The EPA is using heavy equipment to enter the Gold King Mine, a suspended mine near Durango, Colorado. Instead of entering the mine and beginning the process of pumping and treating the contaminated water as planned, the team accidentally caused it to flow into the nearby Animas River. Before the spills water carrying "metals pollution" was flowing in the holding area outside the mine.
The EPA began testing the Animas River for hazardous materials on Thursday. It is not known what the orange acidic mess might mean for water users and the rivers ecosystem. Officials believe the spill carried heavy metals, mainly iron, zinc and copper from the mine that feeds the Animas River. From the orange water plugged steadily along through a stretch of winding river in Southern Colorado and across the state border to New Mexico where it meets the San Juan River. Contents and contributions from Eli Watkins, CNN.
I think the EPA should understand the EP stands for "Environmental Protection".
On the corn front the market is gearing up for Wednesday's Crop Production USDA Supply/Demand report and the vast majority of grains are trading higher in the overnight electronic session. This could be short-covering of positions as investors do not want to be lop-sided and overloaded heavy to one side in case of a surprise in the data. The September corn is currently trading at 376 ¼ which is 3 ½ cents higher. The trading range 379 ¾ to 377 so far. This should be an interesting trading week in this complex.
On the ethanol front there were no trades posted in the overnight electronic session. The September contract settled at 1.460 and is showing 3 bids @ 1.451 and 7 offers @ 1.490.
On the crude oil front the market is making new highs as I write in the overnight electronic session. The market may have held close to the $44 level after all as the market works higher. The September contract is currently trading at 4412 which is 25 points higher. The trading range has been 4420 to 4335 so far as I write The bulls may be back in town with their swagger.
On the natural gas front the market is strong in the overnight electronic session with the September contract making new highs in this market as well as I write. The September contract is currently trading at 2.841 which is .043 cents higher. The trading range has been 2.849to 2.826 so far. Hot weather could keep the bull run press and push bears to the side.