Discussion in 'Commodity Futures' started by Cutten, Mar 25, 2004.

  1. Cutten


    Pretty wild action today, down 8%. Anyone know what caused the big decline?
  2. josbarr


    It made an 11 month high then sell stops were hit.
  3. Coffee and OJ also got hit ... though to a lesser degree. Perhaps the selling wasn't sugar specific?
  4. The decline may have been caused by Pabst selling all his sugar since he didn't need it for sugar coating any more LOL! See below

    03-25-04 08:05 AM
    Re: Re: gamalruach

    Quote from Pabst:

    I second that. In fact I'll go one further. I'd like to be the first on this board to call you an petty, instigating, idiot cocksucker. I'm sure hundreds of poster's and lurker's think that about you, but I get to be the first to say it in print.

    Now come on Pabst!!!!!!!!!

    Don't sugar coat it. Tell us what you really think! LMAO

    I must say, I do love & admire honesty & courage in thought and in speech! It appears you have plenty of both!

  5. josbarr


    LONDON (Reuters) - Oil prices dived a dollar on Thursday, extending losses after U.S. data showed a big jump in crude supplies and doubts grew that OPEC would be able to implement fully a planned April 1 output cut.
    U.S. light crude (CLc1: Quote, Profile, Research) was trading $1.16 a barrel lower at $35.85 a barrel. London's Brent crude fell 77 cents to $32.24 a barrel.

    Prices began to slide on Wednesday following U.S. government data showing a much bigger than expected increase in the nation's crude stocks last week.

    The Energy Information Administration reported that U.S. inventories of crude oil had increased by more than three times analysts' expectations to 288.6 million barrels after a surge in imports to an average 10.1 million barrels per day (bpd).

    The downward momentum gathered pace on Thursday after OPEC member Nigeria said it was already too late for the Organization of the Petroleum Exporting Countries to go ahead with a cut planned for April 1.
  6. Cutten


    I'd be surprised if it was stop loss selling alone, the move just seems too big.

    Don't see why it should be correlated to coffee etc.