Floor Talk April 17
Corn, beans and wheat were all little changed in overnight trading as half the world has the day off for Easter. Volume is low across both commodities and equities this morning. Corn and beans were both down 1 to 2 cents, while wheat was barely changed. Speculators extended their bets on lower corn and soybean prices last week, increasing their net-short positions. The moves come amid rising global production forecasts. The USDA last week pegged Brazil's soybean crop at a whopping 111 million metric tons, beating a prior projection of 108 million tons, but bringing the agency's forecast in line with private companies.
Here's what happened overnight:
Brent Crude Oil = down 0.9%.
West Texas Intermediate Crude Oil = down 0.9%.
Dollar = down 0.2%.
Wall Street = U.S. stock futures lower in pre-market trading.
World Markets = Global stocks higher amid extremely low volume.
Re: Floor Talk April 17
Went up flying today and saw a few planters in the field northwest of Washington, IA. Not as much field work going on as I'd expected, but maybe it is the rains we've been getting. A few fields show standing water but most appear well drained.