Today in Commodities: USDA big news today
No curve balls from the USDA but as for food prices look for prices to stay elevated. Crude will settle approximately 1% higher in today’s session trading briefly over $102/barrel in the July contract. We maintain our short term target in this contract at $104.50/105.00. It again appears to be the story that strength in the distillates are helping lift Crude prices as RBOB picked up over 2% today and heating oil 1.50%.
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