August 4, 1989 |
Up to a third of the 46 commodities traders and brokers indicted for allegedly cheating customers at the Chicago Board of Trade and the Chicago Mercantile Exchange have agreed to cooperate with federal prosecutors, defense attorneys said Thursday. While the level of cooperation is greater than previously known and strengthens the government's case, legal experts say that a number of hurdles remain in the way of both prosecution and defense lawyers.
December 1, 1987 |
The stock market's steep drop helped push livestock, meat and cotton futures down their daily limits Monday, but most other commodities reacted to fundamental market factors more than to outside influences. Stock index futures retreated, soybean and corn futures closed lower and wheat futures advanced. Also, gold gained while the other precious metals declined and energy futures retreated.
July 29, 1987 |
Platinum led a rally in precious metal futures prices Tuesday as a weakening dollar, renewed inflationary worries and heightened tension in the Persian Gulf sent uneasy traders scurrying for "secure" investments. "Platinum is the most thinly traded of the precious metals, and any shift in the speculative climate is most sensitively reflected there first," said Howard Levine, first vice president with Shearson Lehman Bros. in New York.
October 2, 1987 |
Pork futures climbed the limit allowed for daily trading Thursday while cattle futures fluctuated wildly. Grain and soybean futures were sharply higher. Brisk buying in the live hog and frozen pork belly pits of the Chicago Mercantile Exchange was linked to Wednesday's government report showing a 9% expansion in the nation's hog herd, said Philip Stanley, an analyst in Chicago with Thomson McKinnon Securities Inc. Live hogs bounced back to settle up the 1.
November 13, 1985 |
Treasury bond futures soared to five-year highs Tuesday on the Chicago Board of Trade amid growing conviction that Congress will be able to pare the federal budget deficit. Treasury bond futures for delivery in December finished with a gain of more than 1 percentage point, closing at the highest level for a Treasury bond contract since December, 1980.
January 21, 1986 |
Petroleum futures prices plunged in a "selling panic" Monday largely because of an over-abundance of supply. Crude oil slumped the $1-a-barrel limit for daily trading on the New York Mercantile Exchange. The contract for delivery in February, for which there is no limit, settled $2.26 lower. "The market dropped as much in one day as it did all last week, and last week was one of the worst I remember," said Peter Beutel, an analyst in New York with Rudolf Wolff Energy.
May 11, 1985 |
Cocoa futures prices soared Friday on the Coffee, Sugar and Cocoa Exchange for the second straight day, primarily in response to steps taken by the exchange to force traders out of their contract positions. In the past two sessions, the price has advanced $179 a metric ton, more than 7% of its value.