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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jan 18, 2003
Page
5
The euro rose to $1.0677, nearing $1.07 after breaking above $1.06, on bets the US economy would suffer from a possible war in Iraq. Analysts cite war fears and oil price fears as drivers, noting the common currency has climbed more than 20 percent in a year.
Eleven of the world’s busiest seaports began using an electronic container security system to track shipments. The Smart and Secure Tradelanes seals relay location and contents via radio signals to deter smugglers or terrorists. About 100 containers have been equipped and shipped to Seattle Los Angeles and Long Beach, with Europe to East Coast ports following.
Eastern Cornbelt carcass prices half to three quarters lower with 0.5 to 0.9 inch backfat ranges from 43.00 to 51.62. Illinois direct hogs 18 076 head. Demand light, mostly steady trend. Prices by weight: 300-400 lbs 15.00-17.00, 400-500 lbs 18.00-19.00, 500-600 lbs 20.00-21.00, over 600 lbs 21.00-24.00. Boars under 300 lbs 12.00-19.00, mostly 17.00. over 300 lbs 4.00-6.00.
Wheat futures at the Chicago Board of Trade rallied on Friday as dry conditions and scarce snow in the U.S. winter wheat belt raised concerns for crop protection. March wheat gained 5% to $3.16 1/4, while March corn, oats, and soybeans also rose.
The Interior Department released a draft plan to open up to 9 million acres of Alaska s National Petroleum Reserve Alaska to oil and gas development with some environmentally sensitive lands cordoned off. A decision on scope and protections could come as early as fall. Environmentalists fear drilling in key wildlife areas even as industry sees broad potential.
Wall Street slid to its first weekly loss of 2003 as Microsoft and IBM issued cautious outlooks. The Dow fell 111.13 to 8586.74, Nasdaq dropped 47.56 to 1376.19, and S&P 500 declined 12.82 to 901.78, with fears of weak demand and earnings optimism fading. IBM and Microsoft shares tumbled amid profit and dividend news, while markets closed near session lows.
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