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Consumer Corner: Foreclosure settlement no magic bullet for economy
CHICAGO, July 10 (UPI) -- Grain futures closed mixed on the Chicago Board of Trade Friday as stocks fell in New York in a recovery that has stalled.
Corn was off 2 to up 2, soybeans were off 1 1/4 to up 17 3/4, wheat was off 2 1/2 to off 3 1/2 and oats were up 1/2.
Corn futures closed mixed with pressure from crude oil, which dropped below $60 per barrel Friday. A fall in wheat prices was attributed, in part, to the dollar gaining strength. Soybeans were mixed as a U.S. Department of Agriculture stockpile report came in slightly higher than expected.
The prices:
Corn: Jul 3.45 1/2, up 2; Sep 3.28 1/4, off 1 1/4; Dec 3.38, off 2; Mar 3.51 1/4, off 2.
Soybeans:Jul 11.28 1/4, up 17 3/4; Aug 10.44 3/4, off 2 3/4; Sep 9.71 3/4, off 1 1/4; Nov 9.17, up 1.
Wheat: Jul 4.91 3/4, off 2 1/2; Sep 5.18 3/4, off 3 1/2; Dec 5.45 1/4, off 3 1/4; Mar 5.63 1/4, off 2 3/4.
Oats: Jul 2.04, up 1/2; Sep 2.12, up 1/2; Dec 2.24, up 1/2; Mar 2.36, up 1/2.
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Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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