1
 Crude oil futures prices fell further 
5001
span

2
as analysts and traders said 
3
attribution

3
OPEC oil producers aren't putting the brakes on output ahead of the traditionally weak first quarter.
5002
span

4
 In trading on the New York Mercantile Exchange, the U.S. benchmark West Texas Intermediate crude fell 39 cents a barrel to $19.76 for December delivery.
5003
List

5
 Petroleum products prices also declined.
5003
List

6
 Analysts pointed to reports 
5005
span

7
that the Organization of Petroleum Exporting Countries is producing substantially more than its official limit of 20.5 million barrels a day, 
5006
span

8
with some accounts putting the 13-nation group's output as high as 23 million barrels a day.
7
evaluation-s

9
 That level of production didn't take its toll on futures prices for the fourth quarter, 
5007
span

10
when demand is traditionally strong.
9
temporal-same-time

11
 But 
5010
Same-Unit

12
because first-quarter demand is normally the weakest of the year, 
5011
reason-e

13
several market participants say, 
5012
attribution

14
OPEC production will have to decline 
5012
span

15
to keep prices from eroding further.
14
purpose

16
 The group plans to meet in a month 
5015
span

17
to discuss production strategy for early 1990.
16
purpose

18
 With prices already headed lower, 
19
circumstance

19
news of a series of explosions at a major Phillips Petroleum Co. chemical facility on the Houston Ship Channel also was bearish for prices.
5017
span

20
 Even though such facilities use a relatively small amount of crude, 
5018
antithesis

21
analysts say, 
22
attribution

22
now the facility won't need any, at a time of already high availability.
5018
span

23
 The Phillips plant makes polyethylene, polypropylene and other plastic products. 
5020
background

24
A company official said 
5024
attribution

25
the explosions began 
5024
span

26
when a seal blew out.
25
result

27
 Dozens of workers were injured, 
5025
span

28
authorities said.
27
attribution

29
 There was no immediate estimate of damage from the company.
5026
evaluation-s

30
 Some petroleum futures traders say 
31
attribution

31
technical considerations now will help to put downward pressure on futures prices.
5029
span

32
 For instance, one trader said 
5031
attribution

33
that prices inevitably will go lower 
5031
span

34
now that they've fallen below $20 a barrel.
33
circumstance

35
 Our technician is a little bearish 
5034
span

36
now that we've taken out $20, 
35
circumstance

37
he said. 
5034
attribution

38
 In other commodity markets yesterday: 
5160
TextualOrganization
Title
39
 COPPER: 
5076
TextualOrganization
SectionTitle
40
The selling 
5038
span

41
that started on Friday 
40
elaboration-object-attribute-e

42
continued yesterday.
5039
Same-Unit

43
 The December contract fell 3.85 cents a pound to $1.1960. 
5041
List

44
London Metal Exchange warehouse stocks were down only 4,800 metric tons for the week to 84,500 tons; 
5040
span

45
expectations late last week were a drop of 10,000 to 15,000 tons. 
44
elaboration-additional

46
The New York market made its high for the day on the opening 
5044
List

47
and 
5043
Same-Unit

48
when it dropped below the $1.23-a-pound level, 
49
temporal-same-time-e

49
selling picked up 
5042
span

50
as previous buyers bailed out of their positions 
5047
Temporal-Same-Time

51
and aggressive short sellers 
5045
span

52
-- anticipating further declines -- 
51
elaboration-additional-e

53
moved in. 
5046
Same-Unit

54
Fund selling also picked up at that point.
5044
elaboration-additional

55
 According to Bernard Savaiko, senior commodity analyst at PaineWebber, 
5053
attribution

56
the only stability to the market came 
5053
span

57
when short sellers periodically moved in 
5052
span

58
to cover their positions 
5051
span

59
by buying contracts. 
58
means

60
This activity produced small rallies, 
5055
span

61
which in turn attracted new short selling.
60
cause

62
 Mr. Savaiko noted 
5062
attribution

63
that copper had a steep fall 
5062
span

64
in spite of a weak dollar, 
5061
span

65
which would normally support the U.S. copper market.
64
elaboration-additional-e

