National Weather Service: Tornados Confirmed, Wet Weather for Wednesday
Miami, FL, United States (AHN) – A storm system that pummeled the central U.S. on Tuesday is forecast to move on an northeasterly track and continue to dump wet weather across the East on Wednesday.
On Wednesday, the storm system will set its sights eastward and severe thunderstorms are possible from the Florida panhandle north to Maryland, and flash flooding is possible from northern Georgia into Vermont and New Hampshire.
Pockets of severe storms ripped across parts of the Southeast Monday night. Mississippi and Georgia were two of several states slammed with high winds, drenching rain and powerful tornadoes.
Four EF2 tornadoes, with winds of up to 137mph, hit Mississippi Tuesday evening, according to the National Weather Service.
Officials say 32 people were hurt across the state, but none of the injuries were serious.
Mississippi Gov. Haley Barbour declared a state of emergency for the state’s counties affected by the overnight outbreak of severe weather. The emergency order, signed for Attala, Leake, Monroe, Oktibbeha, Smith, Warren and Yazoo counties, allows the use of state resources to assist local authorities and individuals in the wake of the storms.
In neighboring Georgia, dozens of homes were damaged in a severe storm which has now been confirmed to be a tornado in an Atlanta suburb. Many residents are thankful to just be alive.
A tornado packing winds of 130 mph tore through Gwinnet County on Tuesday, damaging at least 56 homes and a business.
The weather service advised people not to drive their vehicles into areas where water covers the roadway. The storms have already caused significant damage and officials are trying to lessen further damage and expense.
The cold front linked with the storm should be dissipating from the East Coast by Wednesday evening; areas of the Mid-Atlantic and Southeast currently being inundated with rain and thunderstorms can expect them to lessen off over the next few hours. But temperatures will be dry and cold for the rest of the workweek.
However, on the northwest side of the storm system light to isolated moderate snow showers are expected over parts of the Great Lakes. Lake effect snow showers over southern and eastern shores of the lakes are slated to fall until Thursday.
Tuesday’s heavy rain showers have left its mark on the Grand River and the National Weather Service has issued a flood warning for that river’s region.
In the middle of the country, a front was expected to bring some light snow showers to the Northern Plains.
In the nation’s west, the Pacific system that made landfall Tuesday will stall over the Northwest, dumping light rain and higher elevation snow from the Pacific Northwest and northern California east to positions of the central Rockies with snowfall of 4 to 8 inches in some areas.
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Futures Exchanges – Knowing Where To Do Business
Good for you! You’ve been reading, you’ve put together a trading rules to lay the foundation for your futures trading plan and you’ve even been paper trading to prove your trading plan. Now you are ready to learn more about where you will be doing your business; it’s time to talk about the futures exchanges.
General Futures Exchange Information
As you know at this point, you will not actually do business with the futures exchanges listed below. You will work with your broker who will take your futures orders to the exchange floor for you. Since you have been paper trading, you probably have already established an account for commodities trading so we won’t go over that again. While there are futures exchanges throughout the world, we will focus on the ones in the US. The markets we will outline are in Minneapolis, Kansas City, New York and Chicago.
History of Futures Exchanges in the US
The modern futures trading began in Chicago, IL in the early 1800s. Chicago, with its location at the base of the Great Lakes, is close to the farm of the U.S. Midwest which made it a natural center for transportation, distribution and trading of agricultural produce. Gluts and shortages of these products caused extreme changes in price. An exchange was needed that would bring together a market to find potential buyers and sellers of a commodity instead of making people bear the burden of finding a buyer or seller. In 1848, the Chicago Board of Trade (CBOT), the world’s first futures market, or futures exchange, was formed. Trading was originally in futures and the first contract was written on March 13, 1851.
Futures Exchanges
Different futures exchanges trade different commodities. In addition, each future exchange accepts different futures orders. Since not every exchange allows every order it is necessary to talk with you broker about which orders are permitted in the markets you trade. The following is a list of the major commodity exchanges, their commodities, and the orders that they accept:
Chicago Board of Trade
Location: Chicago, IL
Commodities
o Corn
o Oats
o Soybeans
o Soybean Oil
o Soybean Meal
o T-Bonds
o T-Notes
o Muni Bonds
o 5 Year Notes
o 2 Year Notes
o DJIA Index
Acceptable orders: Market, Market on Close, Limit, Stop, and Fill or Kill Orders
Chicago Mercantile Exchange
Location: Chicago, IL
Commodities
o Live Cattle
o Lean Hogs
o Lumber
o Feeder Cattle
o Pork Bellies
Acceptable orders: All futures orders are acceptable.
Index and Option Market
Commodities
o S&P 500
o Mid-cap 400
o NASDAQ 100
Acceptable orders: All futures orders are acceptable.
International Monetary Exchange
Location: Chicago, IL
Commodities
o T-Bills
o Euro Dollars
o Canadian Dollar
o Euro Currency
o Australian Dollar
o Mexican Peso
o Euro Yen
o Japanese Yen
o British Pound
o Swiss Franc
Acceptable orders: All futures orders are acceptable.
New York Comex
Location: New York, NY
Commodities
o Copper
Acceptable orders: For Copper only, acceptable are Market, Market on Close, Limit, Stop, and Fill or Kill.
Commodities
o Gold
o Silver
Acceptable orders: For Gold and Silver, acceptable are Market, Market on Close, Limit, Stop, and Fill or Kill. Stop Limits are acceptable only on a not-held basis.
New York Cotton Exchange
Location: New York, NY
Commodities
o Cotton
o Orange Juice
o Dollar Index
Acceptable orders: Market, Market on Close, Limit, Stop, and Fill or Kill.
New York Coffee, Sugar & Cocoa Exchange
Location: New York, NY
Commodities
o Coffee
o Sugar
o Cocoa
Acceptable orders: All futures orders are acceptable.
New York Mercantile Exchange
Location: New York, NY
Commodities
o Unleaded Gasoline
o Platinum
o Palladium
o Heating Oil
o Crude Oil Natural Gas
Acceptable orders: All futures orders are acceptable.
New York Futures Exchange
Location: New York, NY
Commodities
o New York Stock Exchange Index
o CRB Index
Acceptable orders: All futures orders are acceptable.
Kansas City Board of Trade
Location: Kansas City, MO
Commodities
o Kansas City Value Line
o Kansas City Mini Value Line
Acceptable orders: All futures orders are acceptable.
o Kansas City Wheat
Acceptable orders: Market, Market on Close, Limit, Stop and Fill or Kill.
Minneapolis Board of Trade
Location: Minneapolis, MN
Commodities
o Minneapolis Wheat
o Minneapolis White Wheat
Acceptable orders: All futures orders are acceptable.
Author: Stephen Bigalow
Article Source: EzineArticles.com
Provided by: Duty tariff
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