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Check back later this morning for today’s Morning Musings.

1. Crude Oil prices are under pressure today ahead of tomorrow’s critical meeting in Vienna when OPEC members will attempt to implement an agreement outlined in September to cut output by around 1 million barrels per day…Goldman Sachs commented, “The latest headlines suggest that while there is a broad agreement on the rationale for a cut, political considerations and country level quota negotiations are so far preventing a deal from being reached”…WTI has slipped $1.77 a barrel to $45.31 as of 7:00 am Pacific…

2. According to the Financial Times, 8 of Italy’s banks risk failing if Sunday’s congressional reform referendum in that country fails, quoting sources from senior bankers…according to the latest polls, the “No” side currently has a significant lead over the “Yes” camp, leading 41% to 34%…Prime Minister Matteo Renzi, who called for the referendum, has said that he would step down if the vote failed to pass…

3. Gold dipped as low as $1,180 overnight but has recovered to $1,187, down $7 an ounce, as of 7:00 am Pacific…yesterday marked a 12th straight day of Gold ETF outflows…with Gold, Silver, base metals and Oil all soft this morning, the Venture is holding up with just a 2-point loss at 735 as of 7:00 am Pacific while the broader equity markets are also slightly negative…

4. Thank goodness for soybeans!…the U.S. economy grew faster than initially thought in the 3rd quarter, notching its best performance in 2 years thanks in part to a surge in soybean exports…Q3 GDP increased at a 3.2% annual rate instead of the previously reported 2.9% pace, the Commerce Department said in its second GDP estimate this morning…growth was the strongest since the 3rd quarter of 2014 and followed the 2nd quarter’s anemic 1.4% pace…meanwhile, tight supply and high demand pushed U.S. home prices in September to a new peak nationally…

5. Otis Gold (OOO, TSX-V) has drilled 85.4 m grading 2.5 g/t Au (hole 338), 69.1 m grading 2.07 g/t Au (hole 348) and and 50.3 m grading 2.04 g/t (hole 330) at its Kilgore Gold Project in Clark county, Idaho…drilling associated with the 2016 field program is now complete and totaled 10,300 m spread among a combination of 40 core and reverse circulation (RC) drill holes…results from the final 12 holes of the 2016 campaign are pending…OOO is up half a penny at 23.5 cents as of 7:00 am Pacific…

6. ICC International Cannabis Corp. commenced trading on the Venture Exchange this morning under the ticker symbol ICC…formerly named Shogun Capital Corp., ICC announced the closing of its qualifying transaction involving the acquisition of International Cannabis Corp. by way of a 3-cornered merger…ICC, which completed a $13 million financing and has 112 million shares outstanding, aims to build a dominant position in South America where several countries have either recently relaxed their cannabis and hemp laws or are in the process of doing so…ICC is trading at 90 cents as of 7:00 am Pacific…

7. Naturally Splendid (NSP, TSX-V) has announced a new CEO this morning with Dave Eto taking over the reigns while Craig Goodwin retains the position of President…Eto has spent over 30 years in the food-processing industry and recently served as Executive Director and CEO of the B.C. Dairy Association…Eto was responsible for the overall management of the B.C. Dairy Association, including communicating with hundreds of farmers, working with various governmental departments as well as developing many of the marketing initiatives launched during his term…previously, he held a senior corporate position with Premium Brands Holdings (PBH, TSX), a Canada-based producer, marketer and distributor of specialty food products…NSP is unchanged at 39 cents as of 7:00 am Pacific…