66
 Such support usually comes from arbitragers 
5065
span

67
who use a strong British pound 
5064
span

68
to buy copper in New York.
67
purpose

69
 The sell-off would probably have been worse 
5068
span

70
if the dollar had been strong, 
69
condition

71
he said.
5068
attribution

72
 Copper has been stuck in a trading range of $1.19 to $1.34. 
5075
span

73
Mr. Savaiko believes 
5073
attribution

74
that 
5072
span

75
if copper falls below the bottom of this range 
74
condition-e

76
the next significant support level will be about $1.04. 
5073
Same-Unit

77
 PRECIOUS METALS: 
5104
TextualOrganization
SectionTitle
78
Platinum and palladium struggled to maintain their prices all day 
5077
span

79
despite news stories over the weekend 
5081
span

80
that recent cold fusion experiments,
5078
span

81
 which use both metals, 
80
elaboration-additional-e

82
showed signs 
5080
span

83
of producing extra heat.
82
elaboration-object-attribute-e

84
 January platinum closed down $2.80 an ounce at $486.30, nearly $4 above its low for the day.
5082
List

85
 December palladium was off $1.55 an ounce at $137.20.
5082
List

86
 Platinum is believed to have good support around $480 and palladium at around $130.
5082
evaluation-s

87
 Some traders were thought to be waiting for the auto sales report, 
5085
span

88
which will be released today.
87
elaboration-additional-e

89
 Such sales are watched closely by platinum and palladium traders 
5086
span

90
because both metals are used in automobile catalytic converters.
89
reason

91
 Mr. Savaiko theorized 
5089
attribution

92
that the news on cold fusion didn't affect the market yesterday 
5089
span

93
because many traders have already been badly burnt by such stories. 
92
explanation-argumentative

94
He said 
5092
attribution

95
the traders are demanding a higher level of proof 
96
circumstance

96
before they will buy palladium again.
5092
span

97
 Also weighing on both metals' prices is the role of the chief supplier, the Soviet Union. 
5099
span

98
Many analysts believe 
5097
attribution

99
that the Soviets' thirst for dollars this year 
5095
span

100
to buy grain and other Western commodities and goods 
99
elaboration-object-attribute-e

101
will bring them to the market 
5096
Same-Unit

102
whenever prices rally very much.
5096
contingency

103
 GRAINS AND SOYBEANS: 
5112
TextualOrganization
SectionTitle
104
Prices closed mixed 
5106
span

105
as contracts reacted to largely offsetting bullish and bearish news. 
104
circumstance

106
On the Chicago Board of Trade, soybeans for November delivery closed at $5.63 a bushel, down half a cent,
5107
Temporal-Same-Time

107
 while the December wheat contract rose three-quarters of a cent to $4.0775 a bushel.
5107
Temporal-Same-Time

108
 Supporting prices was the announcement late Friday of additional grain sales to the Soviet Union.
5108
Contrast

109
 But acting as a drag on prices was the improved harvest weather over the weekend and the prospect for continued fair weather this week over much of the Farm Belt.
5108
Contrast

110
 Strong farmer selling over the weekend also weighed on prices.
5108
elaboration-additional

111
 SUGAR: 
5137
TextualOrganization
SectionTitle
112
World prices tumbled, mostly from their own weight, 
5113
span

113
according to analysts. 
112
attribution

114
The March contract ended at 13.79 cents a pound, down 0.37 cent.
5113
elaboration-general-specific

115
 For the past week or so, traders have been expecting India to buy between 150,000 and 200,000 tons of refined sugar, 
5115
List

116
and there have been expectations of a major purchase by Japan.
5115
List

117
 But with no reports 
5117
span

118
of either country actually entering the market, 
117
elaboration-object-attribute-e

