DJ CBOT Corn Review: Ends Higher On Crude; Unchanged On Week

CHICAGO, Jan 02, 2009 (Dow Jones Commodities News via Comtex) --
By Ian Berry
Of DOW JONES NEWSWIRES

Higher crude oil and short-covering pushed Chicago Board of Trade corn futures higher Friday, as the market extended its rally from Wednesday, traders said.

March corn ended up 5 1/4 cents to $4.12 1/4 per bushel, May corn ended up 5 cents to $4.22 3/4 and July corn ended up 5 cents to $4.33.

The market was a penny or two higher for most of the day and gained a few more cents before the close. It remains firmly above key support at $4 as well as its 50-day moving average at $3.85.

"The market has given a clear indication -- not just corn, but wheat and soybeans -- that the Dec. 5 lows were fairly major," said Joel Karlin, analyst for Western Milling.

Higher crude oil and U.S. stocks set a supportive tone, although there was little fundamental news to boost the market, traders and analysts said. Weekly export sales of 269,900 metric tons were weak, traders added.

Traders and analysts add that the rally from a low of $2.90 in the nearby contract in December has been in light volume, much of it around the holidays. Many expect the market will give back some of its gains once traders return and activity gets back to normal next week.

Karlin said following the Jan. 12 crop report, the market will have "a renewed focus on fundamentals" including prospects for planted acreage this year.

Weak demand across all sectors continues to limit corn's gains, analysts say, and corn's recent gains will only hinder any rebound in demand.

Funds bought an estimated 1,000 contracts. Although the market closed higher for the third straight day, the March contract ended unchanged on the week.

CBOT oats ended slightly higher. March oats ended up 2 cents to $2.12 per bushel, May oats ended up 2 cents to $2.21 1/4 and July oats ended up 2 cents to $2.30 3/4.
Ethanol futures were mixed. January ethanol ended flat at $1.620 per gallon and March ethanol ended up $0.005 to $1.654.

-By Ian Berry, Dow Jones Newswires; 312-341-5778; ian.berry@dowjones.com
(END) Dow Jones Newswires
01-02-09 1543ET
Copyright (c) 2009 Dow Jones & Company, Inc.

Terrorist Attack on Nigerian Oil Pipeline

Another oil pipeline in Nigeria was possibly attacked by major terrorist group Emancipation of the Niger Delta, which demands funds from the oil transferred through the pipeline.

There's also a possibility that two tribal communities, the Ogulagha and the Odimodi, may have participated in the attack, as they have fought over land ownership for some time that the pipeline runs on, battling for a higher share of the money.

Over the last couple years, ongoing attacks on oil pipelines has resulted in production declining by 25 percent in Nigeria. Italy's Agip, subsidiary of Italian energy behemoth Eni SpA, owns the pipeline.

Nigeria is the United States fifth-largest supplier of oil.

Azteca Gold Corp. Announces First Closing of Private Placement

SPOKANE, WASHINGTON, Jan 02, 2009 (MARKET WIRE via COMTEX) ----Matthew Russell, President of Azteca Gold Corp. (TSX VENTURE: AZG) ("Azteca" or the "Company") announces that on December 31, 2008 the Company closed a non-brokered private placement for gross proceeds of $1,183,302. The Company issued 23,666,044 units, each unit consisting of one common share and one-half share purchase warrant. Each warrant entitles the holder to purchase one common share for $0.25 until December 31, 2010. Shares issued pursuant to this financing are subject to a 4 month hold period ending May 1, 2009.

The Company will extend the private placement by conducting a second and final closing on or before Wednesday, January 7, 2009. The Company will sell up to an additional 10,000,000 Units for gross proceeds of CAD $500,000.

Funds will be used for drilling and assaying expenses on the Company's 50% owned Two Mile Project as well as general working capital. Insiders subscribed for 63.1% of the amount raised.

Timing of Two Mile Project Assays

The Company expects to receive first preliminary assays on the mineralization of hole DDH-005A from the assay lab the week of January 5, 2009. Assaying and subsequent assay releases will be ongoing for holes DDH-005A, DDH-005B, and DDH-006 during 2009.

WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, changes in laws or regulations, the risks of obtaining final approval from necessary regulatory bodies in connection with the Private Placement, inaccurate assumptions concerning the exploration for and development of mineral deposits and timing related to receipt of the preliminary assays. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Shares issued: 136,441,996

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Azteca Gold Corp. Jon Slizza VP of Finance (509) 981-2020
Email: info@azteca-au.com SOURCE: Azteca Gold Corp.

mailto:info@azteca-au.com Copyright 2009
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