(story updated with closing prices and more commodities commentary.)
NEW YORK ( TheStreet) -- Corn prices eased Monday on a bout of selling after popping more than 5% Friday.
Crude oil prices rose again Monday after losing ground Friday as allied airstrikes against pro-Gaddafi forces and emboldened rebel forces dampened hopes of the oil export resumption out of Libya. Light sweet crude oil for May delivery rose $1.15 to $103 a barrel. Shares of oil and gas companies mostly settled in positive territory, with Petroleo Brasileiro ( PBR) up 1.7% to $39.54. BP ( BP) rose 1.5% to $45.80 and China Petroleum & Chemical ( SNP) added 1.6% to $98.75.
Other currencies were gaining against the Japanese yen Monday after central banks from the Group of Seven industrialized nations coordinated a yen sell-off to stem the run-up in the Japanese currency. The gains had occurred amid a mass repatriation of funds in the aftermath of the earthquake and tsunami. The euro was rising 0.9% against the Japanese currency at 115.295 yen, while the U.S. dollar was up 0.6% at 81.061 yen. The U.K. pound sterling was up 1.1% at 132.189 yen and the franc was flat against the Japanese currency. Still UBS foreign exchange strategist Geoffrey Yu noted that evidence suggests the action wasn't enough to eradicate yen long clusters in the market.
The ten-year treasury was falling as the U.S. announced plans to sell $10 billion of mortgage-backed securities and Japan's nuclear crisis looked to be coming under control. The benchmark ten-year treasury note was falling 15/32, pushing the yield up to 3.323%. The mortgage-backed securities securities were purchased during the 2008 financial crisis. "Based on current valuations, the Treasury should be able to earn a profit on its MBS investments while it is raising cash," according to a Royal Bank of Scotland report. >>Search for Highest Dividends by Rate or Yield
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