119
analysts said, 
5117
attribution-e

120
futures prices became vulnerable.
5119
Same-Unit

121
 Developing countries such as India, 
5121
span

122
some analysts said, 
121
attribution-e

123
seem to have made it a point 
5123
span

124
to stay away 
5124
span

125
whenever sugar reached the top of its trading range, around 14.75 cents, 
124
contingency

126
and wait for prices to return to the bottom of the range, around 13.50 cents.
5125
List

127
 But Erik Dunlaevy, a sugar analyst with Balfour Maclaine International Ltd., said 
128
attribution

128
the explanation for the latest drop in sugar prices is much simpler: 
5126
span

129
Speculators, 
5127
span

130
he said, 
129
attribution-e

131
got too long too soon 
5128
Same-Unit

132
and ran into resistance around the old contract highs.
5129
Consequence

133
 A PaineWebber analyst said 
5133
span

134
that in light of a new estimate of a production increase of four million metric tons and only a modest increase in consumption, sugar isn't likely to rise above the top of its trading range 
5132
span

135
without a crop problem in a major producing country.
134
concession

136
 COCOA: 
5159
TextualOrganization
SectionTitle
137
Futures rallied modestly. 
5140
span

138
The December contract rose $33 a metric ton to $1,027, near its high for the day.
137
evidence

139
 Gill & Duffus Ltd., a British cocoa-trading house, estimated 
140
attribution

140
that the 1989-90 world cocoa surplus would be 231,000 tons, down from 314,000 tons for the previous year.
5139
span

141
 Market technicians were encouraged by the price patterns, 
5141
span

142
which in the past have preceded sharp rallies.
141
elaboration-additional-e

143
 Recent prices for cocoa have been near levels 
5144
span

144
last seen in the mid-1970s. 
143
elaboration-object-attribute-e

145
At such prices, 
5146
span

146
according to Mr. Savaiko, 
145
attribution-e

147
bargain hunting and short-covering 
5149
span

148
-- buying back of contracts 
5148
span

149
previously sold -- 
148
elaboration-object-attribute-e

150
by speculators isn't uncommon.
5147
Same-Unit

151
 But Mr. Savaiko expects stepped-up producer selling at around the $1,040 to $1,050 level.
5150
span

152
 He also noted 
5152
attribution

153
that a strong sterling market yesterday might have helped cocoa in New York 
5152
span

154
as arbitragers took advantage of the currency move.
153
circumstance

155
 Sandra Kaul, research analyst at Shearson Lehman Hutton, said 
156
attribution

156
the market pushed higher mainly in anticipation of a late harvest in the Ivory Coast, a major cocoa producer.
5154
span

