Packers Trading and Refco sold. Stotler spread long June/short April they added. Reuter | LIVE HOG FUTURES HIGHER EARLY |
MINNEAPOLIS WHEAT MAY7 285 UP 1 1/2 JUL7 280 3/4 UNCH SEP7 277 UP 1 DEC7 -- -- MAR8 -- -- | MIDWEST GRAIN FUTURES 11:10 EDT |
 LONDON LIFFE YEN CLOSE 1610 - APR 7 MTH LAST HIGH LOW PR.SET Jun 6918 6928 6918 6878 Sep 6964 6964 6962 6923  | |
 LONDON LIFFE EURODOLLAR CLOSE 1610 - APR 7 MTH LAST HIGH LOW PR.SET Jun 9333 9334 9330 9336 Sep 9326 9328 9325 9330 Dec 9318 9319 9317 9322 Mar 9304 9305 9300 9308 Jun 9284 9285 9283 9288 Sep 9262 9262 9260 9267 Dec 9240 9240 9238 9245 Mar 9219 9219 9218 9224  | |
 CBT 11:10 EDT WHEAT MAY7 287 1/2 UP 1 1/4 JUL7 273 UP 1/4 SEP7 273 1/2 UP 1/2 DEC7 279 1/4 UP 1 1/4 MAR8 278 1/4 UP 1 CORN MAY7 160 UP 1 3/4 JUL7 163 1/2 UP 1 3/4 SEP7 168 1/4 UP 2 DEC7 176 3/4 UP 2 MAR8 183 1/4 UP 1 1/2 OATS MAY7 149 1/2 OFF 1/2 JUL7 138 OFF 1/2 SEP7 128 3/4 UP 1/2 DEC7 134 UNCH MAR8 UNTRD BEANS MAY7 501 1/4 UP 1 1/2 JUL7 502 1/4 UP 2 AUG7 502 1/2 UP 3 SEP7 497 1/2 UP 3 1/2 NOV7 499 UP 3 JAN8 505 1/2 UP 3 MEAL MAY7 1455 UP 2 JUL7 1455 UP 4 AUG7 1455 UP 5 SEP7 1458 UP 7 OCT7 1457 UP 6 OIL MAY7 1556 UP 13 JUL7 1591 UP 13 AUG7 1608 UP 13 SEP7 1623 UP 12 OCT7 1635 UP 10  | |
HONEYWELL BULL INTRODUCES HIGH PERFORMANCE COMPUTERS FOR MEDIUM, LARGE FIRMS |
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Pork belly (bacon) futures ran up for gains of 0.55 to 0.30 cent at the start and then eased to trade 0.15 cent lower to 0.15 higher in early dealings. Active local carryover demand and mixed commission house buying lifted futures at the start. Higher cash hog markets on light runs and spillover from other meat pits prompted support traders said. However locals turned sellers along with Saul Stone and Paine Webber and prices turned mostly lower. Trimming of gains in other pits and expectations of possibly negative out of town storage report this afternoon weighed on the market. Guesses on the report ranged from in 1.0 to 2.25 mln lbs with most indications on the high side they noted. Reuter | PORK BELLY FUTURES START HIGHER, THEN EASE |
Barrow and gilts in the east and west were 1.00 to 1.50 dlr higher than mondays midsession. Top 50.50 dlrs per cwt. EAST WEST U.S. 1-2 210-250 LB 49.50-50.50 49.50-50.50 U.S. 1-3 210-250 LB 49.50-50.50 49.50-50.50 U.S. 1-2 200-210 LB 48.50-49.50 48.50-49.50 SOWS - steady/up 2.00 dlrs. Top 46.00 dlrs. US 1-3 300-500 lb 42.00-43.00 over 500 lb 43.00-46.00 dlrs. Reuter | MISSOURI DIRECT HOGS UP 1.00-1.50 DLR - USDA |
 LOMDON LIFFE STERLING-DP CLOSE 1612 - APR 7 MTH LAST HIGH LOW PR.SET Jun 9071 9079 9070 9078 Sep 9096 9104 9096 9104 Dec 9051 9056 9051 9051 Mar 9089 9097 9089 9098 Jun 9076 9076 9076 9083 Sep 9055 9055 9055 9061 Dec 9055 9055 9055 9061 Mar 9027 9027 9027 9030  | |
 LONDON LIFFE STERLING CLOSE 1612 - APR 7 MTH LAST HIGH LOW PR.SET Jun 16100 16100 16100 16085 Sep --- --- --- 15985 Dec --- --- --- 15885 Mar --- --- --- 15784  | |
Federal Reserve Board Chairman Paul Volcker said a restrictive monetary policy would be damaging to investment and that a better course would be to restrain spending. A restrictive monetary policy would hit investment. You dont want to put interest rates up unless you have to Volcker told the Senate Banking Committee. That is not a constructive way to proceed he said. Volcker said that given a choice between squeezing the budget deficit or squeezing investment he would favor squeezing the budget deficit. In response to a question about banks Volcker said he would be pleased if Congress decided to give banks a tax writeoff as an incentive for them to take greater reserves against loans to debtor countries. If you give a tax writeoff for reserving against loans then we will see more reserving and that would make me happy Volcker told Committee Chairman Sen William Proxmire (D-Wisc). Reuter | VOLCKER SEES TIGHT POLICY HURTING INVESTMENT |
Rich Inc a wholly-owned subsidiary of Reuters Holdings PLC of London said it completed installation of a 20 mln dlr trading system for Merrill Lynch and Co Inc <MER> in New York. The company said its Composite Information System was designed and installed for Merrill Lynch in the investment firms World Financial Center offices in downtown Manhattan. The system which offers access to financial news in-house computers commercial television and other services includes 479 equity positions 614 in the debt area and 152 municipal markets positions the company said. Reuter | REUTERS <RtrSY> UNIT COMPLETES TRADING SYSTEM |
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