In a move that baffled some traders, prices rebounded by large amounts across the board Tuesday from the previous day’s overall softness. Since weather-based demand remained relatively meager in most areas, Monday’s prompt-month futures spike of 33.7 cents was about the only solid support that could be found for the cash price strength Tuesday.
Baffled
Articles from Baffled
Some Doubt Post-Holiday Upticks Can Be Sustained
The cash market again baffled many Thursday with its ability to keep rising on either side of a low-demand holiday, especially with little help from weather fundamentals (except in the West) or the screen. At least a couple of traders think reality will set in today with falling prices.
July 6, 2001
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