5001
span
5004
span

5002
span
1
circumstance

5003
multinuc
5001
example

5004
span
5014
span

5005
span
5008
span

5006
span
6
elaboration-object-attribute-e

5007
span
5013
span

5008
span
5004
explanation-argumentative

5009
span
5010
Same-Unit

5010
multinuc
5016
span

5011
span
5009
span

5012
span
5011
span

5013
span
5005
elaboration-additional

5014
span
5037
span

5015
span
5010
elaboration-additional

5016
span
5007
antithesis

5017
span
5020
span

5018
span
5019
span

5019
span
5017
consequence-s

5020
span
5021
span

5021
span
5028
span

5022
span



5023
span
5026
span

5024
span
5023
span

5025
span
5023
consequence-s

5026
span
5027
span

5027
span
5021
elaboration-general-specific

5028
span
5030
span

5029
span
5033
span

5030
span
5014
elaboration-additional

5031
span
5032
span

5032
span
5036
span

5033
span
5028
comment

5034
span
5035
span

5035
span
5032
restatement

5036
span
5029
example

5037
span
5161
Topic-Shift

5038
span
5039
Same-Unit

5039
multinuc
5049
span

5040
span
5041
List

5041
multinuc
5039
evidence

5042
span
5043
Same-Unit

5043
multinuc
5048
span

5044
multinuc
5059
span

5045
span
5046
Same-Unit

5046
multinuc
5047
Temporal-Same-Time

5047
multinuc
5043
circumstance

5048
span
5044
List

5049
span
5076
TextualOrganization
SectionText
5050
span



5051
span
57
purpose

5052
span
56
circumstance

5053
span
5054
span

5054
span
5057
span

5055
span
5054
cause

5056
span
5059
comment

5057
span
5056
span

5058
span



5059
span
5060
span

5060
span
5067
span

5061
span
63
concession

5062
span
5063
span

5063
span
5066
span

5064
span
66
elaboration-object-attribute-e

5065
span
5063
explanation-argumentative

5066
span
5070
span

5067
span
5071
span

5068
span
5069
span

5069
span
5066
comment

5070
span
5060
evaluation-s

5071
span
5041
List

5072
span
5073
Same-Unit

5073
multinuc
5074
span

5074
span
72
evaluation-s

5075
span
5067
elaboration-additional

5076
multinuc
5105
List

5077
span
5084
span

5078
span
5079
Same-Unit

5079
multinuc
79
elaboration-object-attribute-e

5080
span
5079
Same-Unit

5081
span
78
concession

5082
multinuc
5083
span

5083
span
5077
evidence

5084
span
5088
span

5085
span
5087
span

5086
span
5085
explanation-argumentative

5087
span
5084
elaboration-additional

5088
span
5101
span

5089
span
5090
span

5090
span
5102
span

5091
span



5092
span
5093
span

5093
span
5090
elaboration-additional

5094
span



5095
span
5096
Same-Unit

5096
multinuc
5097
span

5097
span
5098
span

5098
span
97
explanation-argumentative

5099
span
5101
elaboration-additional

5100
span



5101
span
5103
span

5102
span
5088
interpretation-s

5103
span
5104
TextualOrganization
SectionText
5104
multinuc
5105
List

5105
multinuc
5160
TextualOrganization
Text
5106
span
5109
span

5107
multinuc
5106
evidence

5108
multinuc
5110
span

5109
span
5111
span

5110
span
5109
elaboration-general-specific

5111
span
5112
TextualOrganization
SectionText
5112
multinuc
5105
List

5113
span
5114
span

5114
span
5116
span

5115
multinuc
5120
Contrast

5116
span
5134
span

5117
span
5118
span

5118
span
5119
Same-Unit

5119
multinuc
5120
Contrast

5120
multinuc
5114
explanation-argumentative

5121
span
5122
Same-Unit

5122
multinuc
5136
Contrast

5123
span
5122
Same-Unit

5124
span
5125
List

5125
multinuc
123
elaboration-object-attribute-e

5126
span
5130
span

5127
span
5128
Same-Unit

5128
multinuc
5129
Consequence

5129
multinuc
5126
elaboration-general-specific

5130
span
5135
List

5131
span



5132
span
133
attribution

5133
span
5135
List

5134
span
5137
TextualOrganization
SectionText
5135
multinuc
5136
Contrast

5136
multinuc
5116
interpretation-s

5137
multinuc
5105
List

5138
span



5139
span
5140
evaluation-s

5140
span
5142
span

5141
span
5145
span

5142
span
5143
span

5143
span
5156
span

5144
span
5141
explanation-argumentative

5145
span
5142
interpretation-s

5146
span
5147
Same-Unit

5147
multinuc
151
antithesis

5148
span
147
definition-e

5149
span
5147
Same-Unit

5150
span
5143
evaluation-s

5151
span
5157
List

5152
span
5151
span

5153
span



5154
span
5157
List

5155
span



5156
span
5158
span

5157
multinuc
5156
interpretation-s

5158
span
5159
TextualOrganization
SectionText
5159
multinuc
5105
List

5160
multinuc
5161
Topic-Shift

5161
multinuc



