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Newspaper
Southern Illinoisan
Location
Carbondale, Illinois, United States of America
Date
Jun 14, 2002
Page
5
Chicago Board of Trade wheats jump with winter wheat output cut by the government. Corn climbs to three week highs on strong export sales while soybeans gain on higher weekly sales. Funds add to long positions as demand outlook improves, with July prices at 2.95 1/2 for wheat, 2.11 3/4 for corn, and oats at 1.81.
Eastern Cornbelt carcass prices unavailable by source. Today's negotiated hog purchases show lower prices under 500 pounds and weak demand for over 500 pounds with light to moderate offerings. Prices by weight: 300-400 lbs 15.00-17.00, 400-500 lbs 16.00-19.00, 500-600 lbs 18.00-20.00, over 600 lbs 20.00-22.00, few at 19.00. Boars under 300 lbs 14.00-22.00, mostly 15.00-18.00.
U S stocks slipped as weak May retail sales and lower outlooks for financial firms spurred doubt about the economy. The Dow fell 114.91 to 9502.80, marking a second triple digit loss in three days as Nasdaq and S&P also declined.
Former ImClone Systems chief Harlan Waksal testified to lawmakers about the Erbitux drug saga while his brother Samuel invoked the Fifth Amendment and declined to answer. Waksal faced sharp questions over stock transactions tied to the FDA concerns, including a $44 million sale after learning of problems with the colorectal cancer drug.
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