“Other than a 15-cent crash, it’s a fairly quiet market.” That’sthe only comment a Sumas trader had to offer Tuesday other than acouple of price quotes. It appeared the cash market may have onlybeen teasing producers with Monday’s moderate firming afterdouble-digit decreases dominated on Tuesday. Some sources pointedat futures as a source of cash weakness, but most said it was morethe continuing lack of positive fundamental influences that causedmost points to approximately double the screen’s fall of just over9 cents.
Roaming
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Traders See Bears Coming Out of the Woodwork
It looks like bears are roaming the market woods for the holidayseason, said a producer noting new softness in both futures andcash prices Friday. No nay-sayers to her assessment could be foundas sources agreed that weather and storage fundamentals continue tolook weak for the foreseeable future, barring a surprise blizzardor two. A marketer said he “wouldn’t be surprised if we end up withDecember indexes looking a lot like November’s.”
November 23, 1998
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