Floor Talk August 12 -- Report Day
Beans and corn were slightly higher overnight, but pretty listless as traders on LaSalle Street are sitting around, enjoying their Dunkin Donuts while awaiting today's WASDE report. Export sales yesterday were excellent as shippers sold almost 3 million tons of new-crop beans and more than a million tons of new-crop corn last week. But everybody's watching WASDE to see how much the USDA will raise its corn and bean production forecasts. Analysts have corn production pegged at 14.784 billion bushels, up from 14.54 billion last month, and bean output is projected at 3.949 billion bushels versus 3.88 billion forecast in July by the USDA.
Brent Crude Oil = 0.5% lower.
West Texas Intermediate Crude Oil = 0.3% lower.
Dollar = up 0.1%.
Wall Street = U.S. stock futures slightly higher in overnight trading.
World Markets = Global stocks slightly lower as investors take risk-off approach.