Central Valley Cooperative

Energy - steady to higher - weaker dollar - North Sea platform fire - Moody’s warns the U.S. - Natural gas inventories released today - Forecast is HOT! The energy complex is trading steady to mixed overnight as the dollar edges lower. Moody’s warning to the U.S. is pressuring the dollar lower and we have a platform fire in the North Sea in the BP Valhall field has stopped oil production and supported Brent crude oil. Yesterday crude oil draws were taken as market friendly. Hot temperatures are becoming more of an energy feature as power generation will remain strong. Bernanke comments from congressional interrogation were that the Fed will be willing to act if needed to shore up the economy. He feels the Fed will not need to do anything. Many are questioning what the Fed has left in the toolbox, as they did indicate several options. The door may still be open to another stimulus package and so the dollar continues to sell off and commodities rallied on the news. Global economic issues are trumping geopolitical concerns at the moment. NATO keeps pressure on Gadhafi.